The Ninth Commandment Of Family Business Succession: Pass On Your Values

Recently, I was involved with a few family businesses of which the founders were values-driven, not money-driven. They gave back to their communities, even when they didn’t have much to share. They were ethical, honest, upstanding citizens, yet their businesses descended into the abyss of deceit and bitter inter-familial, dysfunctional relationships. Did the founders not believe that family values and business ethics were important? Of course they did! So what happened? Family members tossed those values out the window, disregarding the important messages they were to have learned and integrated into their lives and into the business. I believe that there are some key lessons to be learned h

The Eighth Commandment Of Family Business Succession: Make The Rest Of Your Life The Best Of LifeUnt

Retirement should not be a death sentence. Rather, it should be the opportunity to re-invent yourself, do the things you have never done before but always secretly wished for, learn new things, travel, join new classes and the list goes on. The first pre-requisite is to have a positive outlook on your new phase in life. This usually requires having a positive outlook on everything in your life. Let me share with you two very different people I know and their responses to retirement. Both retirees had very successful careers — money was not even an issue — and both had a loving family. Yet one was forever miserable and burdensome while the other was full of life and looking at the opportuniti

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