Harvard Business Review Family Business Handbook

Though 'family business' may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, tax returns, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family?

This comprehensive handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Based on their decades-long experience working closely with a wide range of family businesses around the world, the authors present proven methods and approaches.

In the HBR Family Business Handbook you'll find:

• A new perspective on what makes family businesses succeed and fail
• A framework to help you address the myriad decisions facing your family business including how to make good decisions together
• Step-by-step guidance to help you understand what type of family business you own, define success on your own terms, communicate effectively, manage conflict, prepare for changes within your business family, and transition to the next generation
• Key questions about wealth, unique to family businesses, that you can't afford not to ask yourself and your family
• Exercises and assessments to help you determine where you are and where you want to go
• Stories of real families and real companies, from Radio Flyer to Sierra Nevada Brewing Company

The HBR Family Business Handbook addresses these issues and more. Keep this guide with you to help you build, grow, and sustain your family business--and your business family--for years, and generations, to come.

“Advance Praise for The Harvard Business Review Family Business Handbook : "Family businesses are not for the faint of heart. Even in the best of situations, the complex relationships between family and business are hard to navigate. The authors of The Harvard Business Review Family Business Handbook bring the experience, insight, and wisdom to help families wrestle through hard decisions and land in better places. I highly recommend this book." Bill Haslam, Haslam Family Capital, formerly Governor of Tennessee and President of Pilot Flying J "Want your family business to endure, not just for years, but for generations? This is the book for you! Baron and Lachenauer fully understand the challenges and opportunities of family businesses and provide excellent and actionable guidance and advice. As a mother and daughter in a 5th generation family business, we know such guidance is invaluable. This Handbook is approachable and a great resource for every generation." Pamela Mars Wright and Charlotte Rossetter, 4th and 5th generation Mars family " The Harvard Business Review Family Business Handbook is a must-read for family business owners, family members, advisors, and employees. Easy (and dare I say fun!) to read, the authors mix great storytelling with actionable guidance and advice. Highly recommend!" Robert Pasin, CEO of 3rd generation family business Radio Flyer "Family Owned Businessesthe pride of generations of families and, for that matter, all Americansare the backbone of so many communities. They create vast economic opportunity and value for their owners and employees. The Harvard Business Review Family Business Handbook lays out in proven fashion the frameworks, tools, and advice that should be instrumental to families to propel their businesses over many multiples of generations. A must read and invaluable resource." Douglas R. Oberhelman, Retired Chairman and CEO of Caterpillar Inc "Our family's legacy has always been steeped in a foundation of core values and a heart of service. As described in The Harvard Business Review Family Business Handbook , Banyan's approach is genuine, thorough, balanced and wholistic, effectively ensuring our legacy is alive vs historical. The tools, tactics and strategies detailed in the Handbook meaningfully impacted our family's successful generational transition to the 4th generation and aligned strongly with our philosophy of Values Based Leadership." Peter J. Holt and Corinna Holt Richter, 4th Gen Owners of HOLT CAT "WOW!!! This is a must read. Running a 4th generation family business, I have read A LOT of books on the subject. Hands down The Harvard Business Review Family Business Handbook is the most succinct, applicable and useful of them all. I read it cover to cover. This will be a dog-eared book on my bookshelf and referenced often. Easy to read, but full of substance, the handbook covers everything you need to help guide your family business across generations!" Dr. Jodi Berg, 4th generation President & CEO, Vitamix "Purpose-driven, values-based, people-focused generational family businesses can and do change the world. They create and retain jobs, they enhance communities, and they provide all of their stakeholders with opportunities to pursue work that really matters. But all of this can only happen if they first run a great business. The Harvard Business Review Family Business Handbook shows you how!" Steve Shifman, President & CEO of multi-generational family business Michelman”

"We endorse this book whole-heartedly for any family business and recommend it as a resource to keep on your shelf or to share at your next family business meeting with your shareholders." — Mercer Capital

"for business owners looking for guidance, this book offers sound advice." — Financial Times

"In my opinion, this is 'the handbook' for family business owners and an essential read, highlighting some of the pressures placed on families in business together, but with insights and suggestions as to how to start a conversation. Open and honest conversations are something that I refer to regularly and this book is a good place to start and will undoubtedly help many families in business realise the need to talk, to discuss the challenges and find a way forward that works for them. Definitely one for the reading list!" — Family Business United

"This an invaluable and comprehensive guide with you to help you build, grow, and position your family business to thrive across generations." — Midwest Book Review

"…helps business families learn to live and work together while creating both family harmony and a thriving business." — Forbes.com

Advance Praise for The Harvard Business Review Family Business Handbook:

