The Ultimate Guide to Family Business Prosperity
Grow your family business. Overcome challenges. Exit when ready.
This guide contains all our best thinking on family business prosperity.
Click the links to jump to a specific section or use the search below to find what you're looking for.
Or book a call with one of our advisors to answer your question directly! We'd love to speak with you!
Table of Contents
The One Decision and Six Fundamentals You Need to Build a Prosperous, Long-Lived Family Business
What separates family businesses that last from those that fade? It starts with one choice—family-first or business-first—and six fundamentals that drive long-term success: governance, people, strategy, operations, finance, and growth.
Family Business Longevity – Money Advantage Podcast Interview
In my recent discussion on the Money Advantage podcast, we explored the complexities and strategies for extending the lifespan of family businesses.
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6 Ideas for Extending the Lifespan of Your Family Business
Organizational longevity is usually a pretty good measure of success in the business world. It speaks of resilience, adaptability – and the ability to weather storms in an ever-changing economic landscape.
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9 Keys to a Sustainable and Prosperous Family Business
Achieve sustainable prosperity for your family business by implementing these 9 key steps. Build a business that prospers for generations.
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The Generational Shift in Family Businesses
We’re seeing an emerging trend where family business owners are taking a business-first approach to build larger and stronger businesses.
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7 Signs You’re Stuck in the Family Business Owner’s Trap
Do you ever feel trapped by your business? You might be stuck in something we call the Family Business Owner’s Trap. Here are 7 signs or symptoms. How many of them apply to you?
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5 Keys to a Healthy Family Business
A healthy family business requires a balance between work and life. Family businesses can create a strong foundation for success and avoid common pitfalls by focusing on these five essential elements.
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Key Insights for Growing Your Family Business
Pursuing growth is both a necessity and a challenge. Reflecting on our collective experiences and research, we've distilled some key takeaways that we believe are crucial for navigating the complexities of family business growth. Here they are...
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The Prosperous Family Business
What does it mean to have a prosperous family business? What are the barriers to prosperity? Where can you turn for help?
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Rob and Brandi interview on NY Business Leaders: family business growth and prosperity
Family businesses and corporate businesses are pretty much the same and have the same problems. The difference: in a family business, you go to Thanksgiving dinner with your shareholders and employees.
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The Family Business Lifecycle
Just like a tree, every organization has a natural and predictable lifecycle. When you know where your company is in its lifecycle, you can make predictions about the problems you’ll face and how best to deal with them.
Developing a Shared Vision
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3 Keys to Creating Alignment in your Family Business
Having a brilliant vision and strategy doesn't make a difference if you can't get your leaders and employees to embrace that purpose and vision – and align their actions towards it. Here's how to do that.
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Gaining Alignment Through Purpose, Vision, and Mission
Want your team rowing in the same direction? The very first step toward achieving alignment is to define your purpose, vision, and mission. Here's how...
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Why your family business needs a shared vision
Your Shared Vision inspires others why the company exists, what its goals and priorities are, and what its legacy is going to be. Want alignment? You need a shared vision!
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Do you have a family-first business or a business-first family?
The question is simple, but the impact of the decision is far-reaching. Here are 7 signs that indicate you have a family-first business
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7 Signs that Point to Lack of Alignment in Your Family Business
Alignment is the key to a thriving business, but as your company grows, keeping everyone moving in the same direction gets harder. From poor decision-making to workplace drama, misalignment leads to dysfunction. Here are 7 signs your business may be off track.
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Business Impact: Discovering It and Living It
Your Impact (or purpose) can be an organizational strategy and a roadmap to remain competitive in the marketplace. Here are 3 examples of of well-known companies who use their Impact to guide them.
Creating a Culture of Excellence
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Healthy Conflict vs. Unhealthy Conflict in Family Business
Conflict in family business is inevitable. The key is knowing the difference between healthy conflict, which drives problem-solving, and unhealthy conflict, which damages trust.
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Signs of a Family Business Culture in Decline
Prosperous businesses have strong cultures. You can feel the positive energy and vibe. Here's how to spot signs of business culture decline from 3 perspectives.
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Avoiding conflict? Here’s how to stop.
In family businesses, conflict can often feel more personal and uncomfortable due to the close relationships involved. Discover why we avoid conflict, its costs, and practical advice for handling disputes effectively.
