Family Business Success Factors
By Dean Fowler and Peg Masterson Edquist
5/5
()
About this ebook
Seventy-percent of all family business transitions fail. What to successful families do to beat these odds?
We carried out a research project with over 100 successful family businesses, and through our study identified twelve critical success factors for families-in-business. The twelve factors fall into four major categories:
- Transforming Communication: Family Culture, Career Satisfaction, and Family Relationships
- Enhancing Leadership: Successor Development, Successor Competency, and Compensation Standards
- Creating Strategies: Business Structure, Non-Family Management and Business Strategy
- Building Responsible Ownership: Management Succession, Financial Planning and Tax Planning
This collection of short articles is based on the stories of the families featured in our full-length book - Love, Power and Money: Family Business Between Generations. We have organized the articles around the four major categories outlined above.
You may also evaluate how well your own family business is doing against these twelve success factors by completing our comprehensive Family Business Assessment ToolTM.
Dean Fowler
Dean R. Fowler, Ph.D. is recognized as one of the world’s leading experts specializing in the emotional dynamics that impact families-in-business and families of wealth. The international association, The Family Firm Institute, recently honored him by selecting him to receive the prestigious “Award for Interdisciplinary Achievement”. His book – Love, Power and Money – has won world-wide acclaim in reviews in the major publications dealing with family enterprises as one of the best books on integrated family transition planning.In 1995 he developed The Family Business Assessment ToolTM and has since developed The Business Partners Assessment ToolTM and the Family Wealth Dynamics Assessment ToolTM.In 2008 he was appointed to serve with a select group of business leaders on the Coleman Chair Advisory Council at Marquette University’s College of Business Administration.In 2009 a new television series – Family Inc. – was launched in five Midwestern states with Dean Fowler serving as host. (family-inc.com)During the past forty years, Dean Fowler has served over 300 family clients in both the United States and Europe. His firm, Dean Fowler Associates, provides integrated services focusing on the “soft side of hard issues” by working closely with the other professional advisors trusted by the family client.
Read more from Dean Fowler
Proactive Family Business Successors Rating: 0 out of 5 stars0 ratingsLove, Power and Money Rating: 0 out of 5 stars0 ratings
Related to Family Business Success Factors
Related ebooks
Dirty Little Secrets of Family Business (3rd Edition): Ensuring Success from One Generation to the Next Rating: 0 out of 5 stars0 ratingsYour Business, Your Family, Their Future: How to Ensure Your Family Enterprise Thrives for Generations Rating: 0 out of 5 stars0 ratingsPass the Business, Please: How to Transition the Family Company to the Next Generation Rating: 0 out of 5 stars0 ratingsFamily Business: The Dynamic Manager’s Handbook On How To Build A Successful Family Company Rating: 0 out of 5 stars0 ratingsFamily, Inc.: How to Manage Parents, Siblings, Spouses, Children, and In-Laws in the Family Business Rating: 0 out of 5 stars0 ratingsThe Principles of an Unstoppable Family Business: How Successful Family Businesses Think and Grow Rating: 0 out of 5 stars0 ratingsLifetime to Legacy: A New Vision for Multigenerational Family Businesses Rating: 0 out of 5 stars0 ratingsPlanning Your Business Succession Rating: 3 out of 5 stars3/5Succession Planning for Family Businesses: Preparing for the Next Generation Rating: 0 out of 5 stars0 ratingsEntrepreneurs in Every Generation: How Successful Family Businesses Develop Their Next Leaders Rating: 0 out of 5 stars0 ratingsFamily Business: Practical Leadership Succession Planning: Exceed Your Expectations Rating: 0 out of 5 stars0 ratingsEngaged Ownership: A Guide for Owners of Family Businesses Rating: 0 out of 5 stars0 ratingsSuccession and Planning In Family Businesses: The Options and Pitfalls Rating: 0 out of 5 stars0 ratingsThe Ultimate Family