This week I flew from my hometown of Dallas to address the Chicago Family Business Council at DePaul University. I was so honored to address this illustrious group of family companies and I am very appreciative of their faith in me and the work I...
Historians say that the costliest of all human conflict is civil war. When brother picks up arms against brother, there are no winners. A family business can inherently be a combative environment to operate within. Anyone who has ever sat at a Thanksgiving dinner probably has...
The United States has weathered many storms in the centuries since our founding – depression, recession, war, social upheaval, terrorism. We have been led by wise leaders and by mere mortals who have been viewed harshly through the lens of history. Through all of the...
The old adage says that death and taxes are the only certainties in life. This is very much apparent for family businesses. The prospect of neither is pleasant – neither can be avoided. It can be very uncomfortable to raise issues of aging and mortality with...
In order for a family to manage the complex challenges of family wealth, it is critical that a family learn how to conduct successful family meetings and to have them on a regular basis. A good family meeting has a beginning, a middle and an end,...
Aloha! I'm writing this blog from my hotel room at Waikiki Beach in Honolulu. I'm here to present at the Annual Retreat for 30-40 families involved in the Hawaii Family Business Conference. Over the course of two days I'll give three separate talks, including: 1. The Rise...
Phew! I did it - my first book release party for my first book, Cutter Frisco - Growing Up on the original Southfork Ranch. I have to say it was a standing-room-only affair at the Depot in the Frisco Heritage Center. Even though the building...
This is the usual response I get when trying to convince a family to put together a written constitution for a family business. Informality works great in the early stages; it’s the heart and soul of most entrepreneurs. “I make the rules – why put...
"In the absence of a valid exit strategy, events will inexorably dictate the final exit for the business." - Gardner H. Russell I was honored to be asked to speak at the North Texas Chapter of the Exit Planning Institute in Dallas recently. My colleague, Joan...
In a word - YES! My 70 year old father as well as my oldest brother both needed an exit plan. These kinds of plans could have been put in place by a competent outside professional such as a Certified Exit Planning Advisor (CEPA). Doing so would...
