Emotions Invoked by Family Business Vision-Building

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Here’s a list of some emotions that could be invoked when the Next Generation contribute to the renewal of a shared vision. Spoiler: several of them don’t appear to be positive emotions! Awkwardness: members of the Next Generation can be very aware that it’s not ‘their’ company. They didn’t create it, they weren’t there for its early steps. So there […]

Checking alignment among family owners

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Scientists say that, when we respond to the external world, we are really responding to the brain’s interpretation of the jumble of data received from the eyes, ears, and other parts of the body. The brain does a great job of filtering data to make it more manageable. A lot […]

Turning pennies into gold

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Family businesses are uniquely positioned to give forward and create impacts more far-reaching than they could ever imagine. Scott McCulloch explains.   When someone does a good deed for you, instead of paying them back, pay it forward by doing a good deed for someone else. Once upon a time, […]

A sign of a healthy enterprising family

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At BFF we asked Margaret-Jean Mannix, Chairman of Loram 99 Corporation, to tell us why she loves to help other members of her family to define their dreams. Here’s her story: “I find that, in family business, people can lose themselves and lose sight of what’s meaningful for them and […]

Why family purpose fuels family strategy

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Are well-defined milestones the secret ingredient in exceptional family businesses? Scott McCulloch breaks down the recipe.   How do you strategically align family business values and management culture in a family business? The short answer is with great care. Yet it’s hard not to take a binary view with regard […]

Two sisters talk about their family business and a strong emotion

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At BFF we get to know a lot of the complex emotions that affect enterprising families: pride-in-achievement, purpose-in-the-project, determination-to-survive and many others. We really appreciate Brittney and Breanne Ramsay, of BRITT Land & Engagement, telling us about the crippling-fear they experienced when their dad became unexpectedly ill. Brittney Ramsay: “We […]

How to use pre-framing for Family Meetings

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In BFF’s work with enterprising families we’ve noticed how, when people’s emotions become hot, they somehow seem to ‘forget’ important communication skills. People can become upset by even apparently innocent comments like: “I see what you’ve done, that’s what I expected you to do”. The retort could be: “So I […]

Trends in family philanthropy: A 3rd philanthropic revolution is fully underway

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Written by Professor Peter Vogel We live in an era of unprecedented change and transformation. Technological, demographic, environmental and social uncertainty is causing leaders around the world to worry about the future of society, the economy and our planet as a whole. In an attempt to address the manifold challenges, a […]

Global trends that make it more important than ever to support entrepreneurial families

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  Entrepreneurial families are able to thrive because of distinctive strengths. These include a time horizon that extends over generations, a stewardship approach based on deeply-held values, and an on-going renewal of the entrepreneurial drive. The strengths are supported by underlying success factors of ‘familyness’. However, there are several trends […]

The integration of next-generation family members in decision making

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Keeping up with the Waltons: Business-owning Family Socialization It is widely recognized that family businesses tend to orient decision making around maintaining control of their firm, which may result in a range of “economically irrational” strategic behaviours, such as suboptimal human resource practices, governance, corporate diversification, and R&D investment, in […]