Family businesses are built on strong values, deep-rooted traditions and long-term thinking. But history has shown that legacy alone isn’t enough to ensure survival. Businesses that fail to adapt to change risk stagnation — or worse, obsolescence. We’ve all heard stories of once-thriving companies that refused to evolve, only to be overtaken by shifting markets, […]
The Future is a Family Affair Read More »
Let’s cut right to the chase: When was the last time you truly stopped? Not just stopped working, but stopped thinking about the market, the payroll, or the next family board meeting? In the world of a family business, “busy” is a badge of honor. You’re constantly moving, making decisions, balancing legacy against profit. Taking
Trust is a powerful and delicate thing. Like much of what we rely on in our family business relationships, trust offers us a paradox of sorts that can be difficult to navigate. In our most recent NextGen Leaders Group at the Conway Center for Family Business, we explored how trust is built, how it grows,
Maintaining Trust in the Family Business – Next Gen Leaders Read More »
The following story is from Simon Sinek’s book Start With Why (Portfolio, 2009): “On a cold January day, a forty-three-year-old man was sworn in as the chief executive of his country. By his side stood his predecessor, a famous general who, fifteen years earlier, had command the nation’s armed forces in a war that resulted
Getting Clear on our Mission, Vision, and Values – Next Gen Leaders Read More »
Flying Horse Farms is a non-profit that provides camper experiences year-round for kids with serious illnesses and their families that was first opened in 2010 and hosts around 900 children and families every year. It is also a Service Provider for Conway Center for Family Business. We met with Sara McCain with Flying Horse Farms
Q&A With Flying Horse Farms Read More »
Meet Blue Sky Business Valuation. Elizabeth Petrie and Courtney Sparks White founded the valuation company in 2017. Blue Sky Business Valuation has been a Service Provider Member of the Conway Center for Family Business for over three years. We sat down with Courtney Sparks White to discuss the business and their involvement with the Conway
Q&A With Blue Sky Business Valuation Read More »
Developing a family business charter helps individuals with differing points of view learn to work together in the spirit of collaboration toward a greater good — the health of the family and the business. Designed specifically for families in business together, a family business charter documents the shared understanding between the owner/founder and family members
What is a Family Business Charter and What Should it Include? Read More »
Set your organization up for long-term success using 10 key economic indicators to track and inform your decisions.
Data to Decode: The Economics of Being a Business Owner Read More »
There is some exciting news, especially for smaller plan sponsors of defined contribution plans. The Department of Labor (DOL) has revised the Form 5500 and instructions for 2023, bringing about a substantial change in the criteria used to determine the requirement for an audit. Updates to Participant Count Methodology Employee benefit plans that filed as a large
Audit Requirements for Defined Contribution Plans are Changing Read More »
Since the COVID-19 pandemic, there’s been an enormous uptick in the number of cyberattacks and the amount of damage they cause. This damage, which has disproportionately affected small and mid-sized businesses is now a top-of-mind concern for any organization that values its long-term stability and profitability. While there’s been a lot of advice out on the
5 Steps to Take When A Cyberattack Strikes Read More »
