GOLDEN GOOSE TEST FOR FAMILY BUSINESS
The “Golden Goose” Test Employment Yes No Entry into the business is based on company (not personal) need. Standards and requirements for employment (education, skills, experience, hours, etc.) are evenly applied and enforced. Family members are promoted on the basis of competence and position availability. […]
THE FAMILY CONSTITUTION
Imagine playing a game without knowing the rules! Yet, that’s what most families in business try to do. Rare is the business-owning family who has articulated in detail how it is going to govern its business and personal affairs. Consequently, too few families can both run their businesses successfully and […]
WHAT’S FAIR?
Business-owning parents are no different from other parents. They want to be fair to their children and treat them equally. It is for this reason many decide to gift equal shares in the business to all their children, regardless of their respective contributions to it or involvement in it. By […]