Transition / Succession

BLOG | FAMILY DYNAMICS / GOVERNANCE

What’s love (power & money) got to do with family business? EVERYTHING.

When I began my career in family business consulting nearly 20 years ago, I met Dean Fowler, one of the early thought leaders in the field of family business and author of several books, most notably Love, Power and Money. As it turns out, these 3 words line up perfectly with the famed 3-circle model developed by Davis and Tagiuri of the Harvard Business School in 1978,  depicting the family business system - the intersecting circles of family, business, and ownership...

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Maximizing Value to Always Be For Sale

When I started Compass Point nearly 20 years ago, I heard a quote from business owner (and my now mentor) Tom Stine, “The only reason to get into business is to get out.” I remember thinking at the time, “That’s a bit cold. Sounds like consultant talk.” But 20 years later, I can honestly say that truer words have never been spoken.

BLOG | STRATEGY

Don’t Lose the House

Why did I leave a comfortable position in higher education to help family businesses grow, thrive, and create legacies? Here’s a little look behind the curtain. I grew up in family business...

BLOG | FAMILY DYNAMICS / GOVERNANCE

Do You Have an EMP? It’s Time to Make One.

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What is Your Lifestyle Number?

More often than not, when I ask business owners what their lifestyle number is I hear either “I don’t know” or “I THINK I need (X)”...

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The 8 Family Business Transition Options – Which Will You Choose?

According to a survey conducted by the Exit Planning Institute, a staggering 75% of privately-held business owners regret selling or transitioning out of their business within 12 months of the transaction. How is it possible that owners are so disappointed just one year after what should be the happiest day of their life? There is a disconnect between their head and their heart.