Business Survival Guide Rating: 5 out of 5 stars5/5Building Family Business Champions Rating: 5 out of 5 stars5/5How to Hire and Keep Great People: Your go-to guide for finding great people, designing great culture, and building your dream team Rating: 0 out of 5 stars0 ratingsSmall Business Ceo: Strategies to Navigate the Four Stages of Growth from Start-Up to Success Rating: 0 out of 5 stars0 ratingsBusiness Recovery in Difficult Times Rating: 0 out of 5 stars0 ratingsEntrepreneur Voices on Strategic Management Rating: 0 out of 5 stars0 ratingsCorporate Governance in Family Owned Businesses: Importance of Constitution and Governance Rating: 0 out of 5 stars0 ratingsBalancing Act Rating: 0 out of 5 stars0 ratingsFamily Business Abundance: A Management System For Family Business Rating: 0 out of 5 stars0 ratingsThe Empowerment Project: Grow Your People, Grow Your Business Rating: 0 out of 5 stars0 ratingsProfitable Child Care, How to Generate More Income for Your Child Care Business Rating: 0 out of 5 stars0 ratingsThe Success Playbook for Next Gen Family Business Leaders: The Family Business Leader Series, #1 Rating: 0 out of 5 stars0 ratingsPassing Down Your Success Rating: 0 out of 5 stars0 ratingsGet Real: The Power of Genuine Leadership, A Transparent Culture, And an Authentic You Rating: 0 out of 5 stars0 ratingsSmall Business Survival 101: Principles for Fail Proofing Your Business Rating: 0 out of 5 stars0 ratingsI Have An Idea...Now What?!?: A Blueprint for the 21st Century Entrepreneur Rating: 0 out of 5 stars0 ratingsThink Like an Entrepreneur: Perform as a Leader Rating: 0 out of 5 stars0 ratings
Small Business & Entrepreneurs For You
The Side Hustle: How to Turn Your Spare Time into $1000 a Month or More Rating: 4 out of 5 stars4/5Nine-Figure Mindset: How to Go from Zero to Over $100 Million in Net Worth Rating: 5 out of 5 stars5/5How to Think Bigger: Aim Higher, Get More Motivated, and Accomplish Big Things Rating: 4 out of 5 stars4/5The Start Your Own Business Bible: 501 New Ventures You Can Launch Today Rating: 4 out of 5 stars4/5The Bitcoin Standard: The Decentralized Alternative to Central Banking Rating: 4 out of 5 stars4/5Starting a Business All-In-One For Dummies Rating: 4 out of 5 stars4/5Small Business For Dummies Rating: 4 out of 5 stars4/5The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime Rating: 5 out of 5 stars5/5Summary of Timothy Ferriss' book: The 4-Hour Workweek: More time, more money, more life: Summary Rating: 5 out of 5 stars5/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5Company Rules: Or Everything I Know About Business I Learned from the CIA Rating: 4 out of 5 stars4/5The Ultimate Side Hustle Book: 450 Moneymaking Ideas for the Gig Economy Rating: 4 out of 5 stars4/5Dream Big: Know What You Want, Why You Want It, and What You’re Going to Do About It Rating: 4 out of 5 stars4/5Without a Doubt: How to Go from Underrated to Unbeatable Rating: 4 out of 5 stars4/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It Rating: 4 out of 5 stars4/5How to Open & Operate a Financially Successful Notary Business Rating: 4 out of 5 stars4/5The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications Rating: 5 out of 5 stars5/5Creative, Inc.: The Ultimate Guide to Running a Successful Freelance Business Rating: 4 out of 5 stars4/5Overcoming Impossible: Learn to Lead, Build a Team, and Catapult Your Business to Success Rating: 5 out of 5 stars5/5How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off Rating: 4 out of 5 stars4/5The LLC and Corporation Start-Up Guide: Your Complete Guide to Launching the Right Business Rating: 5 out of 5 stars5/5UNSCRIPTED: Life, Liberty, and the Pursuit of Entrepreneurship Rating: 5 out of 5 stars5/5The Everything Nonprofit Toolkit: The all-in-one resource for establishing a nonprofit that will grow, thrive, and succeed Rating: 0 out of 5 stars0 ratingsReal Artists Don't Starve: Timeless Strategies for Thriving in the New Creative Age Rating: 4 out of 5 stars4/5
Reviews for Family Business Success Factors
2 ratings0 reviews
Book preview
Family Business Success Factors - Dean Fowler
QAphNE<0 Qe퀢&xhJBN^;`RԽ\_c*'nSLڜ+𢌡\l}B'pS J?\OF݁ nCrZLx =;J(1l FbʿsK1" ͂3|+nvoO7I !GhY',Wͮy`3WCiD0^@Ye2, ``CˤgB=p =xk0ʶ%9Cߎ=a]B>rs-}:|V@d$`v䢈~Zr>