Leading in a family business
Family Business Partner organized a fantastic seminar on leading in a family business.
Roy Richards, adjunct professor at IE Business School and Chairman of the Board of his own family business Southwire, US presented a highly engaging and insightful day.
Here are some of the aha-moments for our participants:
- its about money, but also about the family relations. You cannot separate them.
- its good practice to separate company from family office from family owners.
- Shareholder statements with a summary of what shareholders want are a good practice to give to the company
- family businesses need to design the right setup, which requires to make hard choices - everyday
Successful family companies do these things really well:
- Agreed Shareholder expectations
- Engaged Owners
- Carefully Planned Succession
- Reliable exits for those who wish
- Strong, independent boards