Management Issues in Family Business

  • Determining Family Compensation

    July 18, 2012

    Over the years I've witnessed a number of family business members work for a very low wage in anticipation of a financial or farmland windfall at some later point in their career. They are promised...

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  • How to Fire a Family Member

    June 18, 2012

    In the family business, firing a family member may not make you more popular, but if everyone knows that a particular family member needs to go, actually letting them go may provide a significant...

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  • Get the Right Stuff in Family Transition

    December 18, 2011

    A few weeks ago, I moderated a breakout session at DTN's annual Ag Summit where two members of Lenz Farms of Wray, Colo., described their family farm's "boot camp" for beginners. With eight partners...

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  • Scout Your Team's Talent

    September 18, 2011

    Many business owners say that their people are their most valuable asset. Without family members, business partners, and good employees possessing a range of talents, the business cannot grow or...

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  • Unity Builds Family Farm Success

    June 18, 2011

    Will Rogers once said if you want to be successful, "it's just this simple. Know what you are doing. Love what you are doing. And believe in what you are doing." As I travel the country working with...

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  • Hiring a Non-Family Leader

    May 18, 2011

    Investment firms have a quote that flashes at the end of their commercials or is written in small-type on their marketing materials: "Past performance is not an indicator of future results." Because...

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  • Together, Three Towns Pursue the Positive

    April 18, 2011

    In Meade County, They're Turning 'Me' Into 'We' The "C" word-consolidation-is mentioned often in rural America these days in light of budget cuts and shrinking populations. But there is another "C"...

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  • The Power of Recognition

    December 18, 2010

    As busy season arrives, the focus turns toward long hours, back-to-back client meetings, stacks (or electronic drawers) of files, and the frantic pace of filing deadlines. 

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  • Make Business Goals Part of New Year

    January 18, 2006

    As you begin 2006, what are the goals for your family farm or ranch? Consider outlining your goals based on the three primary systems at play in a family business: ownership, management and family.

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