Doug Baumoel’s Story Based on an interview and article with Cornell University’s Smith Family Business Initiative Working for your family’s business can be a very rewarding experience, especially if it functions well. When it doesn’t, the experience can be...
Identify and Develop a Successful Entrepreneur What makes a leader entrepreneurial? Many family business leaders, especially founders of family business, are eager to find an equally entrepreneurial leader in their family to become their successor. The paradox is that...
Updated July 30, 2018 | Originally published July 27, 2017 To Sell or not to Sell the Family Business? The right answer is not the same for everyone– it is whatever works for you and your family. The decision of whether or not to sell the family business is often a...
Family Member Employment Strategies Family employees can be a double-edged sword for the family business. They often display profound commitment to the enterprise, but if their employment does not work out for one reason or another it can be enormously disruptive to...
Succession Planning as a Route to Fulfillment When personal identity is enmeshed with business—as is often the case in family business—it makes it extremely challenging to see the exit ramp out of leadership, and to know when to make the turn. Those approaching the...
Selling? Getting it Right! The decision whether or not to sell the family business is often a difficult one. No matter if the business has been nurtured and handed down through several generations or is still in the hands of the founder, deciding to sell is tough. The...