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Managing Project Conflict in Your Family Business
Conflict is inevitable in any project, but it doesn’t have to derail progress. Learn how to identify signs of unhealthy conflict and manage it effectively to keep your team focused and productive. Discover practical tips for encouraging constructive discussions and when to involve outside help for resolution.
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The Truth About Conflict in a Family Business
Every family business experiences conflict. It’s important to coach your team to engage in healthy conflict, communicate effectively, and move forward.
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How to Create a Family Business Culture Where People Thrive
In a tight labor market, your culture can be a competitive advantage and one of the most important factors in determining your success. Here are 3 strategies for creating a family business culture where people thrive.
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Family business culture: our best advice for attracting, retaining, and motivating your workforce in 2023
Want to attract, retain, and maintain your workforce in 2023? We advise that you orient yourself around these 5 trends.
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How to create a culture of accountability
Many of the company leaders we work with want to increase the level of accountability and trust in their organizations. Here's how to do that
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Building Culture with Remote Teams
More and more employees want the flexibility of remote work. Smart leaders see this as an opportunity to attract great workers. Your culture is what makes it work
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Building a Process-Oriented Culture in Your Family Business
A process-oriented culture brings clarity, consistency, and continuous improvement to your family business. In this post, we explore the benefits of intentional systems, how to recognize when they're missing, and how to start building a stronger culture today.
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How to Create a Culture of Excellence in Your Family Business
Optimizing your culture elevates your ability to attract and retain employees, attract new customers, develop brand recognition, and maintain your customer loyalty. Here's how...
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5 Best Practice Strategies for Managing Conflict in Your Family Business
Conflicts in family businesses often go beyond typical business challenges, involving personal relationships and emotions. Addressing these conflicts head-on with strategies like clear communication, sound governance, and external guidance can strengthen your business and family relationships. Learn five best practices to manage conflict effectively and build a foundation for long-term success.
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3 Strategies for Making Your Family Business a “Best Place to Work”
You’ve probably seen a lot of companies promote their status as a “best place to work.” And while the description might seem like publicity fluff, there’s actually some good business strategy behind it. So, how do you make your family business the best place to work? There are three key strategies we’ve learned from our years working with family businesses:
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Understanding the Importance of Culture in Family Businesses
Culture is a cornerstone of a thriving family business. Here’s what you need to know about the importance of culture in family business.
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How to avoid burnout in your family business
Burnout is an expensive problem. The good news is that burnout can be influenced and improved through your company leadership.
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3 Ps of building trust in your family business
Trust is the bedrock of a prosperous family business. Trust makes teamwork possible, enables innovation and increases speed. Here's how to build it
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When do you leave the family business?
What do you do when you’re ready to leave…and it’s the right decision for YOU…but it feels like everyone in the family is counting on you? An interview with Brandi Marek.
Strategy & Planning
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Leaving a Legacy, Not a Mess
Every owner exits someday. Rob Ferguson shares how to plan ahead so you leave a legacy— not a mess.
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Planning for 2026: Budgeting Strategies for Middle Managers
Planning for 2026 starts now. Discover key budgeting strategies for middle managers—from clarifying goals to involving your team—that will help you enter the new year with clarity, confidence, and a roadmap for success.
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The Emotional Work of Family Business Succession Planning
Succession planning goes far beyond finding a CEO or drafting documents. The real work is emotional—grappling with identity, legacy, and what it means to let go.
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Why Strategic Planning is Crucial for Your Family Business
Many family businesses mistake opportunistic growth for strategic planning, leading to misaligned efforts and missed opportunities. Discover the importance of a proactive, dynamic strategic plan that aligns your team, clarifies direction, and drives sustainable success. Embrace change, reduce bias, and ensure your business thrives for generations to come.
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Surviving Succession: Navigating the Transition of Family Businesses
Generational transitions within family businesses can be both challenging and rewarding. Here are some of our thoughts on how family businesses can not only survive – but also thrive – through succession planning.
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Strategy Making for the Family Business
Strategy becomes a guiding philosophy that helps you make wiser decisions at all levels of the organization, it encourages innovation and contributes to the resilience and success of the family business over many generations.
