Family & Business

By Michael Hartley CFP® | From transitiondynamicsinc.com: Curated family business and closely held enterprise related articles and blogs.

Succeeding at Succession: What it Takes to Grow a Family Business

What do family businesses need to know as the founding generation retires and the next generation takes the wheel?

Family Business

Four Steps Employers Should Take As The Weinstein Scandal Unfolds

In light of recent headlines, employees expect their leaders to restate their values and workplace policies. Here are some expert tips on how to do that.<p>Now that Harvey Weinstein has been fired from his production company for years of alleged sexual harassment, some in the entertainment industry–as …

Leadership

This Entrepreneurial Family Made Swords for Samurai and Now Shares How to Be Successful in Fast-Changing Times

The only certainty is change. Great leaders maintain their success by learning to adapt like this amazing entrepreneur.<p>Great leaders understand that stability often helps employees perform better and streamlines planning. Life is rarely predictable, however, and the future often shows up looking …

Leadership

After 100,000 Interviews, Johnson & Johnson Global VP Said These Were The 7 Best Candidate Questions

Never underestimate the power of a question.<p>There comes a point in every interview when hiring managers ask applicants the exact same thing, "Do you have any questions for me?" Although this off-script moment feels like a formality, the applicant's questions could provide just as much insight as …

Employment

3 Ways to Run a Company When Your Spouse is Your Business Partner

Work-life balance has never been so important.<p>Running a business alone is hard enough, so it takes a certain type of couple to be able to start and build a company together successfully. Boundaries must be set, and processes should be put in place from the get-go. After all, you don't become a …

The Workplace

Want to Raise Successful Kids? MIT Scientists Say Let Them Watch You Do This (But Most Parents Are Afraid To)

Science says children as young as 15 months old can learn to become more resilient--but only if you're willing to show them this.<p>Imagine you're a parent. You want the best for your children--and you're convinced, based on science, that it's very important for them to learn grit and tenacity.<p>So, you …

Parenting

It's Your Ship

• <b>Author:</b> D. Michael Abrashoff<p><b>NEW YORK TIMES BESTSELLER</b><p><b>The legendary tale of top-down change for anyone trying to navigate today's uncertain business seas.</b><p>When Captain Abrashoff took over as commander of USS <i>Benfold</i>, it was like a business that had all the latest technology but only some of the …

Want your kids to be resilient? Here’s what not to do.

Amy Morin knows a lot about resiliency. A licensed clinical social worker, psychotherapist and foster parent, she has devoted her life to helping others resolve problems and conflicts.<p>But she also has personal experience with building resiliency. While in her 20s Morin faced the unexpected loss of …

Parenting

Think twice, wealthy family, before cutting the black sheep out of your will

Estate planning is rarely straightforward, but it can become even more complicated when parents find themselves dealing with a grown child whose behaviour or circumstances pose a risk to the family's wealth.<p>Maybe an adult son or daughter has a history of refusing help for self-destructive …

Estate Planning

4 Cyber Security Risks Your Employees Must Know (and How They Can Be Prepared)

Connected devices intend to make life more convenient. However, they're also making you more vulnerable to cyber threats.<p>Regardless of your thoughts on the Internet of Things, you can't ignore the fact that the number of connected devices continues to rise by the year. In fact, some predict a rise …

Cybersecurity

Loneliness and the Digital Workplace

I’m typing this in a nearly silent coworking space. All of us here at HBR are intently focused on our computer screens. The tap-tap of our fingers on keyboards, occasional rustle of paper, and clink of a coffee mug landing on a desk are the sounds of work. Look into our screens, though, and you …

Harvard Business Review

Moving To Blue Ocean Strategy: A Five-Step Process To Make The Shift

In 2005, <i>Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant</i>, a book by Professors W. Chan Kim and Rénee Mauborgne, launched a revolution in business strategy. After all, which firm would <i>not</i> to be operating in “uncontested market space,” …

Oceans

Tax Plan Punts on a Loophole for the Wealthy

In devising any complicated plan, there will be some knotty issues when it is tempting to offer vague promises of fixes that come later. The new Republican tax plan includes just such language, about a provision that wealthier Americans might find tempting to abuse.<p>“The framework contemplates that …

