Soriano: A fair compensation plan for active family members (Part 3)

Thought leader and family business consultant John Ward and his co-author Craig Aronoff highlighted a good narrative why family compensation is a very sensitive topic: “Compensation problems rarely arise during the family business’ first, entrepreneurial stage, because the parents remain firmly in control and determine all questions of compensation. But during the second stage (sibling […]

Soriano: Founder’s dream: Preserving wealth, unity and legacy

THE world is changing; entrepreneurs must do two things simultaneously–brace themselves for the post Covid-19 recovery and embrace succession planning. The latter is key to achieving a long-term legacy in the enterprise. When planning is done early, it captures the whole gamut of any founder’s aspirations: Defines the entry of family members in the business, […]