What is the single most useful thing you can do to understand your ideal ‘future world’? At BFF we come across many inspiring families and, at a personal level, it’s easy to think “we wish our own families could be more like that family.” How useful is it to think […]
A new working system is needed… Amidst new international uncertainties, 2017 brings forth a new reality for entrepreneurship within businesses world wide. This reality is no different for entrepreneurial families; the challenges faced by the rising generation and the need for new resources for existing owners, is creating the need […]
“One of the things we often miss in succession planning is that it should be gradual and thoughtful, with lots of sharing of information and knowledge and perspective, so that it’s almost a non-event when it happens.” – Quote by Anne M. Mulcahy
Successfully building and operating family businesses over multiple generations requires the ability to creatively respond to challenges and complex issues that arise with each generational transition. What are typical circumstances, associated challenges and ways to successfully overcome these challenges?
I’m Simon Torres and come from a second generation family business from Colombia. My father belonged to a third generation family business that went bankrupt back in the 70’s and with the liquidation of it, he started his own business. He designed and constructed commercial, residential and institutional real estate […]
Entrepreneurship is en vogue. Policymakers, researchers and educators alike are showing increasing interest in this phenomenon as a result of the growing awareness of the importance of entrepreneurs to spur a country’s innovativeness and competitiveness, job creation and overall societal development.
Imagine if there was a potion to success… Identifiable qualities and steps that you could follow to build a 100-year family business. Well, we have just that. Follow the seven qualities here and you’ll be on your way to a sustainable multi-generation business.
Anyone who owns a family business is familiar with the challenges faced when transitioning to the next generation. You aren’t alone! We have compiled 7 Lessons Learnt from people who have been in your shoes. Read more here, it may just save your business!
If you studied economics in the 1970s you might have been told that the family business sector would soon die out. It was argued that widely-held companies, with hundreds of thousands of shareholders, were in a better position to raise large amounts of capital through stockmarkets. The future, it was claimed, belonged to them.
The term ‘leadership’ has been thrown around a lot lately. But what about ‘stewardship’? There are key fundamental differences between these two terms… According to research, enduring success depends on effective stewardship. Find out here!
Compass for Entrepreneurial Families is an educational program developed by Business Families Foundation to provide business families with a better understanding of fundamental, contemporary concepts.
Need help making important decisions? We’ve spoken to hundreds of families who have lived it. We’ll ask you the tough questions to guide you in finding the right solutions for your family and your business.
Play this interactive game to keep the family glue strong and to address issues around family communication and governance.
Relatable Case Stories
Want to see how it’s done? We’ll provide you with relatable business family scenarios so you can learn how to better handle difficult situations, anticipate common reactions, and avoid unnecessary conflict.
Setting clear communication boundaries in a family business can be complicated and every family is unique in how they decide to balance their work life and their family life.
Family Business Interviews
Searching for advice? We’ve collected hundreds of interviews. Listen to your peers speak about overcoming challenges and learn from their triumphs and failures to set your family and business on track for success.
Watch Carolyn Greenspon, a 5th generation member of The New York Times Company founding family, describe the influence her late great-grand-mother still has on the family to this day, and how business family leaders can act as role models to inspire generations to come.
Advice From Leading Experts
Seeking solutions? Hear from our specialists on best practices and strategies for dealing with common and complex family business issues. Take advantage of the knowledge and expertise they have to offer.
Watch Professor John Davis of Harvard Business School talk about the importance of reinforcing partnering between the junior and senior generations in a family business. In a family business, it is important to familiarize the rising generation with the business early on, so that they can take on responsibilities sooner.
Passionate about family business? Browse our interesting and thought-provoking collection of family business tips, tricks and stats! In reading them, we promise you’ll learn a thing or two about family business.
For some, the notion of working with a husband or wife is a desirable personal and professional scenario. If this partnership works well, husband-wife businesses are spectacular. However, if it does not work out, it can be devastating for the company and the marriage. But what do you need to consider when it comes to setting up a business with your life partner?