FamilyBusiness.org
@FamBiz_Org
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Our goal is to help Family Businesses thrive by providing a free resource that offers them the best thinking on how to launch, manage and grow their business.
Joined October 2021
💼 Looking for tips on running a successful family business? Look no further! The new YouTube channel from features interviews, case studies, and more to help you thrive. #SmallBusiness #SuccessTips.
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Join Our Family Subscribe for the latest insights on managing and growing your family firms through academic-based research and interviews with industry leaders and family business owners. FamilyBu...
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RT @Forbes: Here are five ways to protect your team's energy and maintain productivity despite difficult co-workers. .
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RT @IAmMarkManson: Underrated life skill: Surrounding yourself with people who make you feel better. ㅤ .Overrated life skill: Surrounding y….
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RT @Forbes: Since he became the sole leader of his family’s candy maker in 2015, executive chairman Giovanni Ferrero has expanded beyond we….
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RT @kejca: Warren Buffett: "The best moat you can have is your own talent. Inflation can't take it from you. Taxes can't take it from you."….
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RT @MITSloan: We talked with two MIT Sloan AI experts about the best use cases for generative AI, when traditional machine learning is the….
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Parenting styles play a crucial role in shaping the future leaders of family businesses. Understanding how different parenting styles manifest can help create a better business culture and smoother leadership transitions.
familybusiness.org
This experiential exercise is designed to enhance student learning about the four parenting styles and how they affect the dynamics within the family firm.
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Family business succession is a complex process. Start early, separate ownership from management, focus on competence over birthright, and consider seeking external advice to ensure smooth transitions.
familybusiness.org
While every family business is different, these guidelines can help most firms smooth out the succession process and maintain family relations as a bonus.
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Family‑business strategy succeeds when it focuses first on shared identity, clear boundaries, and honest dialogue—then on structures and plans. #FamilyBusiness
familybusiness.org
Successful, long-lasting business families share an understanding of what is important to them, what they want to do together, and how they want to work together to achieve their collective goals and...
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Family businesses must embrace change by regularly challenging their business models and adopting scenario planning. Anticipating shifts in the market and technology is key to staying relevant and competitive in the future.
familybusiness.org
Classroom exercise helps students in family firms identify potential changes and threats and their consequences.
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Ownership education is essential for family business success. It equips members with skills in decision-making, strategy, and communication, ensuring unity and continuity across generations.
familybusiness.org
Educating family members to become such competent, responsible stewards of the family enterprise is a responsibility, and not a choice.
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Students can apply core family business concepts by interviewing owners, presenting findings, and reflecting on their real-world insights. This exercise enhances communication skills and offers networking opportunities for career growth.
familybusiness.org
This exercise allows students to apply core family business concepts to a real-world business context, reinforcing their grasp of the course materials.
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Family business education succeeds when it brings emotional dynamics into focus—transforming theory into lived experience for successors and founders alike.
familybusiness.org
These free classroom exercises, interviews and other resources will add new energy, fun and inspiration to your students' course work.
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Family business successors succeed not by asserting authority but by cultivating humility, curiosity, and learning under mentors.
familybusiness.org
The bravado and doggedness that worked for Winston Churchill and Vince Lombardi won't work at family firms, which need a more supportive leadership style.
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Start early to teach kids values for managing the family business. Fun activities, financial stewardship, and clear boundaries help prepare them for future responsibilities.
familybusiness.org
Values, as Mitzi Perdue points out, help children become responsible stewards of the family business when it's their turn.Â
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Millennials in family businesses excel in global expansion when led by non-family peers. Research shows this leadership dynamic boosts international sales.
familybusiness.org
Millennials work harder and more successfully to expand their family firm globally if their CEO is a fellow millennial and is not a family member.
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A struggling family office reflects deeper misalignment in family purpose, values, and trust. Address the relationship first to fix the organization.
familybusiness.org
The Single Family Office should be a strategic partner that ensures future stability, but this family saw them as a piggybank.
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Family firms risk losing top talent by over‑emphasizing heritage at the expense of innovation and fairness. Highlight real growth opportunities to attract diverse candidates. #FamilyBusiness #Recruitment
familybusiness.org
Family firm branding can make a company appear authentic, but it's also important to convey innovativeness, prestige, and a fair shot at getting ahead.Â
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Family businesses thrive when next‑gens co‑create a holistic vision, turning emotional tensions into shared purpose. Design thinking makes that vision tangible—and succession sustainable.
familybusiness.org
This classroom exercise seeks to motivate future family firm leaders to think ahead and design a holistic vision of their family firm in 10-15 years, covering many different (and potentially confli...
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A strong Board of Directors balances family values with external expertise. Prioritize skills, limit conflicts of interest, and align the board with strategic goals for lasting success.
familybusiness.org
It's important that current or future members of a family business understand best practices for assembling a Board of Directors (BOD). That's why we explore this in depth as part of a basic family
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Family businesses protect their future by maintaining strict cash discipline, prioritizing trusted team members, and innovating without compromising their enduring legacy. #FamilyBusiness #Leadership
familybusiness.org
COVID-19 is frightening new territory for all of us. Here are 10 strategies for family businesses, based on lessons from past economic crises.
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