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Family Business Wealth Management Blog

Samsung and Rockefeller: Tales of Chaebols and Trusts

The economic and political systems of South Korea are roiling with accusations of corruption and influence-peddling encompassing every major industry, rising all the way to the office of the president. These accusations are the latest public outcry against South Korea’s particular brand of busines[...]

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Generational Cheddar: Three Models for Innovation in Family Tradition

Recently, when composing a cheese tasting for my family, I took full advantage of the dizzying variety of cheeses available here in the state of Wisconsin. Each of the three cheddar cheese varieties we tasted were “generational cheddars,” cultivated from generations of family history in the chee[...]

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Of Caves and Vineyards and the Power of Shared Family Stories

Everyone loves a good story. Ultimately a story’s power flows from how it tells us about who we are, collectively as a human family. One of the most powerful experiences of working with family-owned enterprises is learning family stories. As human as our love of stories may be, practitioners servi[...]

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Family Mediation Is No Role For Family

Conflicts arise in every business setting. When they involve family members, there can be a very volatile set of emotions to handle. Sometimes the simple adages of “Father knows best” and “My mama said” are appropriate to resolve family conflicts, but these pithy phrases rarely are effective[...]

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The Value Of A Family Name: Reflecting on Kohler and Nicklaus

“All things wear a lustre which is the gift of the present, and a tarnish of time. Every book is a quotation; and every house is a quotation out of all forests and mines and stone-quarries; and every man is a quotation from all his ancestors.” - Ralph Waldo Emerson Golf season in Wisconsin may[...]

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From Basketball to Family Business: Are We Letting Children Fail?

In my last post I reflected on the opportunity to be a coach for my daughter’s grade school basketball team, and the insight it provided into the dynamics between parents and children in a family-owned business. The experience brought into focus my own experiences working for my father and the com[...]

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I’m Not Smarter Than A Fifth Grader: Lessons in Parent-Child Relationships

This past winter I had the wonderful opportunity to be a coach for my youngest daughter’s grade school basketball team. As the season got underway, it was clear we had a group of very eager players coming together to learn, have fun, and play the game with the intention of winning. I saw our role [...]

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Becoming Truly Innovative: A Family Value

For a firm to become truly innovative, Gary Hamel and Nancy Tennant suggest in their recent Harvard Business Review article all employees should be taught to think like innovators. In this view, explained in a previous blog, innovation is not the exclusive purview of a few creative geniuses, but st[...]

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Some Insights on Family-Owned Businesses (Video)

For this blog post I thought I would mix it up and share with you a video interview with me discussing common questions I hear from family business owners. In the video I offer my perspective on some of the major concerns I’ve encountered in my experience working with family-owned businesses. Thou[...]

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Competition and Cooperation: Balancing Family and Firm Models in Family Businesses

Families and business ownership can intersect in fascinatingly complex ways. How family and business leaders think about family dynamics and corporate objectives may influence decisions more than what they think about. In short, the mental model of this crucial intersection matters. Research around [...]

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