The Little Red Book of Family Business
A book of 'quick hits' and commonsense adviceTo resolve many nettlesome family business issues, you're likely to want a detailed account of what has worked for other families, and how you can adapt it to work for you. But sometimes all you need are a few bullet points.David Bork, who has advised more than 400 family businesses - including some of the world's largest - provides a selection of these "quick hit" tips in hisLittle Red Book. The pocket-sized book, written on the suggestion of one of Bork's clients, is divided into 28 alphabetized sections, each containing several morsels to ruminate over (from "Attitude" to "Wills, Testaments, Bequests," plus a section listing "10 Keys to Success in Family Business")."If the business does not prosper, the family will not be prosperous," reads one entry. "Money is a tool, but it should never be used as a hammer," says another.Though each point is brief, not all of them are fortune-cookie length. One of the longer entries, for example, describes the purpose of a family constitution; another explains "criteria-based decision-making."Several of Bork's tips will be most valuable as conversation-starters with family members. (Example: "If the family ownership is used in marketing, then it is important for all family members to practice the values the family claims to have.") Others might spark some solitary soul-searching. (From the section on wills: "Don't try to legislate from 'the other side.' Nobody wants to see your bony hand pulling the strings.") Space is provided for readers to jot down notes should one of the points spark an idea.Bork's red book doesn't provide a solution to every problem, nor does it claim to. "This is a little book, not a big one," he writes. But if a pithy phrase will do the trick--or if you're looking for a quick, easy and enjoyable read that will also make you think--you may want to invest a little time to check out theLittle Red Book.--Barbara Spector, EditorFamily BusinessMagazineI like this book. You condense everything down to 280 points. This will be a handy reference guide and beacon for all who are connected with a family business. There is no question in my mind that David Bork played an important role in getting our family and our business to where we are today.--Richard Kelley, Chairman of the Outrigger Hotels, Honolulu, HIThe Little Red Book of Family Business is an insightful and simple guide to living and working in a family business. David Bork, summarizes his vast experience in an easy to use format, that is a must have for people who want a successful business, but more importantly a successful family life.--Joe DurnfordSenior Managing Director & CEOJD Ford & Company Investment BankersA book of 'quick hits' and commonsense adviceTo resolve many nettlesome family business issues, you're likely to want a detailed account of what has worked for other families, and how you can adapt it to work for you. But sometimes all you need are a few bullet points.David Bork, who has advised more than 400 family businesses - including some of the world's largest - provides a selection of these "quick hit" tips in hisLittle Red Book. The pocket-sized book, written on the suggestion of one of Bork's clients, is divided into 28 alphabetized sections, each containing several morsels to ruminate over (from "Attitude" to "Wills, Testaments, Bequests," plus a section listing "10 Keys to Success in Family Business")."If the business does not prosper, the family will not be prosperous," reads one entry. "Money is a tool, but it should never be used as a hammer," says another.Though each point is brief, not all of them are fortune-cookie length. One of the longer entries, for example, describes the purpose of a family constitution; another explains "criteria-based decision-making."Several of Bork's tips will be most valuable as conversation-starters with family members. (Example: "If the family ownership is used in marketing, then it is important for all family members to practice the values the family claims to have.") Others might spark some solitary soul-searching. (From the section on wills: "Don't try to legislate from 'the other side.' Nobody wants to see your bony hand pulling the strings.") Space is provided for readers to jot down notes should one of the points spark an idea.Bork's red book doesn't provide a solution to every problem, nor does it claim to. "This is a little book, not a big one," he writes. But if a pithy phrase will do the trick--or if you're looking for a quick, easy and enjoyable read that will also make you think--you may want to invest a little time to check out theLittle Red Book. --Barbara Spector, EditorFamily BusinessMagazine