Should Family Members Be on the Board of Directors?
It is one of the most consequential governance structure questions a family business will ever face, and one of the easiest to answer without enough thought. In many families, board participation feels like a natural extension of ownership or legacy. In others, it raises concerns about objectivity and accountability. The reality is that family members […]
How to Prepare the Next Generation for a Family Business
Building a successful business is an accomplishment.Preparing the next generation to lead it is a responsibility. Every multi-generational family business eventually faces the same reality: leadership will change. What determines success is not when that change happens, but how intentionally the family prepared for it. Too many families delay preparation until succession planning becomes urgent. […]