Family Business Recommends
Our publishers and editors have hand selected the following books for you to consider adding to your library. Happy reading.
How do individuals get trapped in their family business? What does it look like when someone is trapped? Is exiting the only option? Based on interviews with family business members, owners, and their advisors, Trapped in the Family Business sheds light on this common yet unexplored issue and offers solutions for how to manage it. In the expanded second edition to this practical guide, Dr. Michael Klein shares research findings, insights, and how to avoid this challenging and complex situation.
Your Business, Your Family, Their Future: How to Ensure Your Family Enterprise Thrives for Generations
From mom-and-pop stores to Fortune 500 corporations, the family business as an institution is widespread and enduring―yet only 30 percent of family enterprises successfully transition to the next generation. In this accessible and deeply informed new book, family enterprise expert Emily Griffiths-Hamilton (author of Build Your Family Bank: A Winning Vision for Multigenerational Wealth) shares the secrets of successful multigenerational family enterprises.
Through extensive research and personal and professional experience as a member of and advisor to family enterprises, Griffiths-Hamilton has developed an unconventional approach that looks beyond narrow business considerations to focus on the critical aspect of every family enterprise―the “family factor.” Successful multi-generational family enterprises, she explains, are animated by a unifying vision that rests on shared values. Mutual trust and strong communication skills are vital for families to articulate these foundational elements, which will then inform a “family enterprise framework” that can endure for generations.
Planning for the long-term health of a family business doesn’t need to be complicated. Beginning with a single meeting, family enterprises of every shape and size can use the insights in this book to build robust frameworks that will reward their members for decades to come―not just financially, but with strengthened family connections, a shared sense of purpose, and perhaps most importantly, a bit of fun.
"Nathan’s Famous: The First 100 Years of America’s Favorite Frankfurter Company" chronicles the history and business strategies of company founder Nathan Handwerker that led to the success of an iconic international brand and two of America’s most loved foods: The Nathan’s Famous Frankfurter and Crinkle-cut French Fries.
Nepotism is one of those social habits we all claim to deplore in America; it offends our sense of fair play and our pride in living in a meritocracy. But somehow nepotism prevails; we all want to help our own and a quick glance around reveals any number of successful families whose sons and daughters have gone on to accomplish objectively great things, even if they got a little help from their parents.
Families are complicated; family businesses even more so. Like other companies, family-run enterprises must develop leadership and entrepreneurial skills. But they must also manage family dynamics that rarely mirror the best practices in the latest Harvard Business Review.
Allan Cohen and Pramodita Sharma, scholars with deep professional and personal roots in family businesses, show how enterprising families can transmit the hunger for excellence across generations. Using examples of firms that flourished and those that failed, they describe the practices that characterize entrepreneurial individuals, families, and organizations and offer pragmatic advice that can be tailored to your unique situation.