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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 [...]

A Day at the Races

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 [...]

Conference Notes: Leveraging Values in a Family Business

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 [...]

NxG: Get Social

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 [...]

Celebrating FBN-I’s 25th Anniversary in Paris

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 [...]

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.