 Just yesterday I participated in a Zoom Conference on Resilience and I was reminded of the work of Jon Kabat-Zinn, who wrote a book by the same title. He took the title to describe his stress reduction and resiliency program at U. Mass Hospitals. His program teaches people to embrace their pain as a means to create resiliency in their lives. The title comes from the movie or book Zorba the Greek.
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 Welcome to 2020! To celebrate the new decade, we’re pulling a meaty tidbit straight out of the heart of The Soul of the Family Business by Tom Hubler and learning Hubler’s five secrets of highly successful family-owned businesses. While obviously these are not the be-all-end-all of success (these tips occupy merely a few pages of a lengthy and insightful book), they are fundamental lessons that can be taken alongside more detailed explanations and strategies found within the rest of the book and this website. For more information, consider picking up The Soul of the Family Business, but without further adieu, here are five secrets of highly successful family-owned businesses:
 After all the hard work that goes into creating a useful Inside-Out Succession Plan™, it can be easy to forget that a just-as-difficult challenge lies in putting that plan into action and taking all the necessary steps to make sure that your succession plan proves to be truly successful. Far too many entrepreneurs and business owners will put incredible work into crafting the perfect plan only to find themselves burnt out and ready to leave before it can be fully realized, leaving the future generation without the proper guidance, training, and leadership they need to succeed.
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Too much stress has the ability to negatively impact many, if not all, areas of your life. In fact, chronic stress carries high financial, physical, and psychological costs, all of which can be doubly punishing in a family business. “What many consider normal day-to-day family issues can produce stress that can cause serious harm if unacknowledged,” explains Tom Hubler, a sought-after family business consultant with about 40 years of experience in helping family-owned businesses thrive.  Last month, we started our discussions of Inside-Out Succession Planning™, a framework for creating plans to move the business from a current (and often original) owner. Transferring a business from a founding generation to new ownership is a hurdle at which many otherwise successful businesses fall. This is not necessarily due to incompetence on the part of either the new ownership or the founder, but rather a failure to take into account all the complexities involved in smooth, financially and emotionally healthy transfer of power and leadership.
 We’ve discussed nepotism—the act of those in power favoring friends and family members when hiring, promoting, or building a business—before, but now it’s time to talk about the flip side of this phenomenon: entitlement. While entitlement can exist in senior generations of a family business, it’s most commonly associated with younger generations, where younger-generation family members feel entitled to certain rolls or positions of power or authority in a business by virtue of simply being related to the business owner or leader.
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Family Renewal Retreat™SCHEDULE YOUR FREE ORIENTATION MEETING.Take this risk-free first step in ensuring the continued success of your family business now. There is no charge for the orientation meeting other than out-of-pocket expenses for travel.
TOM HUBLER WILL GIVE YOU A FREE ORIENTATION.Does your family business need help with succession planning, conflict resolution, management or other issues? If so, we'll arrange a one-on-one orientation meeting with you and Tom Hubler to help you explore the possibilities of working with us. If you choose, your family and business associates can also attend. Here, in a relaxed environment, you can talk about:
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AboutHubler for Business Families helps family businesses manage the boundary between their business/financial concerns and family relationships.
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