The 10th Commandment Of Family Business Succession: Create Family Unity

If you've been following this series of 10 commandments, you know my belief is that preparation is the No. 1 ingredient for implementing any goal, but especially true for succession planning. The reason is that I see so many predecessors who mistakenly believe that they can control everything from their grave, including their kids. So they create complex tax-saving wills. They mistakenly believe that their children left to their own devices will play nice with their siblings and with other family members, especially with a lot of money at stake. They believe that nobody in their right mind would sue their brother or sister in court. Most importantly, they mistakenly believe that their family

How to thrive as a working couple when you’re undergoing a major transition Transitions are a normal

Frequent transitions have become a common feature of contemporary careers. Some are traditional career steps, such as a move up the corporate ladder or a move out to another company. Others are more radical shifts that reorient or reinvent our career paths entirely. We might be thinking about changing our line of work, moving to a new country, or starting our own business. While exciting, these transitions can be stressful. And when working couples are juggling two careers with two sets of change, the stress becomes even more acute. Take Indira and Nick (a real couple whose names I’ve changed). After 17 years together, two successful careers, and three children, they felt that they had figur

A Harvard Scientist (Amy Edmondson) Developed a Diagnostic Tool to Determine Your Team's Level o

We've all been there: You're in a meeting and suddenly, you're struck with a question or idea. However, due to the fear of humiliation, you internalize it and say nothing. You've just experienced an environment absent of psychological safety. It doesn't seem like that big of a deal, but the cumulative effect of withholding information is an epidemic that impacts team effectiveness. For the longest time, Google, like most organizations, assumed that building the best teams meant compiling the best people. But, it wanted to know for sure. So, in 2012, the company set out on a mission to answer the question: why do some teams excel while others underperform? As you would expect, Google took a v

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