The holidays are a time for family – that may be a cliché, but it’s a cliché for a reason. For many of us, this time of year is dominated by family gatherings and moments to connect with our loved ones.

While the unique dynamics of a family business provide many benefits, they also create a few challenges. One of the most significant is the difficulty that comes with talking about the future.

Leadership is an elusive skill – one that many businesses spend a lot of time and energy trying to develop. It is also a critical function that can determine a business’s ability to survive and thrive.

Operating a family business has many challenges, from deciding on legacy issues to managing the complex interdependence of the family unit with the commercial world.

As we lose our natural vision, the older we get; we often require the assistance of others, to see what is before us. This holds true in the life of a family business; the longer we co-exist together, the harder it becomes to “see” and be forward thinking.

Though divorce has many implications, both emotional and practical, one of its key considerations is the equitable division of assets.

Whether in a family business (or in a production), in order to be a success; defining the roles and responsibilities for each member is crucial in creating a culture of professionalism, personal responsibility and accountability.

Is your business a financial savvy family firm? The long term success and failure of a Family Firm and its members is directly related to how financially knowledgable its members are.

Without healthy boundaries between ourselves and the business, we can end up feeling we are not in control of our lives and that our lives are being defined by the business.