According to Forbes Magazine, less than one third of family businesses survive the transition from first to second generation ownership. Another 50% do not survive the transition from second to third generation. That means only 12% of family owned businesses make it to the third generation.
Latest "Managers" Posts
Last week, I was talking to a business owner who said that hiring the right people continues to be one of his greatest challenges. In my experience, most businesses wait too long to fill a vacancy, then hire too quickly. … Continue reading
In many of my seminars I speak about the importance of using power to get things done. But first let me say, all power is good, yet power can be bad. It is the utility of power that makes it … Continue reading
The Dalai Lama commented that what surprises him the most is: So many people sacrifice their health in order to gain money. Then later in life sacrifice their money to regain their health.
Recently, Barbara Mayhew commented in a blog about the P.E.I. WCB ruling that awarded benefits to a widow after her husband’s death was linked to workplace bullying and harassment.
I popped into Anna’s Country Kitchen in Crapaud, Prince Edward Island which is one of my favorite eating places, for lunch this past week.
I know I have discussed this in earlier blog postings, but now I see evidence that more and more companies are abolishing the Annual Performance Evaluation (APE).
I am sure many of you have been noticing that PEI is now catching up with the rest of the world and installing more traffic circles or “roundabouts.” I highly commend this move. These efficient, traffic movers have been used … Continue reading
Being an entrepreneur is not the glamorous life some people believe it is. Many people only see the end result of someone who has paid the price and made it. They are not aware of the stress, the risk, the … Continue reading
Years ago I asked a young relative what he wanted to do after he completed his education. His response was: “I want to own my own business”. “That’s great,” I said. “But why?”
At a morning business meeting with my colleague Mike Cassidy, we were reminiscing about how hard it is to find time to connect. We discussed how the latest technologies are causing many of us to work seven days a week. … Continue reading
After reading my last article, my niece Belinda Campbell Roth remarked: “Conflict is a result of the most important diversity – diversity of thought. Without diversity of thought, creativity is stifled. When we realize conflict isn’t innately negative, and we … Continue reading
This past week I had breakfast with my friend, Charles Stout – a retired executive from Allstate Insurance, at a restaurant called “Egg N’ Joe” in Scottsdale, Arizona. Two servers approached our table and one said, “Hi, my name is … Continue reading
In response to my post a few weeks ago, several readers wanted to know how to make a mentoring relationship work more effectively, especially since we all have different communication styles, conflicting value systems, different priorities, and diverse personalities.
A coach or mentor who encourages you, and sincerely wants you to do your best, is the best asset any manager can have. I found that out the hard way many years ago. As a new manager at a Fortune … Continue reading