“Once Again” is in the title here because I’ve already written several blog posts about fairness in the context of family; this is one of the repeating topics arising with the enterprising families I work with. It is understandable that families often ask me for the best way to be fair in their situation. It makes complete sense that they ask this. If there was a rule book or definitive guide, I’d share it freely. Of course, there is no Read more »
What is it about family dysfunction? The large majority of my job is facilitating, educating and coaching families who share ownership of businesses and legacy wealth to help them communicate well, manage conflict, create high-functioning, family-ownership teams and develop governance for decision making, sharing information and inclusion of subsequent generations. I also specialize in working with couples–pre-children or with very young children on how to set the stage for responsible, productive and values-based lives in the context of family financial Read more »
Last month’s blog, Wet Leaves and Humility , left me in a humiliated but (slightly) wiser position as a father and consultant to business and legacy wealth families. Please read it over if you have not (only takes a couple of minutes to read) – it sets the stage for this blog. In a nutshell, my last blog tells the story of how I thought I was doing something well and my son pointed out that he had a much better way to do Read more »
Stories of fatherhood can be embarrassing. They are often instructive. For me, this tale has been both. I’m a parent to sons ages 23 (Jeremy) and 20 (Matthew). The older and wiser they get, the less intelligent I seem to be. I’m getting used to it. We have a pool in our backyard and we closed it for winter in late September. It has a huge tarp over it. In NJ this time of year, there are lots of leaves. Read more »
On April 29th, I’ll be presenting at the Prairie Family Business Association’s 29th Annual Conference . I presented in 2015 and love the state of South Dakota and wish I could be there in person this year. The conference is a hybrid and I’ll be virtual. The good news is, wherever you may be located, you can join this great conference with excellent content and more than 400 attendees. I’ll be speaking about raising children in the context of a family business (FB) – a topic I’m Read more »
When does a family business become a family business? Answers vary but usually include something to the effect of two or more family members owning a majority and having significant strategic influence over the business. One of the most common seeds of a family business (FB) is sown when the founder of a business decides to include other family members in ownership and leadership, whether now or in the future. While the founder can engage cousins, a spouse or other Read more »
Hi Friends/Colleagues, I’m facilitating a free, virtual workshop about raising children in the context of a family business. The workshop is in coordination with NYCFEC (NY City Family Enterprise Center) and is intended for business families in the greater NYC area. Tuesday, May 5th, 2020 – 4 pm – 6 pm. Come as my guest for no fee using code – JS051 – at checkout. This is a small, personal and highly interactive workshop – learning and fun. Feel free to share this with anyone who Read more »
Do Won Chang and Jin Sook Chang created the retail chain Forever 21 from nothing when they came to the U.S. from South Korea. They built it to revenues of more than $4B at its height and had 43,000 employees. Their daughters, Linda and Esther, both received Ivy-league educations and were given high-level executive positions. Mr. Chang was CEO dealing with real estate and vendors and Mrs. Chang was heading up design and merchandising. At the end of last year, Read more »
If you’ve read any of these posts over the years, you know I like to connect rock music and family business one way or another. Earlier this month elite rock drummer Neil Peart, of Rush fame, died. I’ve been a Rush fan since 1980 and have been mesmerized by the speed and complexity of Peart’s drumming and the deep, meaningful lyrics for which he was mainly responsible. Often known as “nerd rock” or “cerebral rock,” Rush quoted Shakespeare and Ayn Read more »
My friend and colleague, Michael Palumbos of Family Wealth & Legacy, LLC , has founded the Upstate NY Family Business Group. The inaugural Upstate New York Family Business Day Symposium will take place September 24, 2019 in the greater Rochester, NY area. I’ll be giving an opening keynote entitled “Cracking the Family Business Code” in which I’ll address the opportunities and challenges of combining family and business. In addition, I will present my Metallica documentary-based session “What Your Family Business Can Learn from Metallica” in the afternoon, which is consistently my most highly rated session. Read more »
