Welcome to the Family Ties^® e-letter brought to you by Pervin Family Business Advisors Inc.

The Accidental Partnership^® is an interactive and often challenging relationship that thrives on accountability. In this issue, different partnership situations are discussed and the media section offers an abundance of links to current literature. In upcoming issues, the business family topics will address beneficial aspects of governance, leadership, organization, planning and relationships, to offer a few ideas.

Next month, I will be Chairing the conference, Retaining the Family Business Client, in Toronto. If you plan to attend, mention my name and receive a 20% discount.

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!

Wise and pragmatic habits of successful business families...

Habit #3.
Construct unifying governance and organizational processes, systems and structures to integrate family, assets and environment.

For your reading pleasure...

Inactive Partners
Those on the outside of the business do not wish to be left in the dark while those working in the business seldom enjoy backseat observers who may or may not have sufficient knowledge to be helpful. Addressing and balancing these concerns are critical elements of leadership.  – Read More

Preserving your Sibling Connection: Set Up Rules to Resolve Sibling Conflicts
Siblings can have the most volatile and complex family relationships – and the issues become magnified in a business.  – Read More

Thoughts of the day...

The business family needs family owners and employees in the business who have the requisite skills to lead the firm and the ability to foster satisfying family relationships.  – Aron Pervin

The central issue is never strategy, structure, culture, or systems. The core of the matter is always about changing the behaviour of people.  – John Kotter, Professor, Harvard Business School

In the media / Additional resources...

Family Business: Why Firms Do Well When Founders Are at the Helm
Despite the lack of independent directors on their boards and voting power for minority shareholders, family-run companies are still the better bet for all stakeholders as long as the founder of the firm is involved as chief executive officer or chairman. If the descendent of a founder runs the company, value is lost.  – Read More

For three months starting in December 2004, Worth Magazine ran a series of cover stories under the banner of "100 year vision for family business". Several of my FFI colleagues wrote for this series.

• Wrestling for Control of the Family Business: The first and second generations
• Divided We Fall: Keeping the family business intact into the third generation
• Fractured Finances: How families rebuild and reinvent their shattered businesses

Did you know...

Our website contains a library with a wealth of information and articles. You can send our articles to a friend, family member or colleague, quickly and easily.

Visit the Library