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What Family Business Owners can Learn from Toyota’s Succession
What can family business leaders learn from Toyota's succession? These 3 insights - including the importance of having a business-first family
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10 Steps to a Successful Succession
Follow our 10-step succession plan to pave the way for a successful transition, securing the future of the business and its legacy.
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Strategic Planning for Family Businesses: Using SWOT, PESTLE, and Ansoff
Develop a better strategic plan for your family business. Use these tools to uncover important factors that might otherwise be overlooked.
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Famous Strategic Failures (and What We Can Learn From Them)
In this article, we examine the strategic failures of three famous companies and pull out some lessons we can learn from their mistakes.
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5 principles for effective family business succession planning
Family business succession planning can challenging due to the overlap of business and family. Here are 5 principles to guide you.
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The One-Page Strategic Plan for Family Businesses
Strategic planning is key to family business longevity and prosperity. But plans don't have to be long and complicated. Here's how to fit your strategy on one page.
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What is Strategic Planning and Why is it Important for Family Businesses?
Strong strategic planning charts your course to achieve your purpose, mission, and goals - and positions your business for success well into the future.
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Tale of Two Family Businesses: What I’ve Learned About Governance, Leadership, and Legacy
What separates a functional family business from a dysfunctional one? In this recap of his Fearless Family Business podcast interview, Rob Ferguson shares lessons from both extremes—along with practical insights on leadership, governance, and succession planning.
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Financial Considerations in Family Business Succession Planning
Succession planning is a crucial phase for any business – but especially for family-owned enterprises, where the transition from one generation to the next can significantly impact financial stability. Let’s delve into some key financial considerations that business owners should address when planning for succession.
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Engaging Your Team in the Family Business Succession Process
Succession planning and the smooth transition of leadership are necessary for any prosperous family business over the long term. Here are some of our best tips for approaching succession planning in a way that’s engaging and productive for your team:
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Annual Planning in Your Family Business: Practical Tips for Owners and Leaders
Annual planning is a strong habit that makes a real difference in meeting your business goals. Here are some tips for effective planning.
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8 Reasons Why Business Plans Are Crucial for Family Businesses
8 reasons why business plans are an important key to guiding the family business stakeholders toward their shared objectives.
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Planning: The GPS for Your Family Business Journey
30 minute planning presentation: 4 plans every family business needs, common mistakes, best practices, a strategic framework for alignment.
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The Family Business Priority Triad: a Strategy for Growth
There are 3 main priorities family business leaders can focus their strategy on: growth, control, and liquidity. Here is how the options play out.
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Why Ownership Transition Is Crucial For Family Business Longevity
Ownership transition is always a tricky issue, and that’s never more true than when dealing with a family business. Here are some tips that can help.
Leadership
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From Control to Empowerment: Making the Shift from Leading Followers to Leading Leaders
Want to scale your impact as a leader? Go beyond holding followers accountable and learn how to mentor and lead leaders - here's how.
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The Art of Leadership-ing: Leading with Clarity and Alignment
Great leaders are made, not born. They bring the future forward and inspire everyone around them to greatness through the actions of leadership-ing
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From Expert to Leader: Navigating Growth and Succession in Family Business
Growing a family business requires more than expertise—it takes leadership agility, clear values, and early succession planning. Rob Ferguson shares essential strategies for sustainable success in this insightful discussion.
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Choosing Your Path: Family-First Business or Business-First Family? Key Hire Podcast Interview
Choosing whether to be a family-first business or a business-first family is more than an operational choice—it's about setting the course for your legacy.
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Why Leadership Matters in Your Family Business
The quality of your leadership impacts everything in your family business. Here are some insights to help you develop better leadership in your company.
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Leading Your Team Through a Major Change in Your Family Business
Transitioning leadership? Implementing a new software platform? Introducing new products, or services? Here are some tips for leading through major changes.
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How to Lead Your Family Business Through the Dynamics of Change
The process of change can be uncomfortable for everyone involved. Everyone goes through four very predictable stages. Here's how to recognize and lead through each stage.
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5 Signs your Family Business is too Dependent on You
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of an organizational chart? Or are you stuck in the middle of your business like a hub in a bicycle wheel? When you’re positioned as a hub, everything needs to…
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Tale of Two Family Businesses: What I’ve Learned About Governance, Leadership, and Legacy
What separates a functional family business from a dysfunctional one? In this recap of his Fearless Family Business podcast interview, Rob Ferguson shares lessons from both extremes—along with practical insights on leadership, governance, and succession planning.