"Family businesses are not for the faint of heart. Even in the best of situations, the complex relationships between family and business are hard to navigate. The authors of The Harvard Business Review Family Business Handbook bring the experience, insight, and wisdom to help families wrestle through hard decisions and land in better places. I highly recommend this book." — Bill Haslam, Haslam Family Capital, formerly Governor of Tennessee and President of Pilot Flying J

"Want your family business to endure, not just for years, but for generations? This is the book for you! Baron and Lachenauer fully understand the challenges and opportunities of family businesses and provide excellent and actionable guidance and advice. As a mother and daughter in a 5th generation family business, we know such guidance is invaluable. This Handbook is approachable and a great resource for every generation." — Pamela Mars Wright and Charlotte Rossetter, 4th and 5th generation Mars family

"The Harvard Business Review Family Business Handbook is a must-read for family business owners, family members, advisors, and employees. Easy (and dare I say fun!) to read, the authors mix great storytelling with actionable guidance and advice. Highly recommend!" — Robert Pasin, CEO of 3rd generation family business Radio Flyer

"Family Owned Businesses—the pride of generations of families and, for that matter, all Americans—are the backbone of so many communities. They create vast economic opportunity and value for their owners and employees. The Harvard Business Review Family Business Handbook lays out in proven fashion the frameworks, tools, and advice that should be instrumental to families to propel their businesses over many multiples of generations. A must read and invaluable resource." — Douglas R. Oberhelman, Retired Chairman and CEO of Caterpillar Inc

"Our family's legacy has always been steeped in a foundation of core values and a heart of service. As described in The Harvard Business Review Family Business Handbook, Banyan's approach is genuine, thorough, balanced and wholistic, effectively ensuring our legacy is alive vs historical. The tools, tactics and strategies detailed in the Handbook meaningfully impacted our family's successful generational transition to the 4th generation and aligned strongly with our philosophy of Values Based Leadership." — Peter J. Holt and Corinna Holt Richter, 4th Gen Owners of HOLT CAT

"WOW!!! This is a must read. Running a 4th generation family business, I have read A LOT of books on the subject. Hands down The Harvard Business Review Family Business Handbook is the most succinct, applicable and useful of them all. I read it cover to cover. This will be a dog-eared book on my bookshelf and referenced often. Easy to read, but full of substance, the handbook covers everything you need to help guide your family business across generations!" — Dr. Jodi Berg, 4th generation President & CEO, Vitamix

"Purpose-driven, values-based, people-focused generational family businesses can and do change the world. They create and retain jobs, they enhance communities, and they provide all of their stakeholders with opportunities to pursue work that really matters. But all of this can only happen if they first run a great business. The Harvard Business Review Family Business Handbook shows you how!" — Steve Shifman, President & CEO of multi-generational family business Michelman

Josh Baron is a cofounder and Partner at BanyanGlobal Family Business Advisors. He works with the leaders of family businesses to define their purpose as owners and establish the structures, strategies, and skills they need to accomplish their goals. A sought-after speaker who also teaches at Columbia Business School, Baron is a frequent contributor to HBR.org.

Rob Lachenauer is a cofounder, Partner, and CEO of BanyanGlobal Family Business Advisors. Lachenauer, who works around the world helping business families thrive, is also a frequent contributor to HBR.org. He is the coauthor, with George Stalk, of Hardball: Are You Playing to Play or Playing to Win?

Connect with Josh Baron and Rob Lachenauer at banyan.global or on LinkedIn. Follow them on Twitter @BanyanFBA.

Though 'family business' may sound like it refers only to mom-and-pop shops, businesses owned by families are among the most significant and numerous in the world. But surprisingly few resources exist to help navigate the unique challenges you face when you share the executive suite, tax returns, and holidays. How do you make the right decisions, critical to the long-term survival of any business, with the added challenge of having to do so within the context of a family? This comprehensive handbook brings you sophisticated guidance and practical advice from family business experts Josh Baron and Rob Lachenauer. Based on their decades-long experience working closely with a wide range of family businesses around the world, the authors present proven methods and approaches. In the HBR Family Business Handbook you'll find: A new perspective on what makes family businesses succeed and fail A framework to help you address the myriad decisions facing your family business - including how to make good decisions together Step-by-step guidance to help you understand what type of family business you own, define success on your own terms, communicate effectively, manage conflict, prepare for changes within your business family, and transition to the next generation Key questions about wealth, unique to family businesses, that you can't afford not to ask yourself - and your family Exercises and assessments to help you determine where you are - and where you want to go Stories of real families and real companies, from Radio Flyer to Sierra Nevada Brewing Company The HBR Family Business Handbook addresses these issues and more. Keep this guide with you to help you build, grow, and sustain your family business--and your business family--for years, and generations, to come.

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