Family Business Governance

Family leaders trust each other. Executives know the business inside and out. But neither group is built to challenge blind spots or bring in outside experience. That’s what an advisory board is for, if you put the right people in the room. Here are 8 questions to ask before you do.

Most advice on governance assumes more is better, but overbuilding it can be just as costly as neglecting it. The right amount depends entirely on where your business sits in its lifecycle. Here’s how to know when to add structure, and when to hold off.

It looked like a strategy problem. But the real issue was governance, how they made decisions. Here’s how fixing that saved both the business and the relationship.

Owners often fear that hiring an outside CEO means handing over control. But that worry rests on a misconception about where power really resides.

Leading a family business means balancing the needs of the organization with the vision of the family. We break down the four types of meetings—board, shareholder, family council, and special—and how each one keeps your business and family aligned.

Governance makes most family business owners’ eyes glaze over, it sounds like bureaucracy. But it’s really about clarity. The simplest way I’ve found to explain it is in terms of four rooms: a family room, an owner room, a board room, and a management room. The right people, in the right room, making the right decisions.

After 25 years climbing the corporate ladder, I got to the top, and realized there was more ladder. Here are the lessons that changed how I think about family business, leadership, and legacy.

Most family business owners hear “governance” and picture bureaucracy. Rob Ferguson and Brandi Marek break down what it actually looks like, and why it protects your culture more than it threatens it.