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Building Family Business Legacies: Insights from the Disruptive Successor Podcast
Key takeaways from a conversation on the Disruptive Successor Podcast about values-driven cultures, succession planning, and navigating challenges. Discover strategies to balance family dynamics, professionalize operations, and build a sustainable legacy.
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Navigating the Complex Landscape of Family Businesses
In a recent interview with John Golden from Sales POP, we discussed the vital role of family businesses in fueling the U.S. economy, from local establishments to Fortune 500 giants. These enterprises not only drive a substantial portion of our GDP but also face unique challenges that differentiate them from non-family businesses. From succession planning to integrating deep-seated family values into business operations, the dynamics of family businesses demand a tailored approach to governance and strategic planning.
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Family Business 101: Are You A Business First Family Or A Family First Business?
As the founder of Ferguson Alliance and someone who's transitioned from CEO to a business advisor, I've seen the inner workings of many family businesses. I recently had the pleasure of discussing these experiences on the "Strategy and Leadership Podcast."
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Transformational Leadership in Family Business: The Value of Marginal Change
Don’t let intimidation over making radical, revolutionary changes keep you from making small manageable ones. Use the power of marginal change to create transformation in your business.
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Become a Better Leader by Taking a Future Perspective to Problem Solving
Most leaders approach challenges by asking "How do I get this issue off my plate NOW? What can I do immediately?” Here's a more strategic approach.
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4 Approaches to Leadership Decision Making in a Family Business
One of the most important qualities of a good leader is the ability to make sound decisions. Here are 4 different approaches you can take along with the situations they are best suited to.
Managing Talent
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How to Retain Talent by Using the Power of Recognition
Recognition is absolutely essential for retaining talent and spurring productivity. Here's how to recognize your people in a meaningful way.
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Challenges of Hiring Friends and Family in Your Business
Bringing family or friends into your business can be rewarding but complex. From setting clear expectations to managing potential conflicts, there are crucial steps to ensure both your relationships and your business thrive. Here’s what you need to know.
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A Gameplan for Recruiting Sales Consultants for your Family Business
The first step in your hiring process should be to develop the job requirements and an ideal candidate profile. Here's how.
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Finding the Right CFO for Your Family Business: Essential Requirements and Interviewing Tips
A good CFO will act as a strategic advisor to the business owners, providing insights and recommendations to support the family's long-term goals. As one of the top two or three senior leaders in most businesses, it’s essential that you identify and hire the right person!
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Conducting Performance Reviews for Family Members
Conducting performance reviews on family members can be challenging. Here are our top three tips to make it easier to improve performance and maintain family harmony.
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How to build a world-class sales team
Sales is the lifeblood of any business. Here are 6 steps to building a great sales team for your organization.
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The Rainmaker’s Dilemma
Early in a company’s evolution, the founder's ability to "make it rain" is essential. Later on, it impedes the company's growth. Here's why
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Multi-Generational Staff Development in Family-Owned Businesses
An interview with Rob and Brandi on the "Pipeliners Podcast." Listen in to discover effective strategies for managing and developing staff in family-owned businesses.
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Building Better Teams: The Art of Effective Onboarding
Perhaps no business process is as undervalued and untapped as the onboarding of new team members. Here's how to do it right.
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Family Business Hiring Process: 12 Steps to Finding, Hiring, and Onboarding Top Talent
Reduce the disruption and expense of employee turnover by hiring the right people. Here's our hiring process based on best practices.
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How to Create a Family Business Culture Where People Thrive
In a tight labor market, your culture can be a competitive advantage and one of the most important factors in determining your success. Here are 3 strategies for creating a family business culture where people thrive.
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Managing talent in a family business: 7 challenges and 4 solutions
It’s challenging to find and retain employees. When you combine family + business, you get some unique challenges that non-family businesses don’t face.
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Grow your business by changing your role from rainmaker to architect
Taking on the role of architect is what allows you to grow your business while at the same time, increasing your personal freedom by reducing the business’s reliance on you.
Balancing Family & Business
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Embrace the Hard: A Lesson from the Field for Family Businesses
Former coach Price Ferguson shares a simple truth: the hard stuff is what makes it meaningful. In family business, challenges build resilience, teamwork, and growth. Don’t hope it’s easy—embrace the hard.
