Next Generation

By Margaret Wilson, Tandem Partners & Ann Quinn, Quinn Strategy Group Sometimes succession is truly a surprise. Other times it only feels like one. The difference matters, because what you do next and what you should have done before are not the same. There are moments...

Several weeks ago, my spouse and I found ourselves unexpectedly stranded on one side of the Mackinac Bridge. A severe ice storm had whipped through Northern Michigan, and massive sheets of ice were falling from the bridge’s cables and towers, making it unsafe to...

By Margaret Wilson, Tandem Partners & Ann Quinn, Quinn Strategy Group It has been suggested that many family business problems stem from the inherent conflict between the distinct, yet overlapping parts of the family business system. Each part of the family business system – business,...

Every transition marks both an ending and a beginning. Whether it’s stepping into a leadership role, passing the torch to the next generation, or navigating the complexities of ownership transfer, transitions invite us to pause, reassess, and recalibrate. But they also come with unique challenges:...

If you’re feeling burned out in the family business, you’re not alone. It can happen when you’re feeling overwhelmed by business problems or prolonged tension in a relationship or any number of reasons. Whatever the cause, burnout doesn’t happen overnight, and it’s practically impossible...

The longest suspension bridge may not be the Mackinac or the Golden Gate, but rather the span between generations in a family business. More often than not, the emphasis in succession planning begins with the senior generation and their pressing concerns. When do they...

Gates had Buffett, Oprah had Maya, and Dylan had Guthrie.  In your world, who do the next generation of leaders look up to? Many family-owned companies say they expect to transfer leadership to the next generation, yet only a small percentage have a plan...

When facing leadership transitions – whether in a family business, a non-profit organization, or any other type of enterprise – one of the most pressing questions is: Can this team take the helm? This isn’t just about managing day-to-day operations; it’s about whether the...

Part 4 of the Series: The Family Business Planning Roadmap By Margaret Wilson, Tandem Partners & Ann Quinn, Quinn Strategy Group In Part 1 of our series on integrated planning for family-owned businesses explored the unique challenges they face and why they require a different approach...

“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” - Mark Twain In the world of family business, it seems that some generally accepted axioms are out of date, yet still frequently quoted....

Part 2 of the Series: The Family Business Planning Roadmap By Margaret Wilson, Tandem Partners & Ann Quinn, Quinn Strategy Group Any discussion of planning for a family business begins with an obvious but complicated truth: Family businesses are different from other types of organizations. Families...

As Mother’s Day approaches, we celebrate the unique relationship between mothers and daughters in business. Undoubtedly, the connection between a mother and daughter can be a strong bond. Mothers are often there to advise during difficult times, while daughters represent the ambitions of the...

Recently, news reached us of a local family-owned company’s closure after 70 years in business. While the specifics behind their decision are unknown, it served as a reminder that at some point in their life cycle, all family businesses come to a crossroads and...

The people practices that brought your organization to where it is today, may not be enough to propel you forward into the future. That’s certainly true of succession strategy, where the traditional approach of preparing people for specific roles is like trying to use...

By Margaret Wilson, Tandem Partners & Ann Quinn, Quinn Strategy Group There are times in every organization’s lifecycle when everything hums along without a bump in the road. At moments like this, it can be tempting to take your eye off strategy and simply enjoy...

Did you know that by 2026, Fortune 500 companies – the iconic list of largest companies in the U.S. by revenue – are projected to maintain their status for an average of only 14 years? That duration is less than half what it was...

As the final season of the hit series “Succession” unfolds, fans of the Roy family’s power struggles will be glued to their sets. While the show may be an overly dramatic portrayal of a family enterprise, it serves as a reminder that the critical...

Running an early stage business often poses the classic “can’t see the forest for the trees” dilemma. You’re so focused on the next project, the next sale or the next new hire that you may not see the larger picture of where your business...

Recently, Margaret Wilson appeared on Java with Jim Ries, Director of Business Development at Offit | Kurman to discuss the origin of Tandem Partners and its dedication to helping families, owners and businesses in transition....

When it comes to succession, it’s usually a senior leader who initiates and spearheads the transition process. In a previous blog (Succession Planning: Why It Matters, Matters), we explored how important it is for that leader to have a strong and focused rationale for...

During the mid-1930s, Bud Abbott and Lou Costello introduced their famous vaudeville comedy sketch “Who’s on First?” about a fictitious baseball team. As they try to communicate with each other about the various players, the conversation becomes more and more confusing. Toward the end...

In Greek mythology, there’s only one figure whose character matures over time: Telemachus, son of Odysseus and Penelope, immortalized in Homer’s epic poem the Odyssey. The poem mainly centers on Odysseus and his long journey home after the fall of Troy. During his absence,...