Determining Family Compensation
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...
Management Issues in Family Business
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...
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...
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...
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...
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...
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"...
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.
Gain New Perspective on Risk and Reward
March 18, 2007
A family business provides rewards and opportunities you just don’t find in public companies or larger organizations.
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.