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 [...]
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 [...]
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 [...]
This year’s FBC Member Social was an afternoon filled with family fun, memories, and anticipation as bets were placed and the horses raced for the winning title at Arlington International Racetrack. As the races began, our families relaxed and enjoyed a delicious lunch and refreshing cocktails in a private Marquee tent. It was a great [...]
Family values permeate the culture at McKee Foods. Integrity, quality, productivity, responsibility, people, and innovation. They act as a kind of compass–a set of guiding principles for both non-family and family employees. McKee holds them in high regard and has, throughout the company’s history, passed them on from one generation to the next. Mike McKee [...]
It was a relaxed, social evening as up-and-coming NextGens gathered at Chicago’s sheek Epic Restaurant this past week to mingle and share their family business experiences during NxG: Get Social. While savory appetizers and cold cocktails were being served, NextGens took the opportunity to bond with one another and connect over shared experiences and opinions [...]
Amidst an array of hors d’oeuvres, French culture, and breathtaking Parisian sights, Family Business Network chapters from around the world came together for FBN-I’s 25th Anniversary in Paris this past week. Accompanied by FBC’s Membership Director Anne Smart, FBC Board Member Mary Yeager, and a few other FBC members, the families of the French chapter [...]
The FBC recently partnered with the Family Business Network-North America on its first conference of 2014: Taking the NxG to the Next Level: Key Strategies for Next- and NowGen. Over the course of two days, attendees delved deep into the challenges that arise between Next and NowGen family members. Keynote speakers and FBC members shared [...]
The FBC hosted its first-ever NextGen Networking Event at Chicago’s own City Winery. The venue served up a bevy of craft beer and wine, and gave all of our NxG attendees an after-work hangout to eat, drink and mingle with their peers.
Our aim for the event was to build community. We wanted to carve out [...]
Despite the stormy forecast last month, the FBC’s second-annual Summer Boat Cruise set sail on the waters of the Chicago River. Over 70 passengers kept dry aboard the Leading Lady, one of the newer vessels from FBC Member, Chicago’s First Lady Cruises.
Once we got going, the rain let up long enough for people to venture to [...]