By Prof Enrique Soriano World Bank/ IFC Family Governance Consultant  Jeff Faulkner once warned business owners, “Entitlement issues are rampant in family owned businesses. It is a stealthy and dangerous disease that can have a widespread and prolific impact on our business culture, as well as at home. How do […]

It wasn’t raining when Noah built the ark. Anonymous Every business owner needs an exit plan. Family owners should plan for an orderly exit, so that their personal and financial goals are properly considered, the relevant succession options are identified, the liquidity event is efficiently managed, and the generated wealth […]

Ram Kumar’s NirogStreet shows the way in showcasing Ayurveda Ram Kumar makes no bones of the fact that he struggled with ailments and economic distress to finally reach where he is today. He is a true son of the soil who never forgot his roots even when he was struggling […]

There was no reason for Frank Jurgen Richter to become an entrepreneur. He is a citizen of the one of the richest countries in the globe. As a Swiss citizen, he is entitled to all the benefits that come with a generous, social security system. There was need for him […]

There is a famous cliché, which is quoted frequently and seems to have been accepted as a universal truth: The first generation builds, the second generation consolidates, and the third generation destroys the family business. A very common statistic on family business suggests that only 30% of family firms are […]

One of the biggest challenges in a family-owned business is firing an underperforming family member. Although a complex process, running a successful family business means recognizing a responsibility to the business and all of the employees of the business. The situation at hand should be dealt with integrity and maturity. […]

After watching a movie how many of us care to remember the name of the director of the film? Such is the fate of all those who toil behind the scenes to bring the big, 70 mm screen to life. Not that successful entrepreneur, Jaspal Singh Sawhney would mind this […]

Developing an effective dress code in today’s workplace is often a daunting task for small, large, and even family businesses. Whether we like it or not, the way we dress and present ourselves, defines how we are perceived by others. That’s why it’s necessary to project the right image through […]

In the last few decades, the dynamics of both,the modern and traditional Indian family set-up, has undergone a dramatic evolution. Somewhere in the whirlwind that has been the globalisation of India, a new age of estate planning was ushered–one that has beenfuelled by an increasinglyfinancially-savvy demographic, that is acutely aware […]

In a family business, the success and longevity of the business depends on the functional and healthy bonds between the family members. When anger is part of a family’s tradition, it carries forward to the future generations, too. The wider the spread, the more difficult the anger is to contain. […]