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The Family Business Balancing Act
In the world of family business, balance is the key to success. Here are 6 areas where family business leaders need to find balance.
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Managing Tough Conversations in Family Businesses: Lessons from Brandi Marek on the Lead Like a Woman Show
Tough conversations in family businesses can be challenging but are essential for growth and success. I share strategies drawn from my personal experiences in this interview on the Lead Like a Woman Show.
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Avoiding Burnout by Reclaiming Vacation Time
As a culture, we’ve lost our ability to relax, refresh, and disconnect. Is the answer to burnout as simple as taking our vacation time?
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How to Set Boundaries Between Family and Business
When you combine family with business, boundaries tend to blur. Here are 5 tips for preventing work from taking over your home life (and vice versa)
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Introducing the Prosperity Playbook: Real Conversations on Real Family Business Challenges
The Ferguson Alliance team discusses how family businesses can handle pay raises fairly—with clear policies, objectivity, and a business-first mindset.
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What I Learned from Transitioning Out of Our Family Business
After 15 years in my family’s business, I’ve lived the highs and lows of working with those you love. In this post, I share what I’ve learned about leadership, succession, and the real dynamics behind family-run companies—and why outside help made all the difference.
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Navigating the Complexities of Family Business: Manage 2 Win Podcast Interview
Running a family business comes with unique challenges, from succession planning to financial conflicts. Discover key strategies from the Prosperity Plan to navigate growth, leadership transitions, and long-term prosperity.
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What to do When You Feel Trapped in the Family Business
Feeling obligated to join or stay in the family business, even if it's not your passion or aligned with your career goals? Here's what to do.
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Resolving Family Business Arguments. How to Have Better Conversations When You Disagree.
When you combine business and family, even routine conversations can seem harder due to underlying feelings and family dynamics. How to have better conversations when you disagree.
Finance
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What’s the Difference Between Accounting and Finance?
Accounting records the past, while finance shapes the future. Learn why family businesses need both for sustainable growth and strategic decision-making.
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How to Simplify Financial Management for Non-Financial Business Owners
Join Tom Anderson as he breaks down complex financial concepts into manageable insights for business owners. Learn the essentials of financial management to improve cash flow and enhance your business's economic sustainability.
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Mastering Cost Control with Effective Management Reports
Effective management reports are key to mastering cost control and driving business success. Discover how these reports offer critical insights, improve decision-making, and enhance internal controls, empowering leaders to steer their businesses toward growth and profitability.
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Commercial Insurance Considerations for Family Businesses
The commercial insurance industry has long been a key resource for mitigating business risk – and family businesses have historically benefitted from third-party insurance support. You can’t rely on the same approach as last year with your commercial insurance program and expect it to be effective. You must be vigilant.
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Financial Fundamentals for Family Businesses: A Simple Guide
Financial capital is the lifeblood of every family enterprise, just like any other business. And to guarantee the progress and longevity of your family business, it is crucial to maintain healthy financial fundamentals over the longer period of time. Here's what you need to know.
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Solving Financial Challenges for Family Businesses
Leading a family business organization is a complex effort - don’t let anyone try to convince you it’s easy! Here are some of the most common financial challenges we see in family businesses – along with some potential solutions.
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Creating an Annual Profit Plan for Your Family Business
The key to a truly effective annual plan is tying it into your long-term strategic vision. Annual profit planning is a key tool in your toolbox for family business prosperity.
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Five Tips for Setting up a Family Business Line of Credit
Five essential steps for responsibly setting up a business line of credit to best serve your your family business needs.
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Finding the Right CFO for Your Family Business: Essential Requirements and Interviewing Tips
A good CFO will act as a strategic advisor to the business owners, providing insights and recommendations to support the family's long-term goals. As one of the top two or three senior leaders in most businesses, it’s essential that you identify and hire the right person!
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How to Use Management Reporting to Drive Greater Profitability & Shareholder Value
When you have a clear understanding of the company's financial health and the impact of management decisions, you can make informed decisions that lead to success.
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What if Finance and Accounting was a Profit Center? 5 Ways Your CFO Can Make You More Money.
Discover 5 ways finance and accounting can transcend their "cost center" label and become drivers of profitability.
