Insights

Should You Become an Entrepreneur or Join the Family Business? (Pt. I)

Published on 2023-07-10 by Ruschelle Khanna, LCSW

Making the decision between joining your family's business or pursuing your own entrepreneurial path can be challenging. The allure of a guaranteed job from your family, particularly in an uncertain job market, can make it difficult to turn down such an opportunity.Working for a family business demands effective communication, vulnerability,...

The Rise Of Inflation And The Reaction Of Family Businesses

Published on 2022-12-02 by Family Business Office

As the profit of small businesses are stretched thin, 60% have been forced to increase their products’ prices to pass on the higher costs of labor and supplies to customers. Inflation also creates strain for business leaders, as it distracts their attention from fundamental business practices towards solving issues with...

A Culture Of Continuity Is The Key To Family Business Longevity

Published on 2022-11-21 by Josh Baron, Rob Lachenauer

Rob LachenauerFamily businesses can represent both the best and worst form of capitalism. We’ve seen families build and nurture businesses that invest in the long term, in their communities and in working and growing together as families. But we’ve also seen the other side: At their worst, family businesses can...

How your family-owned businesses can grow its social media following

Published on 2022-11-15 by Stephany Russell

Building a social media following is difficult. It's a tedious and monotonous slow climb that takes investment from your business, oftentimes without providing any tangible return at first. This is a pain point that many executives at family-owned businesses all over the nation are facing, and one that the marketing...

How To Overcome Challenges In Leading Intergenerational Teams

Published on 2022-11-09 by SMU Lee Kong Chian School of Business Social Media Team

As digital disruption transforms industries globally, organisations are hiring younger digital natives who could hasten their technological shift. The modern workforce is witnessing the rise of millennial executives managing older colleagues, or business leaders navigating tensions between various generations within a team.According to a recent survey by automation tool Zapier,...

Branding Your Family Business After The Pandemic

Published on 2022-11-02 by R. Travis Coley, Ann Marie Liotta and Charlie J. Carr

The COVID-19 pandemic has altered the business landscape, resulting in both demand shock and supply disruption. In a matter of weeks, we moved from growth and expansion to a full stoppage of non-essential activities, along with universal concern about the health of our families, friends and co-workers.Once the coronavirus pandemic...

Don’t Let Conflict Wreck the Family Business

Published on 2022-10-19 by Steven Yoder

The photo above shown Warren, Jody and Ryan Bogle at the Bogle family winery in Clarksburg. The siblings share a vision for sustainability and what’s best for employees and the company. (Photo courtesy of The Bogle family)January and February 2015 were dark times for Chris Benziger. He was the youngest...

Are Siblings More Important Than Parents?

Published on 2022-10-14 by Ben Healy

Photo by Annie Spratt on UnsplashWe don’t choose our siblings the way we choose our partners and friends. Of course, we don’t choose our parents either, but they usually make that up to us by sustaining us on the way to adulthood. Brothers and sisters are just sort of there....

Plan a Smooth Succession for Your Family Business

Published on 2022-10-14 by Amy Castoro and Fred Krawchuk

Photo by Thinkstock/Getty ImagesSummary: A central concern of family business leaders is assessing the readiness of the next generation to take over the business. This is critical, because research shows that 25% of failed transitions occur due to a lack of a prepared heir. Taking time to co-design what readiness...

Clubhouse Discussion - Preserving Culture & Innovating New

Published on 2022-08-02 by Clubhouse

Mei  Inovatif+ is a platform for the next generation of family business leaders and for them to explore, learn, share insights and to act like a support group. It also aims to see what collaboration we may potentially do and hopefully, to make the journey as a next generation different...