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Welcome to the Family Ties© e-letter brought to you by Pervin Family Business Advisors Inc.
If you missed the newsletter, here it is, finally. It's a lot of work and, YES, the last edition was January/February 2008. Going forward, I plan to publish it only four times per year, although some people are requesting that I start a blog ... and join LinkedIn ... I am furiously resisting and feeling like an antique.
The last ten months can be described best by the learning achieved by my client family members: a third generation member writes, "Hope all is well in your world, my father and I wanted you to know that we are extremely pleased with the hurdles we overcame as a result of our relationship with you." And a second generation writes, "Aron has been involved with our family for over 2 years and has provided decency, grace and knowledge to an otherwise overwhelmed family."
Recently, I was asked to participate as the voice for the North American consulting profession in a think tank retreat hosted by the Business Families Foundation that looked at family firms and their needs in the year 2028. I became a member of the STEP Business Families steering committee and wrote a chapter [with Malcolm Burrows] for the upcoming Practitioner's Guide on the topic of private foundations and family philanthropy. And, I continue my role as a mentor to a few participants in the FFI Certificate program.
My research and work continues to focus on how business family members regulate their emotions, perform and feel worthy, deal with belonging, rejection, self control, trust, irrationality and self destructive behaviours, organize their thoughts, and choose and maintain new habits, including the stress related to choice and change – and examines the productive and destructive impact on the family, business, board and/or foundation. In addition, I have been experimenting with more intuitive models of decision-making, including the influence of cognitive dissonance and pragmatic ways to provide beneficial feedback without judgement or criticism. Otherwise, I continue to thrive dealing with the ongoing work challenges of problem-solving in complex and ambiguous situations.
In upcoming issues, the business family topics will address beneficial aspects of governance, leadership, organization, planning and relationships, to offer a few ideas. If you have a question, a great idea for inclusion in this e-letter, or if you just have some comments you would like to share with us, we want to hear from you!
Articles of Interest...
MEET THE SULTANS OF STYLE
Fortune's second annual Luxury Portfolio features the moguls, merchants and master craftsmen who are defining the business of luxury.
THE SUCCESS GENE
Why some family businesses thrive year after year after year.
EMOTIONALLY-OWNED BUSINESSES
The study by the Institute for Family Business, "Emotional Ownership - The Critical Pathway Between the Next Generation and the Family Firm", reports that fostering emotional ownership at an early age gives family members a sense of identification and attachment to the family business.
ESTATES: DIVVYING UP THE SILVER
Several years before Jeannie Stevens' parents passed away, they invited their three children to an unusual Thanksgiving gathering. The engraved invitation informed the heirs of their right to divvy up more than $1 million of "worldly belongings".
BREAKING THE SILENCE
The shifting nature of wealth and inheritance has families talking about values as well as money.
I'M NOT ROCKEFELLER [PDF]
33 high net worth philanthropists discuss their approach to giving.
THE SOURCE OF COMPETITIVE ADVANTAGE IN A FAMILY BUSINESS IS THE FAMILY
When family businesses expand overseas, they do well to capitalise on their unique core values and cultures. But these inherent strengths should be tempered to fit into the new environments, advised Sanjay Goel, strategic management and entrepreneurship professor, Labovitz School of Business and Economics, University of Minnesota Duluth.
MAKING THE TRANSITION FROM MICROMANAGER TO LEADER [PDF]
Our research on micromanagement, perfectionism and leadership reveals that 30 to 35% of executives succeed as managers but stumble when they find themselves in higher-level positions that require leadership and they respond with management.
TO WIN THE RESPECT OF FOLLOWERS, LEADERS NEED PERSONALITY INTELLIGENCE
Understanding personality has become essential for leaders of the complex, knowledge-based companies operating in the global marketplace.
HOW TO ASSEMBLE A BOARD OF ADVISORS [PDF]
An advisory board is a rare species in the small-business ecology, yet assembling such a board may be one of the most important steps a CEO can take to assure an enterprise's success.
LEADING FROM THE BOARDROOM
Directors can reclaim their agendas and refocus on the work of leadership. Here's how.
A FIRST IN QUEBEC: A STUDY ON BOARD MEMBER COMPENSATION
Board members of medium-sized and large companies in Quebec receive annual compensation of nearly $60,000, according to a recent study conducted by the Institute for Governance of Private and Public Organizations (IGOPP) and Spencer Stuart.
INSTITUTE FOR GOVERNANCE OF PRIVATE AND PUBLIC ORGANIZATIONS [PDF]
Report of the Working Group on small and medium-sized businesses governance - "Building Better Business".
PITFALLS OF PERFECTIONISM
Perfectionism may be the ultimate self-defeating behavior. It turns people into slaves of success—but keeps them focused on failure, dooming them to a lifetime of doubt and depression. It also winds up undermining achievement in the modern world.
COOL, DETERMINED & UNDER 30
They are running businesses in fields as diverse as Wi-Fi and fashion, blogging and music. Combined, they manage nearly 600 employees and have raised more than $100 million from investors. They are collaborative, creative, and -- above all -- confident. And here's one more fact: All of them were born after October 31, 1978.
Families in the News...
TED ROGERS 75
He was this country's version of Steve Jobs, a technology entrepreneur who was down but never out, who unabashedly loved gadgetry, who had a huge, resilient ego, who made life hell for his executives but could evoke great loyalty–and who triumphed over naysayers to become the second wealthiest Canadian with a personal net worth estimated at more than $7-billion.
CENTURIES-OLD FAMILY BUSINESSES SHARE THEIR SECRET
Other enterprises can benefit by borrowing strategies from these companies that have prospered generation after generation [And look at related items as well]
HOW WE DID IT - CRANE & CO.
200 years of happy customers, from Paul Revere to the Saudi government.
W100: LEADERSHIP SUCCESSION - SURPRISE! YOU'RE IN CHARGE NOW
In Teresa Spinelli's traditional Italian family, there was no doubt that her brother Pietro would take over the business when her dad moved on. Then, in 1996, Pietro died at the age of 32.
Interesting, Informative and Fun...
- Campden FB and Family Office magazine. Here's a sample survey [PDF] from Campden FB, which I put on my web site, as an example for why you should sign up for their e-Newsletter, there's lots more.
- Mind Matters
- Family Business Magazine e-Newsletter
- The Henokiens: the Association of Family and Bicentenary Companies
- Family Giving News has great and insightful philanthropy information, especially the National Symposium information.
- The Ultimate Gift, when his wealthy grandfather dies, ...
- Slideshow: The 9 Most Humorous Websites - Comedy Web video sites may be taking off, but traditional humor sites are where they got their start. Here are 9 of the most hysterical sites on the Web.
Did you know...
Our web site is chock full of interesting and compelling articles for the family business. You can send our articles to a friend, family member or colleague, quickly and easily.
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