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Building a Financial Team
In my recent appearance on the "Profit Answer Man" podcast with Rocky Lalvani, I shared insights from my extensive experience in guiding family businesses through economic challenges and strategic transitions. We explored how CFOs and CEOs can improve communication and strategic planning to enhance business value and sustainability.
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Understanding the Role of a Chief Financial Officer (CFO)
Discover the crucial role of a CFO in driving financial strategy and growth for businesses, including the benefits of fractional CFO services.
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Important Tax and Regulatory Updates for Family Businesses in 2024
Protect your family business by staying up-to-date on changing tax and regulatory requirements that affect your industry and your organization. 2024 brings several significant changes at both federal and state levels - here is a brief overview of what you need to know:
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Tax Implications for Family Businesses
When it comes to taxes, family businesses have unique considerations – and extra rules that quickly can become confusing and burdensome. Here's what you need to know.
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Family Business Financing Misconceptions: 7 Myths
Here are 7 of the most powerful financing myths we’ve encountered in our years as family business consultants...
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Five Tips for Finding the Right CPA Audit Firm for your Family Business
A good CPA firm will not only help you navigate the process, but also provide independent, objective feedback.
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Understanding Business Risks and How to Manage Them: A Guide for Family Businesses
Cross-functional risk management is a vital for any organization that wants to achieve its strategic objectives and avoid costly failures.
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Aligning Vision and Performance: Using a Balanced Performance Scorecard and Incentive Programs to Drive Results
Want better alignment? Consider an incentive program to encourage behaviors that drive long-term value for shareholders. Here's how to do that.
Governance
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What Family Businesses Can Learn from Non-Family Boards (and What They Shouldn’t)
Family businesses can learn valuable lessons from corporate boards, but not all apply. Rob Ferguson shares how to build a board that adds structure and strategy while staying true to your family’s values.
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Benefits of a Family Constitution
After the work of drafting and aligning, what does a family constitution actually achieve? In this article, we share five powerful benefits—plus a real-life case study that brings it all to life.
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Challenges in Implementing a Family Constitution
Creating a family constitution isn’t just a strategic move - it’s a personal one. In this article, we explore six common challenges families face in the process, from emotional resistance to fear of losing control. With the right approach, these challenges can become powerful opportunities for clarity, trust, and long-term alignment.
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Why Your Family Business Needs an Advisory Board
An advisory board is a group of outside experts who provide counsel and insight to help a family business make better, more objective decisions.
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Preparing for Family Business Succession Through Effective Governance and Meetings
Effective governance is essential for family businesses seeking to maintain alignment, support succession, and ensure long-term success. Discover key strategies, from defining roles to implementing structured meetings, to strengthen your business and family harmony.
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Advisory Boards: Essential Questions Family Business Owners Should Ask
Creating an advisory board can be a transformative step for family businesses aiming to increase their value and strengthen their legacy. But building an advisory board doesn’t have to be intimidating. With a few simple, thoughtful questions, you can assemble a group of advisors that will help guide your business in the right direction.
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How a Dividend Policy Helps Ensure Family Business Harmony
A clearly articulated dividend policy helps avoid turmoil, confusion, and misaligned expectations. Here's what you need to know about creating one...
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What is Family Business Governance? Busting Common Myths.
Good governance can help increase the value of your business, create family harmony, and give you more control, not less! Here's how...
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Finding the Right CFO for Your Family Business: Essential Requirements and Interviewing Tips
A good CFO will act as a strategic advisor to the business owners, providing insights and recommendations to support the family's long-term goals. As one of the top two or three senior leaders in most businesses, it’s essential that you identify and hire the right person!
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How to Use Management Reporting to Drive Greater Profitability & Shareholder Value
When you have a clear understanding of the company's financial health and the impact of management decisions, you can make informed decisions that lead to success.
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Tale of Two Family Businesses: What I’ve Learned About Governance, Leadership, and Legacy
What separates a functional family business from a dysfunctional one? In this recap of his Fearless Family Business podcast interview, Rob Ferguson shares lessons from both extremes—along with practical insights on leadership, governance, and succession planning.
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5 Steps to Create a Family Business Constitution
Creating a family constitution isn’t just about governance - it’s about connection. In this post, we walk through the five essential steps to build a document that fosters clarity, trust, and a legacy that lasts.
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What Is a Family Constitution?
