The Role of Respect in Leadership and Legacy
There’s no legacy without mutual respect. Every possible path forward will only succeed if there is true, honest respect among all the constituents: management, owners, and family members. Respect is near and dear to my heart. It helped heal wounds of communication in my family and it powers my work and relationships. In my book […]
Governance as a Key to Building Legacy
Building a legacy in a family business requires more than just passion—it demands an effective governance structure. Yet, only 40% of family-owned businesses reach the second generation. This post explores how a well-defined governance framework can help navigate generational changes, mitigate conflicts, and ensure long-term success. Learn why governance isn’t just for outsiders, but a vital component to managing the business and fostering growth across generations.
Stop the Screaming – Navigating Conflict in Family Business
Building a family business is challenging, but turning it into a lasting legacy is even harder. Family businesses face unique conflicts—Purpose, Direction, and Legacy—that must be addressed to ensure long-term success. In this post, we dive into these conflicts and offer insights on how leadership, generational engagement, and clear communication can help family businesses navigate these obstacles and create a sustainable legacy.
The Power of Legacy
The oldest continuously operating business in the world is family-owned and family-run. Nishiyama Onsen Keiunkan, a hot springs hotel in Japan, has been managed and nurtured by the Mahito family for 52 generations. In this post, we explore the unique challenges of family-run businesses and the importance of creating a legacy that can endure for generations. What does your legacy look like, and how can you ensure that your business continues to thrive for future generations?