12: The Natural Advantage of Family Businesses

08: Growing the Family's Human Capital

Description

Guest host Steve Legler speaks with FFI Fellow and family business consultant Ken McCracken about the importance of recognizing what our family business clients are doing right and avoiding jumping in with “best practices” and recommendations that don’t fit the family or the business.

Ken offers the idea of beginning any client intervention with “cautious observation” and then offers clients the benefit of those observations as a “reporter of sights” to the family. He then gives them some useful information that you, as an independent outsider, can reveal to them about their family and business systems. He also offers his views on family governance and whether or not everything needs to be formally documented for the family to succeed.