A family constitution sets the foundation for how your business is governed - from decision-making to succession. In this article, we break down what it is, what goes into it, and how it can bring clarity, reduce conflict, and preserve your family legacy.
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Navigating the Complexities of Family Business: Manage 2 Win Podcast Interview
Running a family business comes with unique challenges, from succession planning to financial conflicts. Discover key strategies from the Prosperity Plan to navigate growth, leadership transitions, and long-term prosperity.
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The Crucial Question for Family Businesses: Family Needs or Business Priorities?
Family businesses face unique challenges, especially when balancing family dynamics with business success. In this podcast episode, Eric Anderton and Rob Ferguson discuss strategies for generational succession, leadership, and the critical choice between being a family-first business or a business-first family. Discover key insights to help your family business thrive across generations.
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Governing Your Family Business
Every family business, no matter its size or age, needs a system of governance that ensures its success, prosperity, and continuity from generation to generation.
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Family Business Governance: Differentiating Board, Shareholder, and Council Meetings
The 4 types of regular meetings you need to host to proactively avoid conflicts and misunderstandings with the family and the business.
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Does Your Family Business Need a Board of Directors?
Does your family business have a board of directors? Does it need one? Here's what you need to know about setting up a family business board.
Exit & Succession
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What I Learned from Transitioning Out of Our Family Business
After 15 years in my family’s business, I’ve lived the highs and lows of working with those you love. In this post, I share what I’ve learned about leadership, succession, and the real dynamics behind family-run companies—and why outside help made all the difference.
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How Family-Owned Businesses Can Prepare for a Smooth Succession or Exit
Succession in a family-owned business doesn’t have to be messy or uncertain. Learn how to prepare for a smooth transition with the right planning, systems, and support.
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10 Steps to a Successful Succession
Follow our 10-step succession plan to pave the way for a successful transition, securing the future of the business and its legacy.
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Why Ownership Transition Is Crucial For Family Business Longevity
Ownership transition is always a tricky issue, and that’s never more true than when dealing with a family business. Here are some tips that can help.
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What to do with your family business when you’re ready to retire?
Most business owners wait too long to answer this question. If you're still 5 or more years away from retirement, NOW is when you need to think about the following
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What’s your business worth?
We help our clients effectively set their business apart from the competition by providing a scientifically proven methodology for determining the value of your company that will help you to make your company more valuable, discover your company's hidden assets, and spot things that might be detrimental to the success of your business.
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Why Profit Isn’t Enough: The Importance of Building Business Value
Why shifting your growth focus from revenue to value will both lead to a stronger business and give you more options in the future.
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10 Options for Providing Financing to a Prospective Buyer of your Family Business
Owner financing might sound complex, but it's essentially a way for owners to sell their business while playing the role of the bank.
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Exit Planning Q&A with Rob Ferguson
Key takeaways and transcript from Rob's interview about family business succession planning on the Influential Entrepreneurs podcast.
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5 principles for effective family business succession planning
Family business succession planning can challenging due to the overlap of business and family. Here are 5 principles to guide you.
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14 questions to consider when thinking about selling your business
What information should I provide to prospective buyers? What is the current market value of my business? +12 more questions to consider
Getting Support
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12 Signs it’s Time to Hire a Family Business Advisory Firm
Family businesses are often entangled in a web of personal relationships and emotions. Here are 12 signs that indicate you may need external guidance and an outside perspective.
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6 Factors to Consider when Seeking Family Business Consulting Services
Smart family business leaders seek outside consultation when necessary. Here are 6 factors to consider when looking for business consulting services.
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Every Problem Has a Solution
Feeling stressed out, stuck, or hopeless about a business problem? This one’s for you
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The Truth About Executive Coaching
Executive coaching can help you improve exponentially as a leader - but most executives won't hire a coach. Here's why.
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All you need to know about executive coaching
If you want to engage your executive team, improve performance, and increase retention, you can’t offer a better option than executive coaching. Here's what you need to know.
The Prosperity Plan
9 Keys to a Family Business that Generates Wealth, Creates Freedom and Builds a Legacy
The first and most important decision you need to make if you want business growth & prosperity
The three pillars that make prosperity inevitable and can sustain an infinite legacy
How to escape the hamster wheel of "working to hard for too little" and get your business into the "Prosperity Zone"
