FFI Global Conference / Latest Thinking in the Field

Family Business: Electrifying (Part 4)

“Pain” and “Innovation” are the topics for this week’s Practitioner. Are they at odds with each other conceptually or do they enable more successful outcomes for family enterprise clients? See what you think — and thanks to the authors and to Lanie Jordan, whose introduction for Week 4 of the Special Issue on “Manage the grid and flip the switch” is below.

Yours in Practice,
The Practitioner


A special thank you to John Engels, president of Leadership Coaching, Inc., for his article entitled Lesson for Family Advisors: “Not all pain is harmful”. In this piece, John introduces us to two brothers, Dave and Andrew, who founded a successful healthcare business together. Their refusal to discuss tough issues finally comes to a head with one brother losing his position within the company after a costly mistake. John suggests three ways in which advisors can contribute to avoidance behavior and discusses how to recognize the difference between being invasive and practicing strategic courage with clients.

The Practitioner would also like to recognize first-time contributor, Alan Robinson, PhD, for his interview entitled “Jumpstarting Innovation within the Family Firm.” Alan discusses frequently missed opportunities that can happen within family firms in regards to innovation and how we, as advisors, can recognize and address these issues. Alan also introduces us to “The Idea Board” — a tool we can use to help clients collect, prioritize, and create action as a team to promote innovation within the family firm.

Lanie Jordan, co-chair
The Practitioner Editorial Committee

 

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