Tom Garrity
BLOG | FAMILY DYNAMICS / GOVERNANCE
What Actually Holds a Family Business Together Across Generations?
Family businesses rarely struggle because of strategy alone—they struggle when there is no shared purpose strong enough to unite generations. Long-term continuity depends on more than ownership, succession plans, or governance; it requires a clear reason for the family to work, lead, and build together.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Talking Business with Tom Garrity: When the Past Shows Up and What Strong Families Do About It
Family business challenges rarely start with strategy—they often stem from inherited patterns of communication, conflict, and identity that have shaped the family for generations. The good news is that while these patterns are powerful, families that intentionally build awareness, resilience, and better governance can break the cycle and prepare the next generation to lead differently.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Talking Business with Tom Garrity: The Next Generation’s Dilemma
If you want your Next Gen in the family business, read how to make it a place where capable adults can lead, grow and be trusted. Otherwise, they’ll blaze their own trail – and they won’t be wrong to do so.
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BLOG | TRANSITION / SUCCESSION
Talking Business with Tom: Avoiding Next-Generation Stall-Out
Thousands of family businesses will change hands in the coming decade. Some will thrive across generations. Others will stall quietly, then disappear. The difference won’t be luck. It will be preparation.
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BLOG | LEADERSHIP
The Golden Thread that Binds Family, Business, and Ownership
The most successful family businesses don’t leave leadership development to chance. They recognize that leadership isn’t just about a single person at the top – it’s about building a system that supports leadership at every level – and through each of the 3 domains of a family business. It truly IS the golden thread that binds.
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BLOG | EXECUTION
Hitting a Wall in Business: Which Blocks are in Your Wall?
A management team had hit “that wall”. Sales were stagnant and communication was at an all-time low. The team dreaded meetings and they weren’t sure how to move forward. Learn how the owner transformed his stagnant company with the help of a new CFO and consulting support, resulting in a significant profit increase and revitalized team dynamics.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
The 4-Letter Word Owners Can’t Afford NOT to Talk About: EXIT
I’ve had my share of family business owners who avoid discussing this four-letter word to the point of pure denial, quickly ending the conversation when this word bubbles up. The word? E-X-I-T. It sounds so final. The brutal truth is that 100% of owners exit the business, yet only 50% – just 1 out of 2 owners – will do it on their terms...
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Business Issues: Identify and solve, or they could cost you.
Part of the challenge in a family business, or any business for that matter, is that the world does not stop and allow you to pursue your strategy in a nice, orderly fashion. Whether it is internal or external, business issues pop up throughout the day. So how do you prevent issues from derailing the company’s progress? Here are a few ideas for minimizing their occurrence and how to deal with them effectively when they do happen.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
The Many Facets of Ownership
In 1978 the 2-circle illustration of family business evolved when Harvard business professor Renato Tagiuri and then-graduate student John Davis added a third circle – Ownership – to better account for the distinct groups that existed in a family business. With the addition of Ownership, the 3-circle model more accurately captured the seven facets of ownership.
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BLOG | LEADERSHIP
Leadership Is Not What You Think
When I first started Compass Point 20 years ago, leadership was an ancillary topic. My work focused on the systems, financials, hiring the right people, and being a confidant to the owner. At the time I didn’t see it as leadership coaching, but rather as building a relationship with a client who trusted me enough to let me see the inner workings of their mind and business. I helped the person as I helped the business. Times – and leadership – have changed.
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BLOG | LEADERSHIP
The Many Hats of a Family Business
Product. Team. Customers. Processes. Sales. Revenue. Profit. Cash. These are the elements to any good, viable business. But a family business needs more than just those elements to build a sustainable family business. With many dynamics at play, the business owner needs to understand which "hat" to wear, when to wear it, and when to switch. Do you know how to manage it all?
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BLOG | FAMILY DYNAMICS / GOVERNANCE
A Strong Family Business Isn’t Perfect
Running a family business is a lot like any other business. There are sales goals to meet, market trends to monitor, supply chains to navigate, stakeholders’ expectations to manage and people to hire, fire and develop. Pretty much the same… UNTIL you add FAMILY. And then, there are family dynamics to consider as you chart your business's course and build a strong family business.
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