Family Business Recommends
Our publishers and editors have hand selected the following books for you to consider adding to your library. Happy reading.
A Family Council oversees a family on everything from educating the family for their future responsibilities as owners, to settling disputes within the family. With this in mind, this practical manual will guide business families on how to manage how their family governs itself and relates to their business.
In Beyond the Piggy Bank, Clint Greenleaf - entrepreneur, CEO, CPA, and father of three reveals the simple path to ensuring that your child will enter adulthood knowing how to manage their money. After exploring the existing literature on children and money, Greenleaf realized he could not prescribe the right way to teach children about money. Instead, he has created a framework that allows you to tailor a financial education to your child without leaving out any of the essentials. Beyond the Piggy Bank will help you explore your own financial values and level of financial literacy. Each of those values is then applied to a simple but fundamental lesson in your child s financial literacy journey. By the end of this book, you will have a thoughtful, well-developed, and easy-to-execute roadmap that will enable your child to confidently handle their personal finances.
Conventional thinking holds that family-controlled businesses are beset by inherent weaknesses from "clan" cultures to stable ownership that hobble success and erode competitive advantage. This book argues that those very traits are part of what has ensured the sustained success of some of the world's leading and long-lived family controlled businesses. This is not a book for "mom and pop" family businesses. Rather, it is for firms of all kinds and sizes who want to emulate the strategies of the best family-controlled businesses for long term success.
Most family business owners and wealth creators share an important vision: perpetuating family and wealth for many generations to come. To ensure wealth continuity, many families put into place various structures, plans, and processes, including estate plans (which may include multiple trusts), ownership succession plans, governance structures/strategies, and others. These sometimes-elaborate plans are aimed at preserving family wealth. In reality, for many families, they don’t. In fact, it has been estimated that a majority of estate plans in place fail, largely as a result of family conflict or communication problems. Author David Lansky reveals here that too many one-size-fits-all and elaborate continuity plans fail to take into account the idiosyncratic family factors that can interfere with continuity planning. Lansky details further how building the right foundation will help families implement the best continuity plans.
How similar are problems faced by families who work in business together? More often than not, family businesses throughout the world share common problems as they work to create a successful business without destroying the family. In Love, Power & Money: Family Business Between Generations authors Dean Fowler and Peg Masterson Edquist share the stories of countless businesses run by generations of families. Through the use of family business stories, the authors explore the powerful emotional forces unleashed in the running of a family-owned business. The chapters cover topics ranging from family dynamics, to employment strategies, business plans, and management and estate succession methods. By sharing the unique solutions that these families implemented, the book helps other families in business find the balance among love, power and money in order to master the complexities of family business transitions. The solutions show that healthy family relationships coupled with a strong business produce an enduring and successful family business, generation to generation.