Champions for the family business.
"It is like a magic sword: it gives the holder rare powers, but only the mightiest of warriors can keep from being nicked themselves by the blade." - John Sedgwick, on inherited wealth, in Rich Kids Are you doing the best you can for your children … [Read more...]
By: James Olan Hutcheson DEVELOPMENT AND PROMOTION Few sizable family businesses can be adequately run without reliance on non-family professionals. Outsiders bring fresh ideas and specialized expertise, so make it plain to family … [Read more...]
By: James Olan Hutcheson CONDITIONS FOR HIRING AND FIRING Don’t let family members get the idea that they can sit back and be recruited for cushy jobs. Family members should submit to … [Read more...]
By: James Olan Hutcheson PURPOSE OF THE EMPLOYMENT POLICY The purpose of a family employment policy is to set out the procedures, process, and criteria that will govern how members of the family enter and exit from company employment. … [Read more...]
By: James Olan Hutcheson I can hardly count the number of times I have been called in to help a family business encumbered with family member employees whose only qualification for the job is a connection to the company by blood or marriage. … [Read more...]
Given the fascination – and headlines – devoted to family shenanigans at companies like Adelphia, Imclone, and Martha Stewart Inc., it is no wonder that myths of family business continue to grow. Family businesses have been around as long as … [Read more...]
Bad times for most enterprises equals good times for those catering to the stressed, the depressed and the anxious. As measured by the marked increase in calls to mental health hotlines whenever the unemployment rate rises and more … [Read more...]
A client of mine had worked long and hard for many years to start her own business and build it into a success while at the same time raising two children in a happy marriage. That's what made it frustrating to see how she responded to what I call … [Read more...]
The world's oldest continuously operating family business ended its impressive run last year. Japanese temple builder Kongo Gumi, in operation under the founders' descendants since 578, succumbed to excess debt and an unfavorable business climate in … [Read more...]
Too often, sweeping potential conflict under the rug is what happens in family enterprises. Rather than respectfully addressing problems that could cause strife, they are ignored and allowed to fester until some combination of events makes them … [Read more...]
