Your Family, Inc.: The Challenges of Working with those You Love
During a tough economy, family businesses have an edge –especially because those who run the company are motivated in unique ways by those they love. This workshop will offer practical tips for capitalizing on family commitment to an enterprise. When family members share a common heritage and a common dream for the future, they can make decisions more quickly, work longer and harder to overcome obstacles, and celebrate their victories together. During the past 10-15 years, best practices for successful family firms have become more clear. We will discuss significant insights that may answer questions such as:
- Which decisions belong within the circle of the family, which belong to ownership, and which belong to business management?
- What kind for leadership will be required to take our company to the next level? How will we prepare the next generation to meet the challenges of a rapidly changing marketplace?
- What skills do we need to learn so we can communicate across generations and build strong teams, especially among siblings and cousins? How can we manage conflict effectively? Build consensus?
- How do we develop a Family Strategic Plan that will complement our business plan, so family members can participate in the growth of the business most effectively?
- Which legal requirements will best protect our business so it can continue to prosper over many generations?
- What plans are in place to minimize transfer tax?
Greenebaum Doll & McDonald
3500 National City Tower
101 South Fifth Street
Louisville, Kentucky 40202