Family Business Magazine serves the unique information needs of multi-generational family-owned comp Family Business is the only magazine dedicated to thriving multigenerational family companies with a vital and active paid circulation of more than 7,500.
Readers include committed family company owners, leaders and shareholders. A multigenerational multimedia family company, Family Business has focused on family-owned company issues from financial distribution to emotional distribution for nearly 30 years. In addition to our print magazine and online media, Family Business Publishing hosts several conferences a year to educate family firm stakehold
Readers include committed family company owners, leaders and shareholders. A multigenerational multimedia family company, Family Business has focused on family-owned company issues from financial distribution to emotional distribution for nearly 30 years. In addition to our print magazine and online media, Family Business Publishing hosts several conferences a year to educate family firm stakehold
Difficult but necessary conversations in family business
It is important to have discussions about succession plans, money, and mental health with family members, especially when they're involved in the business
A no-drama approach to succession. It can be done!
The key to no drama begins with leadership, continues with achieving leadership competencies, and requires teaching nextgen those same leadership skills
Buy-sell agreements are essential for family businesses. But it's important to understand the nuances.
Due to the changing American family, a proper buy-sell agreement is essential to ensure that a family company remain under the ownership of the family.
Succession best practices for a Friday (or any day, really)
As our company, Day & Zimmermann has evolved over 3 gens, so has our approach to succession. Here are some best practices to emulate and pitfalls to avoid
Are your family documents in order? Consider including the following types of provisions in your ownership agreements
Members of a family business may be tempted to adopt ownership documents (such as shareholder, partnership and LLC agreements) that are less robust than would be the case if the owners were unrelated. The rationale is that “because we’re family, we don’t need a lot of complicated legal documen...
5 tips for trustees working with nextgen beneficiaries. Ideas to increase the likelihood of a productive relationship
The primary criterion for choosing a trustee is the ability to communicate in a way that optimizes the chances for the relationship to thrive and for the trust to function as originally intended: as a tool for security and happiness. Here are some steps you can take to increase the likelihood of a p...
Can't wait for this session at our Private Company Governance Summit on June 15-17. Have you registered yet? https://pcgs22.privatecompanydirector.com/home
Looking forward to this session at our Private Company Governance Summit in Washington, D.C. on June 15-17. Will you be joining us? https://pcgs22.privatecompanydirector.com/home
Can't wait for this session at the 10th annual Private Company Governance Summit on June 15-17 in Washington, D.C. Have you registered yet? https://pcgs22.privatecompanydirector.com/home
#boardofdirectors #privatecompanygovernance #familybusiness
Practical ideas on how to get the most out of your board
Whether you recently created a board for your family business or you have had one for generations, you always want to maximize the value you get from this governance structure.The rewards of having a board can be immeasurable, but clearly there is a cost as well. Compensation of the outside director...
Can't wait for this session at the 10th annual Private Company Governance Summit on June 15-17 in Washington, D.C. Have you registered yet? https://pcgs22.privatecompanydirector.com/hom #boardofdirectors #privatecompanygovernance #familybusiness
A family business owner reflects on the journey from owner-operator to owner-steward
Richard, the second-generation owner of Wooster, Ohio-based Seaman Corp. discusses the role of family stewards and his journey to redefining ownership
Aligning management compensation and shareholder earnings. Plus, defining performance.
Family business boards need to find the proper balance between compensation for the management and earnings for family shareholders who own the business
Speak fearlessly and openly with your kids about wealth. A great piece
It is vital to begin talking about money at a young age and have proper discussions, parents are not compelled to answer all of your children's inquiries.
What can your family business do to encourage innovation? Start by reading this article:
Here are 5 ways to encourage innovative thinking. The key is to teach your NextGens about responsible risk-taking & make innovation part of strategic plan
Families are guided and held together by the documents they create and share. Here's a no-nonsense guide to key family documents
When the Caladan family gathered for its biannual shareholder meeting, there were a number of significant topics to discuss. The most important was a clarification of some items in the buy-sell agreement. Prior to the meeting, each family shareholder had access to a digital version of the family con...
