This a multifaceted story, one that includes one of America’s iconic brands, an avid race car aficionado who earned his stripes for nearly 20 years before returning to the third generation family business, and saving that company from what might have been decay and failure had some of the lessons he learned not been put in place.
Here’s the thing…good planning avoids conflict. But, good planning is much more than asset allocation. Advisors implore their clients to plan for the future. They often use disturbing techniques like horror stories of deplorable outcomes due to a lack of planning. Usually the disturbing track is about a loss of money either to the tax […]
It is one of Michigan’s most iconic buildings: The Grand Hotel, the stunning century-old hotel that symbolizes summer, cool porches, hospitality and family fun. Its third-generation caretaker, R.D. (Dan) Musser III, serves as both president of the state’s “summer hotel” but also as its spokesperson in many ways. He takes on this role with grace, […]
Every leader surrounds themselves with advisors. We have all had mentors throughout our lives whose lessons have given us our ethics, values and acumen. Whether it be a parent, teacher, clergy or Dutch Uncle, our mentors have shaped our abilities to think, reason and solve. If we are fortunate enough to have some of those […]
Conflict in a family business needs to be addressed and managed before it is allowed to dominate poor governance and ultimately destroy the business. Using the conflict paradigm puts you on the road to resolution.
Like many family businesses, a solid succession plan is important not only for the family involved, but for the entire organization. Understanding the family dynamic and open communication are the building blocks to begin the process of changeover
The accounting function of a business should measure more than profit and equity once a year. It should provide a service for management to help determine how money was made and how equity can be increased.
When it comes to a family company, it can be difficult to figure out how to get a millennial involved in a long-standing business, especially one as organized as a medical center. But it was a challenge that Dr. Stephen M. Swetech, DO, FACOFP, was eager to take on, mostly because it involves his two […]
Winners of the Corp! Michigan Economic Bright Spots Awards drive growth and success all across the state.
Have you ever wondered how succession looks through the eyes of the successor – or successors? Plenty has been written about “how to” for the exiting seniors, but little has been said about how this looks and feels from the next generation in a family enterprise.
More than 9 million companies are in the hands of the baby boomer generation who founded them and in the next 15 years most of those businesses will need to transition to new ownership. Here’s how to do it right.
Sibling rivalries can leave families ruined and businesses destroyed. To avoid sibling rivalry overdose, families and businesses need to establish “best practices.”
Regardless of how your business was formed, or what your family system looks like, the family dynamics, culture, traditions and personality will permeate the business. As a family business you should embrace that and make the family and the company better because of it.
Corp! in print and online is a B-to-B publication that features success stories, best practices and strategies that CEOs, business owners, executives and managers will find useful and relevant. We pride ourselves on not making editorial decisions based on how much coverage a story has received in other media, or how it ties into the latest scandal in the business world. Corp! is dedicated to raising the profile of business in our communities and driving it forward.
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