Below is the famous quote from Warren Buffett. As I keep repeating to clients - always balance the cost of my fees to the value I bring along as a family business consultant. So what is the value I bring along? Many times family businesses would be interested in my services when faced by two …
Continue reading The value of an external family business consultant
I still see many business, including family businesses, that have the perception that training is an optional extra rather than a core necessity. To be honest, training on technical matters easily takes place, like training on a new accounting software. Where training is considered a nicety, is with regards what we once referred to as …
I have seen it happen over and over again. As family businesses approach a generational transition conflict can very easily arise. The source of this conflict is normally the different ideas and views between the older generation and the younger generation - with the usual clash of tradition versus innovation OR continuity versus change. On …
Continue reading Is the Legacy of a Family Business an Enabler or an Inhibitor?
Disney. Who has not heard about Disney? It the world's most revered entertainment and media company. Disney is a company that doesn't really need much introduction. Everyone knows its theme parks created by its founder Walt Disney. It kind of embodies this American nostalgia. It's this iconic brand. Disney is the largest media company in …
Continue reading Disney – A case study of how Succession will go wrong if not carefully planned for
Toto Wolff has been heading the Mercedes F1 team since 2013. Mercedes won the constructors championship for 8 consecutive times from 2014 to 2021. Then suddenly as new rules came through in 2022, the golden era of Mercedes was over. Toto Wolff gives some insight in a short interview as to how he had to …
Continue reading Toto Wolff – Leading through difficult times
I always feel an underlying tension within family businesses. The tension is about what should come first. Is it family first or business first? If the business were to place the family first, there could be various implications. Families may decide that the business was created to secure the future of the family itself, in …
This morning I attended an event organised by the National Productivity Board. During this event, a researched study on Malta's productivity was presented. Click HERE to download it. Do you know what is the main identified barrier for private businesses to increase productivity and be more innovative? Its the fact that business leaders "are largely …
Mindset is everything. I firmly believe it. Daily interactions with various businesses and their leaders constantly reaffirms this. As we stand in mid-2023, many business leaders feel at a loss as they are constantly being faced by an accelerated pace of change and many unknowns. This heightened level of uncertainty and unknowns pushes business leaders …
This is the typical process I go through very frequently with family businesses. They first contact me and we set an initial meeting. I listen to their issues. Normally they describe the symptoms, but they are at a loss as to what is the root cause of the problem or problems they are facing. The …
As I have written in the past, the cost of capital is now on the rise, as central banks have to tighten monetary policy i.e. increase interest rates, to dampen demand as part of its fight to tame inflation. The bond markets have already reacted to this. As can seen below the yields on both …
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