Family Business Wiki's Town Square

Family Business Wiki's TOWN SQUARE

August 2011 Blog Posts (13)

The Family Office: Three Essential Questions, Three Honest Answers

On July 26, 2011, George Soros announced to investors worldwide that he would be closing his fund and sending money back to investors. His reason--to form his personal family office. That same day, an influential commodities market CEO and derivatives investor signed final paperwork to engage a professional family office. Also that same day, a family business patriarch sold his business and moved his 28-year employee and general counsel to a new position--head of his personal office, charged…

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Added by John Benevides on August 29, 2011 at 10:00pm — No Comments

Introduction to This Month's Family Office Blogs

A year ago I edited a series of blogs on multi-generational families of wealth and family offices. Those blogs were mostly introductory and defined the territory and the needs. This year, much has happened. The world of wealth is in turmoil, and the domain of family wealth management services, including family offices, is in deep transition. The blogs in this year's series are thoughtful and cutting edge, with leading experts in the field offering assessments, key concepts and surveying the… Continue

Added by Dennis Jaffe on August 26, 2011 at 10:15am — No Comments

Why A Family Needs Family Governance Across Generations

Generational transitions are a deep challenge for a family not just with a family business but who own any sort of shared assets. Of course, any sort of enterprise faces difficulty when it gets to be 20 or 30 years old—it matures, faces new competition, or declines.  It needs fresh and new leadership. 

But for family owners the challenge has another facet. The owners of a public company are strangers—their personal bonds are not a factor in making decisions. They sell their shares if…

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Added by Dennis Jaffe on August 26, 2011 at 10:08am — No Comments

It’s Not Personal, It’s Business: Separating the Family Wealth from the Operating Company

It starts on a small scale; the founder of the business may ask his CFO to help with some personal tax matters.  As the family and the business grow, the scope of the personal wealth management services being handled inside the company grows as well.  The IT department helps a second-generation member with his personal computer set-up, and the company’s in-house counsel drafts an estate plan for the family.  At this point, lines get blurred.  When is the work that operating company employees…

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Added by Lisa Ottum on August 25, 2011 at 5:30pm — No Comments

Promote Mistakes

“Since the way we learn is by making mistakes, the greatest risk of all is to wait too long to begin making those.”

“Failure defeats losers, failure inspires winners.Robert T. Kiyosaki, author, entrepreneur, investor.

“Entrepreneurs average 3.8 failures before final success.  What sets the successful ones apart is their amazing persistence.”  Lisa M. Amos

“I have not failed; I have just found 10,000 ways that won’t work.”  Thomas…

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Added by Deb Houden on August 25, 2011 at 4:07pm — 1 Comment

Enhancing the soundness of family companies through the use of family councils and educating the next generation

Enhancing the soundness of family companies through the use of family councils and educating the next generation



60% of family businesses disappear not due to business problems but due to family problems. Thus, a family business needs a strong and united family behind the business. This requires work and commitment as a family's strength is measured not only by love – but also in the way they handle their disagreements.



Paradoxically, the human family is a group in…

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Added by Joan Amat on August 22, 2011 at 3:30pm — No Comments

Reforzar la solidez de la familia empresaria a través del consejo de familia y la educación a la siguiente generación

REFORZAR LA SOLIDEZ DE LA FAMILIA EMPRESARIA A TRAVES DEL CONSEJO DE FAMILIA Y LA EDUCACION A LA SIGUIENTE GENERACION

 

El 60 % de las empresas familiares que desaparecen no lo hacen por problemas empresariales sino por problemas familiares. Por esto, una empresa familiar necesita tener una familia empresaria sólida y unida detrás. Esto exige trabajo y compromiso pues la fortaleza de una familia no se mide sólo por el cariño que se profesan los familiares…

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Added by Joan Amat on August 22, 2011 at 3:30pm — No Comments

El desasosiego del fundador jubilable

Quien honra a su padre expía sus pecados, recibirá el contento de sus hijos y vivirá largos días. No todos los hijos de los empresarios honran a sus respectivos padres y, por tanto, no tendrán largos días felices.

Conozco a varios hijos de familias empresarias que en su vida han causado y están causando desasosiego y dolorosa tristeza a sus padres, tengan estos cincuenta años o hayan alcanzado la recta final de su camino octogenario. A veces este desasosiego es debido a que los padres…

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Added by Jose Javier Rodriguez Alcaide on August 17, 2011 at 9:01pm — 1 Comment

Control Freaks and Associated Curses

A thorough succession plan addresses the organizational and family issues that can impact the continued success of the business through the next generation of owners and managers.  A control freak at the helm significantly complicates two components of the Succession Matrixsm: successor identification and development and management teamwork and synergy. Notably, the control freak represents a barrier to the development of successors and supporting managers who have the confidence and competence… Continue

Added by Loyd Rawls on August 17, 2011 at 10:00am — No Comments

Navegación por tres océanos con las Familias Empresarias

 

Cuando una familia empresaria y un asesor externo se embarcan en un proyecto de consultoría, es necesario que todos los protagonistas entiendan que cada una de las decisiones que se adopten influirán tanto en la empresa –en la propiedad y en el negocio- como en la familia. Estas mutarán, cambiarán para siempre.

En este sentido, es esencial que las familias empresarias reflexionen sobre desde dónde parten y a dónde…

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Added by Begoña Pereira-Otero on August 11, 2011 at 12:17pm — No Comments

Navigation by three oceans with the Family Business

 

When a family business and an external consultant start to work together, it is important that all the parts understand that each of the decisions made will influence the company, the ownership, and the family-in-business -- these entities which will continue to change over time.



Thus it is essential that the family business reflect upon where it is and where it wants to go.  An accurate understanding of one’s…

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Added by Begoña Pereira-Otero on August 11, 2011 at 12:00pm — No Comments

A coaching perspective into Family businesses

                                                    A coaching perspective into Family businesses

I am one of those newcomers into the field of family business consulting. Indeed I am not a consultant but an executive coach with great tools and experience to help business owners and entrepreneurs to achieve success.

When I attended my first Family Firm Institute (FFI) conference three years ago, I was overwhelmed by the trust that some families deposit on their “trusted…

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Added by Marilena Beuses on August 8, 2011 at 12:30pm — 2 Comments

Una perspectiva desde el Coaching a Empresas Familiares

                         Una perspectiva desde el Coaching a Empresas Familiares





Soy una de esos recién llegados al campo de la consultoría de empresas familiares. En realidad no soy un consultor, sino una coach ejecutiva con excelentes herramientas y experiencia para ayudar a los dueños de negocios y empresarios para lograr el éxito.



Cuando asistí a mi primera conferencia del Family Firm Institute (FFI)…

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Added by Marilena Beuses on August 8, 2011 at 12:27pm — 2 Comments

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