Founders often express concerns about the rising generation’s perceived lack of ownership of the family business, while the rising generation attributes this perception to limited involvement in decision-making processes. A skilled advisor helps bridge this perceptual gap by encouraging dialogue and aligning expectations.

Picture Credit: Anne Marie Price

A family business board doesn’t operate in isolation, it is part of a dynamic system where multiple stakeholders interact to oversee the business. Interactions depend on family values, generational dynamics, and business goals. Customization is key to the “right” board structure and practices.

Pic Credits: Mirage by New Ravenna

While the responsibility to maintain board culture rests primarily with the chairman, it is shared among all members.

In a strong board culture, everyone has a voice, and differences of opinion are handled constructively, allowing members to share their perspectives without fear of judgment or conflict.

True value comes from integrating principles into daily interactions, regularly revisiting it to ensure it remains relevant to both family and business needs, and instilling a sense of responsibility in all family members to uphold it.

Picture credits:  Loïse Raoult

Social learning Theory, by Albert Bandura, reveals that learning happens not only through formal teaching but by observing and imitating role models.

The actions, work ethic, and decision-making of senior family leaders shape the attitudes and behaviors of the rising generation.

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……it constrains growth and prevents the business or family from evolving.
To avoid this, there must be a conscious effort to honor legacy while also adopting a forward-thinking mindset.

Picture credits: 52Frames

Our faults lie not in our stars, but in ourselves:

This timeless reminder from Shakespeare is as applicable to individuals as it is to family businesses. The often-repeated "three-generation curse" isn't destiny; rather, it's a consequence of unaddressed governance gaps.

Pic Credits: Klemen Vrankar

....the greatest legacy of a family is the people it raises.

While financial assets are important, the most enduring legacy a family can build is a generation of stewards who are prepared for the future.

Explore our advisory services for legacy building here:

https://lnkd.in/dcdAQMiG
Pic Credits: Kim R-K

Emotional bonds that allow a family business to thrive can also be a roadblock to growth and continuity. The overlap of multiple roles results in blurred boundaries, making it difficult to separate personal feelings from business decisions. Effective governance and communication education are essential to manage this paradox and channel intimacy into a source of strength.

Visit https://lnkd.in/dZg-apCG for more insights on family business governance.

Most family businesses have a growth strategy, yet they rarely have a strategy to educate the family for responsible ownership.

Instituting an Education Committee supports business success by developing the family's human capital through:
• Anticipating the developmental needs of family members
• Organizing educational activities and events
• Coordinating mentoring programs for younger family members
• Building awareness about family values and history

A structured space for continuous learning is essential to ensure that legacy is not just inherited, it is learned.

In family businesses, it's common to mistake acknowledging emotions for emotional indulgence.

But that couldn't be further from the truth.

Validation doesn’t mean agreeing or giving in. It means recognizing what someone feels without judgment. Validation helps regulate emotions rather than letting resentment fester.

Honoring emotions can be the difference between harmony and breakdown.

Pic Credits: Philippe Oursel

For most family businesses articulating the problem or identifying the root cause is challenging.
With the growing awareness of family business governance, advisors are often approached with requests for drafting the family constitution, structuring governance bodies or facilitating succession.
Real change rarely comes from proposed solutions but from pausing to reflect on the problem.

·        Is it a leadership issue or a lack of role clarity?
·        Is it disinterest from the next gen or micromanagement from the current one?
·        Is it really about fairness or about feeling heard or valued?

Transformation begins with the courage to ask better questions rather than, rushing to seek the “right” answers.
Pic Credits: Mohammad Alizade

This age-old question from Genesis 4:9 echoes in family businesses at moments when tensions arise.

The answer isn’t always straightforward. Here’s why:

·        Family business is a team game and not an individual sport. Success is rarely due to the efforts of one person.
·        Stewardship is caring for more than the balance sheet. It is as much about purpose and people as it is about profits.
·        Shared responsibility rather than control is the intention. Control builds pressure while shared responsibility creates alignment.

When families learn to lead from this perspective, the outcome is clarity and not guilt.

Pic Credits: Kunj Parekh

Misaligned owners waste valuable time and resources struggling to find common ground. A lack of alignment stalls growth and creates internal conflict that can jeopardize the family’s future.

Successful family businesses recognize this challenge and proactively establish clear governance structures that align owners around a shared vision.

