Family Business - Keep Your Business Thriving

Family Business Coach Irving Katz, MBA, has launched his new book, Family Business Secrets, "How to Keep Your Business Thriving From Generation To Generation"

This must-read book is a self-assessment guide that will help any business owner build a family business, plan forward & grow the business for generations to come! Irving has shared some of the best secrets that he has learned during his 40 years in business & coaching in a concise 90-page guide, catering to the needs of busy family business leaders.

For instance, Irving shares with us the best ways to assure harmony when running a family business:

1. Develop your children's values & capabilities from a young age
2. Create a family mission statement
3. Instill both a competitive & service ethic and culture in the business
4. Build a team of owners comprised of family members
5. Retain key "non-family" employees in the business

The Family Business Guide starts with a real case study: A Family Business Obituary, accentuating the importance of planning, with key bullet points on why some family businesses succeed & why some fail.

The Family Business Guide has 8 chapters, that are quick to read & understand, with details on how to implement the key strategies through self assessments.
Chapter 1 is about achieving Business Stability, a barometer of whether your business can be passed down to the next generation.
Chapter 2 delves into the strategic planning needed to create a SET plan and a plan of action.
Chapter 3 details the key processes for Setting a Foundation, including Family Meetings best practices.
Chapter 4 provides useful tips on growing the family business through expanding the product line, going into new markets, and creativity & innovation.
Chapters 5 & 6 are about succession planning, choosing and developing the successor, and preparing the business for transition.
Chapter 7 goes into the details of living on a budget, and planning for retirement.
Chapter 8 puts it all together, and gives a synopsis of the SET strategy.

I invite you to pick up your copy of Family Business Secrets today! It is a must-read for today's family business owners.