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Family Venture Capital

Author: Norb Schwarz Source: FBA

 

Fair Process: So Important, So Subtle

We’ve written on many occasions about how the perceptions of fairness in family decision-making are so critical to family unity and commitment. We’ve explained how the design of the decision-making process affects perceptions of fairness.

 

Building A Healthy Team

Turning any group of people into a team is a tough assignment. Forging two or more siblings into a team, especially if they didn''t have team-building experiences growing up, is even tougher. The emotional issues we talked about earlier frequently get in the way--all the more reason to be aware of and understand these issues so that any negative impacts can be minimized or prevented altogether.

 

The Leverage of Kindness

Blanche DuBois depended on “the kindness of strangers” in Tennessee Williams’ A Streetcar Named Desire. It is a curious behavioral attribute that most of us possess; we are indeed kind to strangers. It doesn’t seem to take much effort and it makes us feel good.

 

Sibling Code of Conduct

Here’s a good example of a Sibling Code of Conduct, developed to clarify the expectations of a team of sibling owners and to reinforce and make explicit their commitment to one another.

 

Why There Is No One-Size-Fits-All for Family Business

As a consultant, I often receive requests from clients to provide them with a set of best practices that they can follow to ensure that their family business is well-run. This request is logical.

 

Who's Responsible for What in Career Development

Nothing could be more important to the continuity of a family business than the preparation of next generation leaders---both family and non-family.

 

Going to Work in the Family Business

So, you're ready to begin working in the family business. It's not the first time you've been paid by the business you worked summers and vacations but this is your first real full time job after completing college and gaining experience elsewhere. Your goal is to work your way into the top management team, maybe even earning the title of President/CEO as your father (or mother) and grandfather before you.

 

Policy-Making: The Process

We list below some of the individual steps you and your family can expect to go through in developing a policy for your policy guide. We urge families to hold off discussion or debate of any policy until after step “e.” When discussion begins too early in the process, family members start to "freeze up" in their opinions and get locked into positions, often based on some self-interest.

 

Family Business Policies: Why You Need Them

Policies help avoid problems and conflicts before they happen. They eliminate or reduce future tension. When families take the time to identify and discuss issues that might lead to future disagreement and tension, they are actually determining the most important areas in which policies might be needed.​

 
 
Results: 771 Record(s) Found.

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