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Three Pitfalls of Conflict Resolution

Family businesses deal with challenges that every other business must face on a daily basis. However, unlike non-family run companies, family businesses must also deal with family issues that can make difficult business matters even more complex. For this reason, it’s especially important to watch out for the three pitfalls that undermine healthy conflict resolution: […]

In-laws in the Family Business: Using an Accountability Matrix to Integrate In-laws into the Business

In-laws can provide more benefits to the family business than one may think. In our previous blog post about in-laws, we discussed how to improve relations between in-laws and family members. In this post, I’m going to get specific and talk about how to use an accountability matrix as a tool to analyze an in-law’s […]

In-laws in the Family Business: Changing the Dynamics of In-Law Relationships

Generally speaking, many would agree that marriage is associated with feelings of happiness, love, devotion, and commitment. However, within a family business, wedding bells can sound less like a celebration and more like a warning. There’s no doubt that marriage is critical to the continuity of a family business and the parenting of future generations. […]

Family Businesses Give Back to their Communities

As the holidays are upon us, the spirit of giving is in the air—especially for family businesses. A unique characteristic about family businesses is that they hold philanthropy to a very high standard, and not just around the holidays. A family business’s reputation is based on the support they receive from their community, as well […]

Recognizing the Advantages in Your Family Business

Today’s media focuses too often on negative stories of family business: the feuds, the rivalries, the breakdowns, and the drama. This is the side of family business that, more often than not, is fed to society. There’s no denying that family businesses have their challenges. They do. But family businesses also come with a number […]

Building Emotional Intelligence

Emotional intelligence- EQ- the indicator of self-awareness, self-management, social awareness, and relationship management. The importance of emotional intelligence is often underestimated, but it shouldn’t be. Emotional intelligence is a critical component of interpersonal and professional effectiveness. Knowing how to leverage emotional intelligence can help utilize creativity and create a broadened perspective to increase effectiveness in […]

Honoring the 2014 Illinois Family Businesses of the Year

“We in this room are all so very blessed because we, with our families, have a common focus. We have a common mission—to not only make things better for our family, but for our employees, and all the stakeholders we may have.” –Dave Yeager, Hub Group, 2014 Dean’s Award Recipient

The Illinois Family Business of the […]

Positive Thinking in a Family Business

In times of crisis, emotional dynamics play a major role in our decision-making process, particularly in the way we interact with family members. Although it can be a challenge, maintaining a positive mindset during difficult and stressful times ends up being extremely beneficial for the overall well-being of the family business. Below are some situations […]

Family Unity: A Family Business Core Strength

In a family business, family unity is critical to grow and maintain wealth across generations. While this might sound obvious, many families lack strong family unity, leaving the business vulnerable and jeopardizing its chances for long term success.

Keep in mind that families typically grow at a much faster rate than businesses. Unless there’s significant growth […]

Conference Notes: Children of Wealth: Fact vs. Fiction

There are a number of assumptions around children of wealth. Some true, some not so true. Ed Monte, founder and principal of the Family Solutions Group, had a candid conversation with me sharing key insights on the topic. Check out Ed’s fact vs. fiction list below and see if your assumptions about children of wealth […]

About this blog

Welcome to the Loyola Family Business Center’s blog. Featuring the Center’s Executive Director, Andrew Keyt, this blog focuses on all things family business: leadership styles, family strategy, succession planning, managing family conflict, next generation development, and more. You’ll also find insights and developments about the Center, including information and highlights about our programming and events. Follow us on Twitter @LoyolaFamilyBiz for updates, and let us know if there’s a topic you’d like covered.