From Siblings to Cousins: Prospering in the Third Generation and Beyond

Paperback | December 15, 2010

byJohn L. Ward, Craig E. Aronoff

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Statistics show that many family businesses fail by the third generation-- those that survive are able to navigate the transition from a sibling run business to an expanded family run business.  Here Aronoff and Ward show siblings and cousins how to work together on key issues that are critical to the future success of the business including how to attract the most capable family members into leadership roles, how to develop agreement among many owners, and how to create a "cousin collaboration" which will go a long way to determining the prosperity and fortune of your firm.

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Statistics show that many family businesses fail by the third generation-- those that survive are able to navigate the transition from a sibling run business to an expanded family run business.  Here Aronoff and Ward show siblings and cousins how to work together on key issues that are critical to the future success of the business inc...

Craig E. Aronoff is Co-founder, Principal Consultant, and Chairman of the Board of the Family Business Consulting Group, Inc., the founder of the Cox Family Enterprise Center and current Professor Emeritus at Kennesaw State University. He invented and implemented the membership-based, professional-service-provider sponsored Family Bus...

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Format:PaperbackDimensions:112 pages, 8.57 × 5.52 × 0.26 inPublished:December 15, 2010Publisher:Palgrave MacmillanLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230111181

ISBN - 13:9780230111189

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Table of Contents

I. Introduction: Your Family's Last Major Business Transition * II. A World of Difference * III. Re-energizing the Family * IV. The Requirements for Success * V. Special Challenges for Cousin-Owned Businesses * VI. Managing the Business in the Cousin Stage * VII. The Art of Governance in a Cousin Business * IX.  Summary * Notes * Suggested Readings * Additional Sources * The Authors * Index

Editorial Reviews

"While being concise and quite readable, Siblings to Cousins thoughtfully examines the critical aspects of transitioning from a sibling- to a cousin-owned business and provides a tangible blueprint for achieving long-term family business continuity.  Authors Craig Aronoff and John Ward are among the very few authors who have the breadth and depth of experience with multigenerational family businesses required to formulate such a meaningful yet accessible framework for the issues surrounding this complex transition.   As a 4th generation member of a family dedicated to the continuity of our family business, I found this book to be both insightful and useful; I would recommend it highly to anyone interested in the long term health of family businesses."  —Kent Johnson, CEO, Highlights for Children, Inc., Columbus, OH "Dr. Aronoff's From Siblings to Cousins is right on the mark identifying the key differences between sibling and cousin generations, and offering practical solutions to maximize family effectiveness, therefore maximizing the value of the family business."  —Chris McKee, Executive Vice President, Marketing & Sales, McKee Foods "After reading From Siblings to Cousins I felt the book had to be based on the experience and stories from my own family business.  As a member of a "Cousin Collaboration" it was amazing to read about how many similar issues family businesses face regardless of the type of business or size.  For families that are in the process of succession planning from the siblings to cousins, this book is a must read."  —Peter Goldberg, President, AmTrust Bank