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Team Building in the Next Generation: Preparing Future Leaders

Vulnerability, trust, shared experience, familiarity and education are essential for fostering successful teams within the next generation. With proper planning and attention to these elements, families can support the development of strong next-gen teams. Stronger next-gen teams produce committed ownership groups and deeper commitment to family values.

 
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Stephanie Brun de Pontet Joins FBCG Ownership Group

“It is with great pleasure and much enthusiasm that we welcome Stephanie as our newest owner and partner,” announced Stephen McClure, principal consultant. “She has long been a leading contributor to our firm’s growth, internal processes, intellectual leadership, camaraderie and most important: high-value services to our clients. Her well-deserved addition to the ownership group will be felt for years to come as FBCG advances its mission of helping family firms prosper across generations.”

 
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Succeeding at Succession

What’s essential in each generation is to ask and answer: What is the purpose of our proactively engaging as an extended family? Of staying together as family enterprise owners? To what extent, if any will family members be engaged in business leadership? Business can be a means of achieving family purpose, but it is not the purpose itself.

 
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The Dark Side of Being Too Generous to Family Employees

To address this unsustainable approach, the next generation can lead the challenging work of unwinding the family-driven, need-based “structure” by creating a rational, professional and objective compensation approach. The shift in behaviors means addressing tough issues like quantifying the different levels of value family employees bring to the business, personal financial responsibility, lifestyle expectations and employee performance.

 
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Attracting Top Board Talent: The Power of the Board Prospectus!

Whoever sits around the boardroom table of a family business wields tremendous influence on the performance and continuity of that family business. Therefore, selecting board members – both family members and independents – is a crucial step in getting the right mix of talent around that table to help achieve this feat. The development of a board prospectus brings family owners and executives into alignment.

 
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Good Governance for Family and Business Success

Whether it is creating a board for the first time, or evolving how an existing board operates, implementing good governance can be integral to protecting relationships and the viability of the family’s enterprise. In our experience, board evolution generally proceeds from “paper boards” that never actually meet to family boards composed of family owners to boards with both family owners and non-family independent directors.

 
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Predictable Yet Not Inevitable: Archetypes of Potential Conflicts in the Family Enterprise

Whether brought on by growth, succession, paradox or poorly informed assumptions, building awareness of the system patterns that commonly develop within the family enterprise is a step in the right direction to proactively anticipate predictable conflicts in a way that diffuses their inevitability. ​

 
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Dear Family Business Advisor: Answers to Top Questions about Family Meetings

Getting the family together is simultaneously one of the most joyful occasions in the life of a family business and one of the most terrifying meetings a family can plan. It has long been a recommended “best practice” for all enterprising families. Our colleagues Craig Aronoff and John Ward placed holding regular family meetings among the two most important steps a family business owner can take to ensure continuity.

 
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Building a Foundation for Multigeneration Success: How Enterprising Families Become Champion Families

Champion families have a tremendous amount to teach us about how they have achieved their success across generations. By looking at aspects of your leadership, purpose, values, governance, education, communication and relationships, you can create a strategic plan with your family that fosters the development of each of these vital areas. Acting proactively and with intention can help families who are in business together truly become Champion Families.

 
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Hop on Board: Integrating New Directors with a Continuous Onboarding Process

Good boards are the foundation of good corporate governance and the sustainer of trust in a business-owning family. The foundation of good boards is thoughtful and thorough onboarding of new members, both family and independent, each time they are added. Embracing the above steps will not guarantee that a new member will be a success… but, careful attention to the way new members are brought into either an existing or new board will support their efforts to add value for all owners.

 
 
Results: 776 Record(s) Found.

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