Clockwise from back row, left: Louis Jacobs, Jerry Jacobs, Jeremy Jacobs, Charlie Jacobs Emphasis on teamwork The Jacobs family is putting governance structures in place as they transition to third-generation leadership at their sprawling hospitality enterprise, Delaware North. PLUS • Talking to your kids about wealth • The problem with estate restrictive covenants • Peter Paul Electronics builds for the future fb010214_Cover 12-16 bs.indd 2 12/18/14 3:41 PM STRONG LEADERSHIP. ENGAGED OWNERSHIP. ALIGNED FAMILY. BUILDING A FOUNDATION FOR THE FUTURE. Family enterprises see enhanced results in both business performance and family relationships when they master the following: • Group decision making processes, • Clear understanding of roles and responsibilities, • Proactive management of individual expectations, including around growth, risk, liquidity and profitability, and • Strong communication among shareholders. This foundation frees leadership to focus on strategy and success, and creates accountability to ensure that the family’s vision is achieved. For twenty years, The Family Business Consulting Group has helped business owning families plan for long-term success. From next generation leadership development to governance and ownership issues, our consultants provide critical insights, advice and facilitation. To speak with Drew Mendoza, Managing Principal, Helping family businesses prosper across generations.® call (773) 604-5005 or email
[email protected]. There is absolutely no obligation. C THE FAMILY BUSINES S CONSULTING GROUP, INC. and FBCG are registered trademark s O P N U and the FBCG logo is a trademark , of The Family Business Consulting Group, Inc. SU RO LTING G www.thefbcg.com FBCG_091014.indd 2 8/29/14 10:27 AM FROM THE EDITOR A kid’s view of wealth n this issue’s Toolbox column, I review a book entitled The Voice of the Rising Generation: Family Wealth and Wisdom, by James J.