Snow Shoveling & Leadership Development

October 28, 2014Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Winter is approaching and snow will soon be upon us. Last winter my 15-year-old son Jeremy was feeling industrious and decided to make some money shoveling in the neighborhood.  We have him pay for his iPhone and the monthly data charges so cash is essential – a great way to combat entitlement and help him understand the value of a buck. I watched out the window as he and his slight and not-so-athletic buddy headed out in over a foot Read more »

Children in the Family Business: Part II

June 24, 2014Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Collaboration between professionals is crucially important for enterprising families. In this month’s Family Business Minute I “walk the walk” as I team up with my colleague from the Family Firm Institute, Tibor Dani, who interviews me on the topic of Bringing Children into the Family Business for his cool, new webcast site Family Businesscast (in his state-of-the-art, green-screen studio in northern New Jersey). Lots of fun! Please take a look and let me know if I applied my wife’s makeup properly. This interview builds on my February 2014 blog post and goes much deeper into best Read more »

Teach Your Children Well

May 28, 2014Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Crosby, Stills, Nash and Young, the folk rock supergroup, offered some pretty good advice when it comes to family business and the next generation with their song “Teach Your Children Well”. Too often I am called into enterprising family situations where the struggles of the next generation are related to a lack of formal plans to pass along hard-won knowledge from the senior generation. While we often think of the stereotype of a senior generation leader who will not let go, I recently encouraged Read more »

Bringing Children into the Family Business

February 19, 2014Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

One of the main ways that a single entrepreneur takes the first step toward a “Family Enterprise” is by involving the next generation: children. Often, this process is informal; summers and weekends turn into a full-time job after college or right after high school if college is not in the cards. There is, however, such a thing as being too informal about this transition, and it can and does lead to trouble down the road. Here are some suggestions for Read more »