Family Governance is a topic that most families are reluctant to address. It covers two broad topics: governance of the business and of the family. Most family businesses, especially in the formative years, take on the characteristics of the founder or founding family. Although this entrepreneurial model works for an early stage family owned business, as the company grows in size it needs gradual evolution to a different, more professional model. Boards of Advisors and professional management are two ways to improve performance of the business and family systems.
Most families find there is a need to formally discuss family issues like estate plans, family business leadership transition, and family fairness. Among the best venues to do this are Family Councils, Family Retreats, and formal Family Meetings.
BOARD OF ADVISORS
How Big Things Get Done
Did you know that megaprojects, those valued at over $1 bil, tend to flop at a fantastic rate? Projects like California’s high speed rail fiasco or failed movies like Heaven’s Gate are, sadly, the norm, not the exception. What makes big projects go so wrong so...
Power Your Company with Your Customer’s Purpose
Contracting firms with a strong sense of purpose are better able to inspire and innovate. People today want to work for an organization that not only provides a paycheck but also makes the world a better place; their motivations are quite different from those of us...
Attracting the Right Talent
Construction is and always will be a people industry. However, sourcing the best talent has never been more challenging. There are any number of reasons why it’s difficult to attract people, and one of the core reasons may be your actual job posting! Watch this week’s...