Six Dimensions
Name the six dimensions for family enterprising
1. Leadership
2. Relationship
3. Vision
4. Strategy
5. Governance
6. Performance
Name two companies that are family legacies
Marriott, Walgreens, Ford, Comcast, Tyson foods, Mars, Wrigley, etc
What do many entrepreneurs face from the work load, sacrificing and just working real hard?
Burnout
What country has the most family owned businesses?
USA
The second assessment and strategy frame for family enterprising addresses the team component of the _____ Model
Timmons Model
What is a company family legacy?
Build long term economic value for generations
What is the name of the book recommended to help better understand wealth in families?
Wealth in Families
For the vast majority of entrepreneurs, how long does it take to build significant net worth?
10-20+ years
Relationship Dimension:
What are effective teams built on?
Healthy Relationships
What company is still 100% owned by family?
Mars
Define harvest goal
What to cut back on or sell in order to gain capital
Who said this quote? "I don’t make movies to make money. I make money to make movies."
Walt Disney
Vision Dimension:
Besides transgenerational, a vision must be ____
What arena is it assumed that family companies cannot play in?
Technology and Telecommunications
Having a ___ and crafting a strategy to achieve it are what separate successful entrepreneurs from the rest of the pack
Harvest Goal
"Distinctive families" can also be known as
f+
Performance Dimension:
What is the purpose of performance dimension?
It's where families clarify whether or not they are really committed to family enterprising
True or False
Family investment funds are pools of family capital that families use for entrepreneurial activities.
True
Define "capital cow"
When the venture throws off more cash for personal use than most entrepreneurs can spend
"Constrictive families" can also be known as
f-