If your family business is facing this challenge, it’s time to invest in a strategy that aligns your vision, roles, and values for long-term success. Not sure where to begin? Start the conversation at [email protected]."

Picture credits: Resource Database

Legacy is built when every generation plays its part. Every family member has a role. Some lead from the front, others anchor from behind.

Together, they build on each other’s strengths and bridge weaknesses. United by a single purpose, to carry the legacy forward.
Pic credits: Lysander Yuen

Legacy is built when every generation plays its part. Every family member has a role. Some lead from the front, others anchor from behind.

Together, they build on each other’s strengths and bridge weaknesses. United by a single purpose, to carry the legacy forward.
Pic credits: Lysander Yuen

For most family businesses, next-generation engagement remains elusive without intentional efforts. A common yet often overlooked challenge in this context is absentee leadership.
Many young family members enter the business without a clear purpose or structured plan. Founders sometimes mistake a laissez-faire leadership style for creative freedom or an opportunity for the next generation to explore and shine. Yet, this approach often results in the next generation losing heart when faced with challenges or setbacks.
To address this critical gap, we designed the Next-Gen Engagement Program specifically for families in business. Our program focuses on successful induction and onboarding, ensuring the next generation is fully prepared to carry the family legacy forward.
Regardless of how successful the current business is, preparing the incoming generation with clear, intentional onboarding is essential for long-term continuity and growth.
We are now inviting applications for the next cohort of our Family Business Solutions Next-Gen Program. Join us to equip your next generation with the skills, knowledge, and leadership mindset they need to thrive and succeed in your family business’s future.
To learn more visit https://lnkd.in/dN5uFFWC

A founder shared this perspective with me today!
Successfully accomplishing a goal not only requires the tenacity to keep going but also the flexibility to pivot.
Adaptation is not failure; it is wisdom in motion.
Grateful to learn from founders who speak from lived wisdom and to be able to pass it forward.
Pic Credits: Paddle North

My 6-year-old occasionally comes to the office after school. While he is soaking in the family business (We are a proud family business serving family businesses), he is also my coffee guy.
When he isn't ordering coffee for me, he's busy getting his management training on the PS4.
It truly is a privilege to share this journey with him. It also reinforces why we do what we do.
Pic Credits: Unknown

As an advisor, I often work with founders struggling to manage their next generation.
To make up for their absence, many founders subconsciously overcompensate by overlooking poor work ethic in their children. Unconditional love as a parent can sometimes come in the way of developing responsible successors.
We expect professionalism from our employees. Why should it be any different for family employees?
In these situations, I encourage clients to embrace tough love. It’s not harsh ; it’s the foundation of responsible adulthood and, ultimately, professionalism in the next generation.
At Family Biz Solutions, we help families develop next-generation leadership.
Pic Credits: Tim Foster

Family businesses thrive when they strike a delicate balance between honoring their legacy and empowering the next generation to carve their own paths.
Families can find the sweet spot by:
1. Investing early in mentorship
2. Creating effective family councils with education and career counseling as top priorities
3. Establishing an entrepreneurial fund to allow the next generation to pursue their ideas
4. Holding regular family meetings to reinforce shared values that connect the family beyond the business
Pic Credits: Jan Hildebrand

Emotions often become the default operating model in founder-led family businesses.
In my advisory work, I’ve repeatedly seen how unchecked founder sentiments negatively impact the business. Policies, processes, and clarity are what anchor a business beyond personalities.
Future-ready family businesses are built on structure and not emotions.
Pic Credits: Nathan Dumlao

Many founders mistake transition as a one-time event. Successful transitions, however, require intentional effort that spans the life cycle of the mentee.
Each stage demands a tailored approach:
Stage 1: Observation (Ages 10–20)
Early exposure to the business environment and shadowing of the family founder or senior member. The emphasis here is on vicarious learning.
Stage 2: Immersion and Delegation (Ages 20–30)
Active involvement in operations with clearly defined roles, responsibilities, authority, and accountability, overseen by the mentor.
Stage 3: Shared Leadership (Ages 30+)
The mentor and mentee jointly lead the business, allowing gradual transfer of decision-making authority.
Stage 4: Withdrawal and Oversight
The mentor transitions to a board or advisory role, while the mentee assumes full responsibility for leading the family business.
Pic Credits: Patrick Perkins