The Austin Family Business Program excels as a pacesetting family business resource. We prepare family businesses to balance the well-being of the business, the family and individuals, as they address the challenges and opportunities which inevitably arise, day to day and during succession. We foster healthy family businesses—through innovative tools, hands-on learning opportunities and honest talk.
One of the primary challenges for any growing family enterprise is moving beyond the “start-up” mentality to prepare for the next level of growth and complexity. Structures and processes that worked in the less formal earlier stages of the business are usually not suitable for long term growth and eventual succession. Here are three takeaways… Continue reading
As your business grows and family members mature, family dynamics and the decision-making process become much more complicated. When the enterprise prepares to move beyond the founder phase into succeeding generations it is important to consider not only business governance, but how the family will be governed in relation to the business. Effective family governance… Continue reading
Family farm owners in our recent workshops were concerned about passing the daily management responsibilities from the incumbent generation to the heirs. The perfect activity to start this conversation was a family business inspired version of The Newlywed Game. Each generation was asked a series of questions to answer with a response they expected the… Continue reading
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Among the CEOs on the 2016 list of Americas fastest growing companies, half grew up in a family business. The fact that the second and later generation children of enterprising families are more likely to go into business is of great importance in Oregon where upwards of 80 percent of our businesses are family-owned. At… Continue reading
The post Six questions you need to answer if you want your family business successor to succeed appeared first on Austin Family Business Program.