Handbooks Building Strong Family Teams
Building Strong Family Teams
focuses on the challenges in creating effective co-leadership teams in a family business. Comprehensive and packed with real-life examples, it provides proven techniques and practical models that will increase the power of teamwork throughout the company. Its 170+ pages covers such critical questions as:
- How to determine titles, roles, and fair compensation in a sibling partnership
- What rules and governance structures are needed to foster teamwork among cousins
- How husbands and wives divide responsibilities in the business and keep home and office lives separate
- How to build executive management teams and employee work teams.
1. Teamwork in the Family Business: Starting Points
The growing trend toward teams and partnership
Knowing when to change to a team-based organization
What families must realize about building a leadership team
Steps to creating a team atmosphere
2. Sibling Partnerships: Making Them Work
Tasks and pitfalls in a sibling partnership
First step: Establish a shared dream
Pros and cons of 50:50 sibling partnerships
Creating a level playing field for sibling co-leaders
Settling ownership between siblings who’ve drifted apart
Profile: Vietri Inc.’s sibling partnership uses its board to fuel growth
Profile: Three siblings define their roles when taking over Otterbine-Barebo
3. Cousin Consortiums: Managing Family and Company
Building a working relationship among cousins
Nordstrom: Letting cousins take over
Best ways for selecting third generation leaders
Profile: How Vellano cousins bought out their father-partners
Profile: How two cousins lead Ashforth Co. as co-managing partners
4. Husbands and Wives: Teaming Up to Create Growth
Common threads of successful spouse teams
Beating the stresses of mom-and-pop partnerships
How five couples separate home, work, and responsibilities
Using assessment exercises to find the ideal role for each partner
Self-test for compatibility in running a business
Profile: Rosann and Art Levy overcome the hazards of teaming up
Profile: Tim and Nina Zagat create a family brand name together
5. Building Better Executive Teams
Ten strategies that encourage co-leadership
How and when to form a team at the top
Teaming up with hired managers to spur growth
One model: Creation of an “office of the president”
Profile: All Metro Health Care’s dynamic executive team
Profile: How the Cogliano brothers built an executive team culture
6. Creating Employee Work Teams
How to form, inspire, lead and support teams in the workplace
When not to form a team
Encouraging teamwork and rewarding team performance
Ways to recognize potential team players
Profile: How Rosenbluth Travel instills the team spirit in employees
Profile: Marriott’s recognition of its team players
7. Bringing the Family Team Together
Understanding stages of ownership evolution
How to pull family stakeholders together
Giving inactive shareholders a voice
Non-stock ways to compensate family shareholders
Settling disputes…and neutralizing troublemakers
How partners from different families can build cooperation
Profile: How a financial partnership keeps Wal-Mart’s Walton family together
Profile: How Ronda Vecchio brings family members together as a business team
8. Transitions to Shared Leadership
Understanding transitions to sibling and cousin teams
Planning the changeover to co-leaders
Beating the special problems faced by co-successors
Teaching successors about teamwork
How partners from different families can choose successors
Profile: The third generation at Artkraft Strauss trains itself to take over
9.Requirements for Successful
Family Business Teams
Overcoming obstacles to good communications
Maintaining trust among all family members
Why leaders must build consensus
Resolving conflicts, getting around impasses
10. Practical Tools for Achieving Teamwork
Partnership charters specify partners’ expectations
Constitutions to establish the rights of active and non-active owners
Ensuring family councils elicit members’ aspirations and views
Using retreats to smooth out disagreements and facilitate future planning
11. Resources
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