“To have lived a meaningful and productive life is such a wonderful thing, but to live a life that will be remembered for the wisdom it shared with others is…

“I choose to rise up out of that storm and see that in moments of desperation, fear, and helplessness, each of us can be a rainbow of hope, doing what…

When a business owner dies or becomes permanently disabled, the business itself may die or be permanently disabled on the same day – not because something wrong was done –…

“WE learned about honesty and integrity – that the truth matters… that you don’t take shortcuts or play by your own set of rules… and success doesn’t count unless you…

“Every policy setting process stregthens and unifies the family and increases the likelihood of long term business and damily success, survival and prosperity.” – JS Strachan Running a family business with…

“Its hard to move forward on Governance policies and Succession until the family has established some form of mutual respect among its members” Sibling rivalry is a conflict that could last…

Comparison is a death knell to sibling harmony. – Elizabeth Fishel (Part 2) I WILL conclude my article related to sibling rivalry. Behavioural research have shown that emotion-based sibling rivalry…

“THE family company is an inheritance to be protected and handed in the outcome of the last geeration and each generation’s commitment to the next” – Gianni Agnelli Late President…

Strategy development is a question-based process: Where are we now? Where would we like to go? How do we get there? Strategic planning—for both business and family—can help to strengthen…

One of the most dangerous survival tests for family businesses is their succession. It is no surprise therefore that many successors and heirs feel relief and complacency once the transition…

THE future is not somewhere we are going. It is something we are creating. Every day we do things that make some futures more probable and others less likely. Reducing…

(Part 2) THE composition of the board should complement the knowledge and skill set of the owners. Good advisory boards will have at least one member with strong financial skills,…

“IF there were only one “success strategy” I could recommend to a family business, creating an Advisory Board would be that strategy.  In times of crisis, the Advisory Board can…

THE tenth and most important rule is that “there can only be one boss.”  Lance explained that this rule is related to succession. The role of the family and owners…

Even if your family business is a model of harmony, it’s a good idea to think about how you’ll deal with conflicts before they arise. “There comes a time when…

DOING business with family and friends can be very rewarding. It can also be very complicated and difficult.  Anyway, doing business with loved ones has never been a neutral topic.  …

THE Sixth Commandment is “pay must be based on contribution to the business”. Lance Gokongwei said that in order for the family member to live and think independently, the family…

THERE’S an old saying that may be wiser today than ever: “East is east, and west is west; and never the twain shall meet.” This holds true in the case…

“TO set aside one’s prejudices, one’s present needs, and one’s own self interest in making a decision as a director for a company is an intellectual exercise that takes constant…

No in-laws! THIS is the first of 10 unwritten commandments which John Gokongwei, founder of the Gokongwei group of companies, followed in running the family business “the Gokongwei way.” (I…

Society is becoming more individually oriented.  More and more single occupancy homes are being sold.  People are marrying less and later in life.  They are also divorcing more.  Single parent…

LEE-CHUA, (1997) defined a successful family business as “one that has existed for at least 10 years, is still existing, and has made a name for itself in its field….

WE ALL have opinions and sometimes we hold very divergent views, as you would imagine when you bring together a group of people who are active within different industry spheres…

The legendary David is back. He is back in the Philippines, battling the giants in the petroleum industry. Slowly but surely, he is creating a niche in an industry dominated…

FAMILY businesses have both strengths and weaknesses. The overwhelming strength of the family business is the different atmosphere and feel that a family concern has. There can be a sense…

LENT prepares the Christian for the yearly commemoration of Christ’s Death and Resurrection.   Forty weekdays – hence the term ‘Cuaresma’ in Spanish, are given over to prayer, almsgiving, fasting, and…

IN A family business, it’s the third generation that presents the big problems. The first generation founds the company and has the drive and the dedication to move it forward….

STARTING a family business presents unique challenges over and above the usual problems a start-up faces.   That’s why only one in three family businesses survives to the next generation.  Less…

“NEVER underestimate small people with big dreams,” was the favorite quote of one inspiring lady from Iloilo who pioneered the spa business in the province in 2000, back at the…

FAMILY Businesses are the cornerstone of the economy. They are all around us –from neighborhood mom-and-pop stores and the millions of small and midsize companies that underpin many economies to…