Feb 23 E-Connect Daily

February 23, 2021

Where the Heart Is
Understanding the ins and outs of family businesses

You can’t choose your family, but how does that impact the family business? Family conflict and different ideas and leadership styles all play a role. Understanding the ins and outs is crucial in how you approach them as a client. Dr. Josh Baron and Rob Lachenauer share the unique challenges of working with family businesses in their new book, “The Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise.” In addition to being co-authors, they are also co-founders and partners at the leading family business advising firm BanyanGlobal. The firm has advised over 200 business families in 20 countries since its founding in 2012, and was named the Family Business Advisory Practice of the Year by the Society of Trust and Estate Professionals in 2019 and 2020. We asked both for the behind-the-scenes take on family businesses.

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“Thrivers through the pandemic will maintain focus on what’s important and what they can do well in the current environment. This is a good time to be laser-focused on identifying, or re-evaluating, your three to five priorities for the year and making progress toward those goals.”

– Michael Lee Stallard, president and co-founder of Connection Culture Group, on focusing on what matters

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