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Sharing Family Business Knowledge Around the World  
 
April 2010
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Family Business:  From Genesis to Revelation (the abridged version)
Larry Hause
In this blog, Larry Hause uses a divinely inspired metaphor to show how family business founders can avoid an "apocalypse" in the second generation.  He also shows how the "three-circle model" can be reassembled to illustrate family business best practices. 
Familiness
Daniel Lorenzo
In this article from the Family Business Wiki encyclopedia (written in Spanish by Daniel Lorenzo, and translated into English),  "familiness" is
described as the unique set of resources of a family business which arise from the interactions between the family system as a whole, the individual family members, and the business itself. The concept of familiness can provide a framework for identifying the competitive advantages of a family business.
What I'm Reading 
Deb Houden
Deb Houden writes that Kids, Wealth and Consequences:  Ensuring 
a Responsible Financial Future for the Next Generation
 provides useful self-assessment questionnaires which can guide parents (and their advisors) in their approach to helping children to grow up responsibly in the context of family wealth. 
Greetings!

Yes, we've got another great newsletter for you this month... but wait until you hear about our upcoming issues:
 
May: We've been searching the globe to find ten great recipients for Family Business Wiki's 2010 "10 Under 40 Award".   Nominations have come in from Asia, Europe and the Americas.  Awardees will be announced in our special May edition.
 
June:  Carmen Bianchi -- globe trotting family business professional and one of the founding board members of Family Business Wiki -- will be featured in June's Thought Leader Blog.
 
July-August:  This is going to be a "muy buena edici�n especial" -- written entirely by Spanish speaking bloggers (and translated into English).   Ivan Lansberg will be writing the Thought Leader Blog.
 
September:  A special edition on family wealth and family offices.
 
With this bounty of content, all we can say is a grateful "thank you!" to our extraordinary bloggers from around the world -- and to our extraordinary readers from around the world.
 
We hope that you will continue to join us in "sharing family business knowledge around the world."
Thought Leader Blog:  Jane Hilburt-Davis
Don't Try This Without a Professional!
 Jane Hilburt-Davis
Family council meetings can do more harm than good if they are filled with bickering, or used to rehash old injuries, or used for grandstanding by a family member.  Even the most functional families usually need help when first starting a family council.  The right professional must have the experience and skills to help create an effective work team out of the family.  Here are some tips:  
  • Establish a conflict management/agreement process
  • Establish and agree upon ground rules
  • Agree on agenda and goals
  • Establish an environment of open and effective communications
  • Allow time for debriefing.
 (Read more from Jane Hilburt-Davis and add comments.)
FB Wiki TV:  Joe Astrachan and Debbe Skutch 
The Relationship Between Family Unity and Business Success
 
Lawrence BarnsJoe AstrachanJoe Astrachan, interviewed by Debbe Skutch, discusses the positive influence which family unity has on business success.   Joe suggests that family unity can create a "virtuous cycle" -- leading to business success which in turn leads to greater family unity.
 
Family unity can be enhanced through activities in four arenas:  the family emotional level (e.g., family gatherings); the family financial level (e.g., a fund for family education); the business financial level (e.g., dividends); and the business emotional level (e.g., business legacy).   (Click here to see the video.  Run time 3:11).
Succession:  Michael Madera
Beyond the Crystal Ball:  Making Good Decisions About Succession and Selection in Family Businesses 
  
Michael Madera"Who is the right person for this key role?"
 
There are many issues and influences at play when a family business needs to answer this question and many pitfalls to avoid. In this blog post, I want to introduce some approaches I have found that help take the guesswork and fuzziness out of this process, and invite your comments and dialogue.
 
One very effective way to remove the influence of biases is this:  Start with the reality of the business.  Get clear about the big picture and work backwards from the strategic intentions and objectives that have been established (or need to be!) and then ask a set of questions:
  • "What specific business outcomes do we need to see?"
  • "What are the barriers and opportunities for achieving these?
  • "What specific behaviors and approaches have we seen (or can we envision) that will be likely to achieve the outcomes?"
 (Read more from Michael Madera and add comments.) 
Social Media:  Karen Hopper
Build Your Brand, Expand Your Reach 
 
Karen Hopper
Social media is here to stay and your customers are looking for answers to their problems on Twitter, LinkedIn and Facebook. How can these social media sites help build your brand and expand your reach? Savvy businesses recognize that there is a conversation taking place here, and if they are not participating in that conversation, they are losing the battle and the war for their customer.  
 
With so many choices of social media platforms, knowing a little about each one can help you choose the most strategic one for your company and industry.  There is a learning curve with each of these platforms, which can be time consuming, but if you ignore social media, it may be a critical mistake for your business.  (Read more from Karen Hopper and add comments.)
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