Why your family business needs a culture of continuity
Family businesses can be successful across generations due to a 'culture of continuity that enables the owners and the family as a whole to evolve together
Innovating Within the Legacy Business
You’ve got ideas. How do you introduce these successfully to the family business and the managing generation? Join us for Family Business NextGen as we discuss the desire for NextGens to leave their own mark, while still maintaining the legacy business. May 20. Details here: https://nextgen2.familybusinessmagazine.com/agenda
How to build a strong working relationship with a non-family CEO. (Hint: Respect boundaries)
Handing over leadership of the family business to non-family members can be hard. Being open-minded & building good relations can help the transition be successful
Deciding Whether or Not to Join the Family Business
This is often the key question for the future of a family business. Does the next generation intend to join the business, and if they do, will they stick with it? Or is there another path and passion to pursue? Join us as we discuss this and other important topics for NextGens at Family Business NextGen on May 20. https://nextgen2.familybusinessmagazine.com/home
Join us at Family Business NextGen on May 20, 4:10 PM ET, for a keynote conversation with Joshua T. Blank, next generation family member, at the Arthur Blank Family of Businesses (the Atlanta Falcons Football Club, Atlanta United Soccer Club, Mercedes-Benz Stadium, PGA Tour Superstore, and AMB West: Mountain Sky Guest Ranch, West Creek Ranch, and Paradise Valley Ranch). https://nextgen2.familybusinessmagazine.com/agenda
10 women transforming family business in 10 surprising ways
In a wide variety of industries like insurance, textiles, food and electronics, women are transforming family businesses. Family Business’s list of Transformational Women in Family Business provides a snapshot of the many styles of leadership.These women are innovating. They are enhancing corporat...
Family Business NextGen is a one-day intensive designed to address the unique challenges and goals of the next generation of multigenerational family businesses We'll touch upon all the relevant topics — and pain points — facing NextGens today. https://nextgen2.familybusinessmagazine.com/home
What does family business mean to you? One family, two perspectives
When it comes to creating and promoting their brand, members of the Trefethen family believe they are typically on the same page. See what they had to say
Family Business NextGen is a one-day intensive touching upon all the relevant topics — and pain points — facing NextGens in family business today. Friday, May 20. Check out details here: https://nextgen2.familybusinessmagazine.com/home
Using a family bank to fund new ideas. https://www.familybusinessmagazine.com/how-fund-new-ideas
Why valuation is a worthy cause. Even if no family shareholders want to be bought out now, it’s important to determine how a payout would be calculated.
Even when shareholders don't want to be bought out, it’s important multigenerational family companies determine how a payout would be calculated in advance
Opinion: A few thoughts on how to build a better board
Eventually, your family business will grow to a point where you realize you need help setting its strategic direction. To provide a reality check on your vision and performance, you need an unbiased view. Most leaders create a board to help with these issues.So, what is the first step in building a....
What an inspiring opening day
Join us this Thursday and Friday (starting at 2 PM ET) as we explore all the relevant topics (and pain points!) facing women in family business today. Leadership. Culture Building. Innovation. Wealth. Work-Life Balance. https://women22.familybusinessmagazine.com/home
We're so proud! Another round of congrats to Barbara Spector, David Shaw, Monica McLaughlin, Richie Madden and Amy Cosper at Family Business Magazine for the 2022 Grand Neal Award for "Reckoning: Family Businesses Confront Race, Racism and Inclusion." https://www.familybusinessmagazine.com/reckoning-family...
Our most sincere congratulations to Barbara Spector, David Shaw, Monica McLaughlin, Richie Madden and Amy Cosper at Family Business Magazine for their Jesse H. Neal Award - Best Subject-Related Package for, "Reckoning: Family Businesses Confront Race, Racism and Inclusion." We're so proud! https://www.familybusinessmagazine.com/reckoning-family-businesses-confront-race-racism-and-inclusion
Join us this Thursday and Friday (starting at 2 PM ET) as we explore all the relevant topics (and pain points!) facing women in family business today. Leadership. Culture Building. Innovation. Wealth. Work-Life Balance. https://women22.familybusinessmagazine.com/home
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