Equality

Growing Up Wealthy Can Be a Major Obstacle to True Success

If you're looking around to compare yourself to the guy in the other lane, you'll lose.<p><i>Can kids from a poor background ever outperform rich kids? originally appeared on Quora - the place to gain and share knowledge, empowering people to learn from others and better understand the world.</i><p><b>Answer by</b> …

Success

Business Owners Could Be the Biggest Winners From Trump's Tax Plan

But there are still too many unanswered questions to be sure.<p>Small business owners, large corporations and the super wealthy could fare well under President Donald Trump's tax plan. The middle-class could come out ahead, too, but the plan has too many holes to determine how individual taxpayers …

Retirement

Good to Great

• <b>Author:</b> Jim Collins<p>The Challenge<br>Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the verybeginning.<p>But what about the company that is not born with …

What Happens After You Sell Your Company? What These Founders Say May Surprise You

Acquisition is a promising exit strategy, but it's not seamless--financially or emotionally. Take this advice from founders who have done it<p>Selling a company is the entrepreneurial dream. With recent reports showing record numbers of small business owners exiting, I was curious about how …

For This Family, The Bigger The Problem, The Bigger The Opportunity

<i>You can download an audio podcast here or subscribe via iTunes.</i><p>The Food and Agriculture Organization of the UN estimates that “roughly one-third of the food produced in the world for human consumption every year gets lost or wasted.”<p>Recognizing the journalistic injunction to avoid hyperbole, that …

Agriculture

4 Tips for Managing a Business With Remote Workers

You don't need to be in the same office as your employees to work with them productively.

Employment

Demographics and Family Governance: The Vanishing Middle

by Kelin E. Gersick, Ph.D.<p>Many of us spend a lot of our time advocating and designing family governance: boards of directors, family councils, family …

Management

Psychologists studied 5,000 genius kids for 45 years — here are their 6 key takeaways

Follow thousands of superbright kids for four and a half decades, and you learn a thing or two about how to raise a high-achiever.<p>One of the biggest takeaways: Even kids with genius-level IQs need teachers to help them reach their full potential.<p>Since it began in 1971, the "Study of Mathematically …

Education

Nordstrom family chooses Leonard Green as buyout partner

The founding family of high-end retailer Nordstrom Inc has chosen private equity firm Leonard Green & Partners to help take the company private, according to a source familiar with the matter.<p>The family and Leonard Green are working on a formal bid that could be submitted in the next few weeks, the …

Markets

When Disaster Strikes, Small Business Owners Face a Years-Long Recovery Process

Nearly 40 percent of small businesses affected by weather-related catastrophes never reopen.<p>After Hurricane Katrina hit New Orleans in 2005, an antique store needed more than six years to fully recover. A Long Island restaurateur couldn't reopen one of his locations for a year and a half after …

Boards Can’t Wait for CEOs to Prioritize Digital Change

Is your board willing to be a driving force in the digitization of the company, or are you content to sit back and watch as born-digital companies transform one industry after another? Boards must recognize the unstoppable forces at play and drive their CEOs to reinvent the business while they …

Harvard Business Review

Are You Accurately Measuring Your Company’s Digital Strength?

There are few business leaders around the world not thinking about digital transformation in some shape or form. Whether improving omni-channel commerce or developing digital extensions to product lines, businesses are working out how to drive profitability through digital. But traditional metrics …

Harvard Business Review

Every Company Needs A Repeatable Process For Turning Creative New Ideas Into Profitable Businesses

In every large organization I work with, at some point, we get into a contentious conversation. I keep saying they need to be more innovative. A few executives in the room find this statement annoying. After some back and forth, one executive inevitably says something like:<p>We don’t have a problem …

Innovation

Made to Stick

• <b>Author:</b> Chip Heath & Dan Heath<p>BONUS: This edition contains an excerpt from Chip Heath and Dan Heath's <i>Switch</i>.<p>Mark Twain once observed, “A lie can get halfway around the world before the truth can even get its boots on.” His observation rings true: Urban legends, conspiracy theories, and bogus …

Family Business
Family Business