I hear the terms “succession planning” and “exit planning” a lot. Often, printing business owners confuse the terms. Let's go over each to make sure you're in a power position to consider your future moves and decisions.
Rock Around the Block - The Blog of Rock LaManna
As we approach Father's Day, I want to take a look back at my father's career and his legacy. As a man in his 90s, Carlo LaManna has much to look back on with pride.Read More
Family-owned businesses, when they work, draw tremendous strength from their emotional firepower. Learn more about seven challenges of a family business, and how one family has persevered through them.Read More
Topics: Family Business
The first answer is obvious: They both pulled off stunning victories in the fall of 2016. The second answer is not: They are both products of successful family businesses. Let’s take a look at why their family business structures work -- even against all odds.Read More
Topics: Family Business
When I started working for my father at Vomela in 1975, I knew virtually nothing about the business. But through the years, he would teach me countless life lessons about owning a company and creating a vision to successfully sell a business.
George Costanza once learned that “worlds colliding” can kill a relationship. The same holds true when a family sells its business, as family issues clash with business objectives. To reduce friction, you’ll need to separate these two systems of your family business.Read More
Did you ever notice how a family business conflict can last for years, even though everyone wants it desperately to end? That’s because no one wants to take that first step and confront another family member. Here’s a better alternative: Talk about your problem with someone outside the family.
As part of my upcoming presentation at PRINT 13 on “Making Big Decisions: Will Doing Nothing Destroy My Business?” I tapped our family business guru Tom Hubler. I asked why family businesses opt to “do nothing” instead of pursuing strategic transitions like succession planning. That’s when he introduced me to the Family Business “Do Nothing” Conspiracy.
Psychologists are familiar with the term “transference,” but most owners don’t realize this is often the cause of a family business conflict. It’s a problem they don’t teach you about in business school, yet affects owners, vendors and employees.