Tom Hubler (email@example.com) is president of Hubler for Business Families, a family business consulting firm.
Through a CEO’s death or incapacitation, a family business can be thrust into a vulnerable state if it lacks a well-conceived succession plan.
Successful entrepreneurs must think through how and when to leave the top job.
Family businesses should take multiple steps to prevent serious conflicts that could end up in court.
Accountability expectations must exist among multiple generations in a business.
In a multi-generational family business, outside board members can bring tremendous value and help relatives shape their business strategy.
Family businesses cannot function well unless family relationships are loving and healthy.
Love is the foundation of a productive and successful business family.
Family members should draw on their religious backgrounds and family values to unite behind missions for their businesses.
The holiday season is a time to build family values and enjoy family members, not a time to debate business strategy.