Family Dynamics / Governance
BLOG | FAMILY DYNAMICS / GOVERNANCE
Becoming a Family Business: This Firm Lives What They Teach
You may know the man in the photo as Tom Garrity, Founder of Compass Point, a family business consulting firm in Southeastern PA, headquartered in the Lehigh Valley; I know him as my inspiration, mentor, confidante, tennis partner, and best of all – my dad. This blog marks...
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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 | 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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BLOG | EXECUTION
Family Business Growth: Charting Your Course versus Any Wind Will Do
One of the biggest barriers to family business growth is the lack of a written strategic plan. Why written? Because research shows when you write down your goals, you are 42% more likely to achieve the desired results. Who doesn’t want those odds on their side?
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Family Business Consultants: The Rising Tide That Lifts All Boats
Family business leaders face tremendous stress as they deal with all the challenges of business, and also the inherent intertwining of business...
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BLOG | FAMILY DYNAMICS / GOVERNANCE
The 5Ds of Life: Cliff Notes & Challenge
Over the last few months, I have shared blogs about the 5Ds of Life – five life events that can derail your...
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Family Disagreements
When disagreements happen in a family business, they can have devastating life-long effects on the family, the business and the employees.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
The Most Limiting Word
Words matter. Because we become what we think about. And words are an outcome of our thoughts, consciously or subconsciously...
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Don’t Lose the House
Why did I leave a comfortable position in higher education to help family businesses grow, thrive, and create legacies? Here’s a little look behind the curtain.
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BLOG | FAMILY DYNAMICS / GOVERNANCE
Distress on the highway of life & business
While the internal impact of distress is both financial and emotional, the...
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