Ready to Retire? What happens to your business now?

I had a great time chatting with Chad about all things Succession Planning! Do you have someone in mind to inherit the business? Do your children even want the business?  Lots of great energy and ideas flying around this conversation… give it a listen!

5 things I’ve learned from being a family business succession coach

Something I’ve realised over the years is that the passing of a family business from one generation to the next can be a catalyst for either the success or downturn of the company. While studies have shown that family-run businesses perform exceedingly well, even more so when the family works well together, help is usually needed to make the transition …

Pat & Marie Shortt – The original founders of ETC Consult (and my parents)

In this episode, as it’s the very first episode of our first season of our new podcast about Family Businesses and Succession Planning – I thought it was only fitting to have the original founders of my own family business on to talk about their journey and what they’ve learned along the way. I knew most of the stories, having …

3 Signs You Need To Review Your Family Business Values

Core values are the foundation on which a business is built. They help define the company’s identity and govern its actions and decisions. Every business has unique core values that set it apart from other companies. They play an important role in shaping the company’s vision and guiding its day-to-day operations. There are many different types of values in business …

Next Gen Prep: What should your kids study to join the family business?

Should you encourage your children to study a particular field to prepare them for working in your family business? It’s not essential, and the best approach is giving them the freedom to follow their passion. Inevitably, success will follow. Working in family businesses can be difficult. That’s why it’s so important that the people involved are passionate about what they …

Should family businesses be more entrepreneurial?

Consider this if you’re looking for a link between family business and entrepreneurship. Three-quarters of companies in 48 economies are founded with significant family involvement. In the US, 30% pull in family members within the first two years. Family is an essential component of entrepreneurship. A family business is the product of a successful entrepreneur. While it may be tempting …

Why is conflict in a family business invevitable?

A family business has the potential to create lasting bonds, wealth, employment and a legacy for the family behind it. Some of the most successful businesses in the world are run by families, and their focus on long-term benefits and values puts them in an advantageous position in today’s changing economy. Families, however, are inherently complicated entities in which relationships …