The world has gone through seismic change since the current generation of family business leaders first joined their family firms. Today’s next gens are educated, ambitious, globally minded and socially engaged. Given that they may pursue different paths in the future—whether as stewards, transformers, intrapreneurs or entrepreneurs—to follow their passion and make their mark in the world, the current generation must prepare, equip and support the next gen to be successful.
Operating Businesses
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Increasingly, companies of all stripes are being stressed to manage their reputations in a world that is always on, more social, and more contentious than ever. The problems faced can be even more challenging for family-owned businesses. Family members and businesses are increasingly asked to take stands on social concerns and political issues by the media, community leaders, and employees. Meanwhile, family members’ personal preferences and actions are exposed on the worldwide stage for public scrutiny, placing family reputations on the line.
Learn how non-family business executives can lead discussions on succession and why you may want to facilitate this process. In this session, Charlie and Jonathan will share data and case studies from successful (and unsuccessful) successions at leading family enterprises and engage in a group discussion to help answer the following questions:
In Skin in the Game, a proposed TV show with a format similar to Shark Tank, the audience effectively runs the game, deciding which businesses get funded. Audience members also have the option to invest their own capital in the Skin in the Game fund. More than fun and games, it was designed with projections for job creation and economic development in mind, and the success of these crowd-funded deals will be published and discussed on each show.
SEMINAR 1: Preparing the Individual, the Family, and the Family Business for the Future
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Successful business-owning families know that a set of timely decisions is required to continually prepare and grow the family-operating companies. For the long-term success of the family, timely and thoughtful exploration of future planning for self and family is also required, but often overlooked. This session presents ideas and best practices for strategically planning for the lasting success of individuals, family, and business, while recognizing the complex intertwining of the three.You can view each part of the seminar below:
SEMINAR 3: Building Trust in the Family Owner Group: Clarifying Roles and Aligning on Goals
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Family businesses transitioning from the owner-manager stage to a larger and more diverse family ownership group often lack the practices necessary to assure owner alignment and avoid conflict. Many times, owner groups are perched on the lip of what we call the “conflict spiral,” ready to descend into fractured communication and hostile relationships. Our presenters have found that the “four-room model” provides a clear and practical perspective on how governance and decision-making can evolve in successful family enterprises.
FOX’s 2017 study on The Shifting Talent Paradigm: How Advisors Are Redesigning Their Talent Strategy can serve as a great resource for those seeking insights on what is changing the advisor labor market and how they can shape the best talent strategy for their firm. This report is organized into four sections:
The GDPR and The Bottom Line
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For American companies who do business in Europe or who process the personal data of EU residents, the world of data privacy and security is about to get much more complicated. While U.S. privacy law is unsettled, with rapidly proliferating state and federal laws and regulations and uncertainty as to how strictly they will be enforced, the rules in the European Union are tough and about to get much tougher.
Cyber Hunting: The Next Step in Network Protection
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Vulnerability assessments and penetration testing may uncover areas where hackers can break in, but what if they are already there?
10 Steps to Create a Robust IT Security Program
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In the last few years, hackers and cyber criminals have become much more sophisticated in how they steal private information, which has led to massive data breaches. These data breaches not only cost an organization hundreds of thousands of dollars in fixes and possible fines, they can ruin a long-established reputation in a matter of hours. Putting in place a robust IT security program will help protect the personal information you maintain from being stolen and misused.