Business succession


14Nov 2010

Common Concerns in Transferring Wealth — Confirmations from Princeton

Last week I had the opportunity and privilege of being one of three facilitators at an event at Princeton University entitled, “Conversations about Family, Wealth & Philanthropy”. With my long-time friend, Doug Bauer (CEO of the Clark Foundation, formerly of Rockefeller Philanthropy Advisors) and my new friend, William Zabel (well-know estate planning attorney in NYC and author of The Rich

05Nov 2010

Rethinking Family Businesses & Cultural Biases and Questionable Research

Last week I had the privilege in participating in a “think tank” about family businesses at Pepperdine University. Led and organized by Dr. Ken Canfield (formerly the director of the National Center for Fathering, now the director of the Boone Center for the Family at Pepperdine), a small group of professionals who serve family businesses met for two days discussing

27May 2010

Key Issues for Business Owners to Address Prior to Selling Their Business

As many of you know, I do a fair amount of consulting with family owned businesses. One of the common issues I help business owners and their families work through is the sale of their business (either preparing to do so, or dealing with the results afterward). Recently, a friend who meets with a number of business owners starting to

28Dec 2009

The Problem with Trying to Be "Fair" With Your Children

In my role as a family coach for wealthy families, one of the common issues that arises is the parents’ desire to be “fair” with their children and grandchildren. (I put “fair” in quotation marks because it really is an unusual term that is defined differently by many people and is almost totally based on perception.) For whatever reason, and

15Nov 2009

Mentoring — Transferring Information & Experience to the Next Generation

I started reading a good book this week — A Game Plan for Life: The Power of Mentoring by John Wooden and Don Yaeger. It was recommended to me by a good friend, and I always try to pass on worthwhile reading to others. The first part of the book covers the seven mentors that influenced Coach Wooden (for those

13Sep 2009

Father & Sons — Some Observations

Most of the work I do is with families — family-owned businesses, families who work together, families who have sold businesses and now manage the resulting assets together, and just plain families. And in my everyday life I have the opportunity to interact with and observe families of all configurations. Add my own personal life, of being a son, and

03Mar 2009

Entering Into Your Children's & Grandchildren's Lives

Often, when talking to senior generation members within a family, we discuss how to transfer one’s values to the next generations.  Sometimes we are talking with parents in their 30’s, 40’s and early 50’s who are still raising their children and teenagers at home.  Other times we are talking to 50-60 year olds with young adult children out of the

28Dec 2008

Transferring Values Via Storytelling – An Opportunity Over the Holidays

A much talked about issue in the area of wealth transfer and family business succession is the desire to “transfer our values to the next generations”.  This is a valiant goal and one which should be true for every family regardless of wealth status — training your children and grandchildren in ways that they will instill values that are important

30Nov 2008

Family Wealth — The Difficulties of Differing Financial Backgrounds

I have had a number of situations recently where I have been involved in family situations where two members of a couple have come from significantly different levels of financial resources. The following are more in the category of “in process” observations — thoughts and reflections that I have that are still developing and not fully complete yet. Coming from

01Sep 2008

Women and the Family Business

It seems to be appropriate week to write about women and the family business, given the high profile of women in politics this past week (Hillary Rodham Clinton’s eloquent speech at the Democratic National Convention, and the selection of Governor Sarah Palin as the Republican vice presidential candidate). Six female authors have recently published A Women’s Place . . .

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