conflict management
Harmonize Through Conflict in Family Business
“We don't get harmony when everybody sings the same note. Only notes that are different can harmonize. The same is true with people.” Steve Goodier All enterprising families experience conflict, and how to handle conflict is a top concern for family businesses. Conflict is NORMAL. It is a natural characteristic of the family, evolving when people’s roles change and grow, overlap, clash, or are misunderstood. Staying strong as a family and a family business requires flexibility and constant renegotiation of roles, as well as an acceptance that dealing with conflict is just business as usual. Learning how to effectively manage [...]
Positive Prenup: 5 Topics to Protect Your Partnership
Getting a couple to talk about divorce when they are just embarking on marriage can be a tough sell to someone planning a wedding. For couples entering a partnership with comparable assets, a prenuptial agreement. aka prenup, is rarely contentious. But when there is wealth disparity, prenuptial agreements can be seen as a requirement by one party and as a threat to the other. In this case, creating the prenup can prove critical to the success of the marriage—not just for the future conflicts it prevents, but also for the conversations it starts. Prenups Protect Couples from Conflict The truth [...]
Getting a Grip on Conflict: pt.1
First step, understanding systemic conflict Why is conflict in family enterprise often so extreme and intractable? It is extreme, because roles in a family business, or access to family wealth, are not as negotiable as these issues would be in a non-family enterprise. This is true in large part because family members tend to take their role in the business very seriously. The disagreement is about more than just a job or money, it’s about what these signify to the stakeholder. Dismissing conflict in a family enterprise as greed is too easy. More often, stakeholders are fighting about very real [...]
Are “Best Practices” the Best Practice for Your Family Business?
Is a Best Practice the Best Solution for Your Family Business? Conflict and uncertainty eventually challenge most family businesses. There is no shortage of books and articles espousing a so-called “best practice” for a family business. While many of these often provide great value for their intended audience, it is important that stakeholders not follow these recommendations blindly. Below are some points to consider when evaluating a best practice for potential implementation. VALIDITY Is the best practice in question supported by unbiased, statistically valid data – and not just anecdotal? It is often difficult and/or time consuming for both stakeholders [...]
Managing Sibling Wealth Disparity pt.1
When misunderstood, wealth disparity between siblings can build resentment… Understand why and steps you can take towards a shared vision. Part 1 of a 2-part series by Continuity Managing Partners Doug Baumoel and Blair Trippe Forging a close relationship among siblings during childhood is hard enough, but as siblings become adults, disparities in wealth that may develop can challenge even the strongest relationships. In business-owning families, the potential ramifications are extensive. The dynamic doesn’t just play out in the personal lives of the immediate family; it also can impact the alignment of corporate vision, tolerance for risk and overall decision [...]
How to Enjoy Your Family Over the Holidays When You Work With Them
As we head further into the holiday season, many of us are preparing for family functions with the full spectrum of emotions running from eager anticipation to dread.
Family Ties and Relationship Challenges
Family business conflict is typically caused by opposing goals, incompatible values and/or an historical impasse. Often, families will avoid discussing these because there are deep commitments on both sides that might make it hard to come to consensus. When this happens, the business can suffer from inaction. Historical Impasse can often act as the cement that keeps such situations “stuck”.
Managing Identity-Based Conflict
Families are made up of individuals who each have their own unique values, goals, personality traits and talents which are at the core of their sense of self, or their identity. When they feel that their very sense of self is threatened, they will go to desperate lengths to defend what they hold dear.