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"This book provides lawyers with step-by-step guidance on how to lead family business owners through the succession planning process to produce a result that is tailored to the unique circumstances and objectives of the owners and their successors."--Back cover.
Gifting businesses to your family is the number one destroyer of family relationships and wealth. Every Family's Business, offers a completely new view of succession planning. Over 90% of all American businesses are family owned and over the next 30 years, an unprecedented number of these 24 million family businesses worth more than $10 trillion, will transfer to the next of kin when the owners retire or die. But Every Family's Business warns that much of this family business wealth will be destroyed by a failure to plan for this historic wealth event. Every Family's Business offers a candid, common sense method for family businesses to begin their own succession plan through the aid of 12 questions which may be the most complex and difficult questions for families to address. Silence is the great destroyeer of wealth in a family business. Every family's Business is guaranteed to get family's thinking, talking and smiling about the future of their business. After addresing the 12 questions, the air will be clear as to who, when and how the business wil be owned and operated in the future -- the family succession plan will be born. The book goes further to explore the issue of why so many family businesses let their wealth and family relationships deteriorate. The book clearly shows why gifting businesses to the next generation is one of the biggest mistakes families can make. Understanding that every business has a life cycle -- understanding where every family business is in that life cycle is the key to preserving wealth and family relationships. More than half of all American family businesses have no formal succession plan. A book for the whole family to read, Every Family's Business, will help families come together and collobrate on their succession plan together. Once completed, families with a formal succession plan, stand a much better chance of protecting their generational wealth and celebrate the deep joy and satisfaction that only families in business together can experience.
Discover What Makes Family Businesses Beat the Odds and Thrive over Generations Families are complicated; family businesses even more so. Like other companies, family-run enterprises must develop leadership and entrepreneurial skills. But they must also manage family dynamics that rarely mirror the best practices in the latest Harvard Business Review. Allan Cohen and Pramodita Sharma, scholars with deep professional and personal roots in family businesses, show how enterprising families can transmit the hunger for excellence across generations. Using examples of firms that flourished and those that failed, they describe the practices that characterize entrepreneurial individuals, families, and organizations and offer pragmatic advice that can be tailored to your unique situation.
The authors explore how effective planning and communication helps business families around the world address growth challenges as they strive to become high performing multi-generation family enterprises. This book shows family businesses working together at their best.
Plan for success No one would embark on a business venture without a thorough and coherent plan. So why are so many of us happy to stagger through life with no real plan – just going with the flow, seeing what happens? It’s time we gave our lives the same importance we give to our business exploits. The Personal Business Plan offers a practical, field-tested method for effectively planning out what you want from life and exactly how to achieve it. It will change the way you look at yourself, your job and your career. This is an essential toolkit for all ambitious career professionals who want to know how to thrive in their job and simultaneously become a happier and more effective person. Creating your own personal business plan will help you to define your purpose, plan your actions, break through limiting beliefs and reinvent yourself. Written by a top executive coach and head-hunter with the world’s leading Talent Management and Executive Search firm who has changed the lives of thousands of people A field-tested methodology for identifying your mission, setting your critical success criteria, defining your agenda, keeping to the point and become more fulfilled and happier A complete life view – how to excel in your chosen career and simultaneously enjoy a happy personal life
"In this honest and practical guide, Michael Klein shares his research findings and insights on how individuals get trapped in their family business, why they don't leave, and what can be done about it. Based on interviews with family business members, owners, and their advisors, Trapped in the Family Business sheds light on this common yet unexamined problem and offers solutions"--Page 4 of cover.
Prioritizing your time and your life, you'll be able to manage a bustling home in a way that honors God and builds up family relationships. By following the clear model of Proverbs 31:10, and adapting the characteristics that make up a faithful homekeeper, you too can become an "Excellent Wife."
The Business of Family teaches readers how to write their own family business plan using time-tested strategies from the corporate world to provide a practical, user-friendly method that ensures their family knows where it's been, where it's headed, and how it's going to get there.
From small start-ups to giant multinationals, from the Mom-and-Pop owned barber shop to Ford, family owned businesses continue to dominate the world economy. Regardless of size, running a successful family firm presents unique challenges, and many fail to survive the transition to the next generation. Here is a practical, comprehensive guide to ensuring success through effective strategic planning. The authors provide a wealth of tested, easy-to-follow tools and techniques for mastering strategic planning for family-owned firms. Filled with real world examples, case studies, checklists, and planning worksheets, the book shows how to deal with a host of emerging challenges--from new technologies and globalizing marketings--by integrating family values and dynamics into sound planning and management.