Tip of the month:
Governance, Ugh. I recognize that the word "governance" is as far from "sexy" as possible, and Chapter 8 of my book Shift your Family Business is even called "Governance, Ugh!"
What it boils down to is establishing some Rules of Engagement. How will you make decisions together, communicate, and solve problems as a group.
Companies usually have some form of these in place, and when you are planning on transitioning a business and/or assets to a next generation, you better have some rules for family stuff too!
And as usual, it is MUCH better to have some guidelines in place well BEFORE you end up in a situation where you will ever really need them.
- I really believe in the principle of "permission-based emails". I value my subscribers and never want to be seen as someone who abuses this privilege. I have therefore now set up subscription options.
The choices are: Weekly Blogs only; Monthly Newsletter only, and Both Weekly Blogs and Monthly Newsletter.
If you are OK with things as they are (getting both) you do not need to do anything.
- FFI Miami
I will be heading to another annual conference in a couple of weeks, this time in Miami.
The Family Firm Institute will be having their 30th annual gathering: https://ffi.site-ym.com/?page=globalconference
It is always a great place to interact with others in this space from around the world, and to learn how the field of family business, wealth, and legacy continues to evolve.
My Baby, My Heir
Blog of the Month:
Until next month's newsletter. I hope you enjoy my weekly blogs in between.
MBA, CFA, FEA
Family Business Advisor
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