Tom Hubler (firstname.lastname@example.org) is president of Hubler for Business Families, a family business consulting firm.
Consultants can develop the capacity to serve family businesses after engaging in reflection that helps them become leaders.
When encountering a tense situation with a family business, tell the truth with love instead of fear to resolve conflicts.
Every family business must have plans that address ownership, management, the business model and family emotional equity.
Healing sibling resentments and blending two generations of children requires open communication.
Succession planning includes not only mentoring the next generation,
but also a good exit strategy for the founder.
Children may not place the same value on a family business as their parents do, which can create huge conflicts at the time of succession.
Family business members need to share with each other what they need to thrive and be successful within their families and companies.
Poor communication and long-standing resentments hurt families
and their businesses.
Give your most precious gift this holiday season: Yourself.
Gratitude is the glue that holds personal relationships and family businesses together.
What happens when a family business succession plan goes awry?
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.
Ten ideas to successfully prepare for handing off leadership to the next generation.
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.
Avoiding a discussion of family disagreements simply magnifies problems.
Family dynamics can easily become disruptive when the balance is off between the family and business.