This article originally published in Corp! Magazine, May 2019 Professional athletes often extend their careers beyond their prime. Sometimes they even get to a point known as “punch drunk.” Maybe it’s because of money, celebrity, career goals, or nothing in the “what’s next” column. Regardless, supporters look at those athletes as playing too long to […]
This article originally published in Corp! Magazine, September/October 2018 Especially in a family business, the single best way to avoid conflict is to anticipate issues and resolve matters before the proverbial pot boils over. When times are good, the tendency is to put conflict on the back burner and let it simmer. The longer it […]
The ‘business is business’ mindset can be a problem in a family enterprise. The family dynamics factor in a family business is strength and a weakness, an opportunity and a threat. Six best practices are proposed.
Conflict in a family business is normal. But it needs to be addressed and managed before it is allowed to dominate poor governance and ultimately destroy the business. The conflict paradigm is one protocol that works well with many work groups.
The accounting function of a business should measure more than profit and equity once a year. It should provide a service for management to help determine how money was made and how equity can be increased.