Transition / Succession
BLOG | TRANSITION / SUCCESSION
The Cost of Holding On Too Long in a Family Business
Many owners believe they’re doing what’s best by staying at the center of decision-making, but this approach often creates instability and risk. Delaying family business succession planning can have serious consequences – not only for the business, but for the family relationships and legacy, too.
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BLOG | TRANSITION / SUCCESSION
Family Business or Game of Thrones
You’ve built the kingdom – brick by brick, deal by deal, risk by risk. Now you’re seated at the head of the table, with years of sacrifice behind you. And all eyes are on what happens next. But it's not clear who will take over. Not clear who wants to lead. Not clear who is ready. Let the games begin...
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BLOG | FAMILY DYNAMICS / GOVERNANCE
NextGen. First Year. What I’ve Learned (So Far)
This time last year, I officially joined the Compass Point team – not just as a family member cheering from the sidelines, but as a full-fledged part of the crew. Since then, I’ve learned more than I ever expected…
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BLOG | TRANSITION / SUCCESSION
Bridging Generations: Governance and Communication Ensures Long-Term Family Business Success
Working in a family can be a rollercoaster experience. It’s rewarding, exciting, and filled with purpose – but it can also get complicated, emotional, and stressful. This is why establishing proper governance in a family business is essential. Without it, the lines between family and business can blur, causing confusion, resentment, and ultimately dysfunction.
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BLOG | TRANSITION / SUCCESSION
From Empires to Enterprises: Succession strategies that make or break legacies
History provides us the benefit of hindsight and powerful lessons. Take Genghis Khan and Alexander the Great, both great conquerors. Yet one implemented a structured succession plan that ensured the survival and expansion of his empire, while the other's failure to do so led to the disintegration of his vast holdings shortly after his death. A strong succession planning is the ultimate competitive advantage.
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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 | STRATEGY
The Speed of Change. Buckle up.
We have all heard the phrase “the only guarantees in life are Death and Taxes”. I would argue that “Change” should be added to that list.
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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
Distress on the highway of life & business
While the internal impact of distress is both financial and emotional, the...
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