Knowing your family is the key to business success.
After over 25 years of teaching family businesses around the world, we have seen some outstanding business families who understand and use professional planning tools to help their families and businesses perform better.
But many families still neglect addressing their family plans because they know the issues are emotional and they do not want to risk potentially explosive conversations.
The reason that many business families do not plan for their journey together is that the process is time consuming, dangerous, and complex.
This article followed Prof Carlock's webinars on Family Business Leaders as Dealers in Hope for The Family Business Network and YPO in May. It shares five behaviors for leading family businesses in a crisis.
18 March 2019
A Family Business on the Moon – Lessons from the Author Prof. Randel Carlock by Tony Sekulich
Tharawat Magazine speaks with Randel Carlock about his new book A Family Business on the Moon, the importance of the Parallel Planning Process (PPP), the critical task of developing talent within family businesses, and why we should think of family businesses as family enterprises.
13 August 2018
New book encourages family businesses to think like space travelers
Next generation family business planning requires a step-by-step approach not unlike planning a trip to the moon.
THE PARALLEL PLANNING PROCESS.
Encouraging family interaction is the most important feature of the book’s learning experience because it starts with individual thinking but stimulates the family’s participation in each learning activity.
The Parallel Planning Process (PPP) helps families align their values, vision, strategy, investment and governance for the benefit of both the family and the business.