The Family Business Consulting Group is redefining how multigenerational family businesses build trust, tackle transitions, and plan for the future.
CHICAGO, IL / ACCESS Newswire / August 19, 2025 / For family businesses, success is about more than the bottom line. Entrepreneurial families strive to build harmony and legacy along with business results. "It takes more than a strategic plan," says Kristi Daeda, president and CEO office Family Business Consulting Group (FBCG). "These families thrive because they're engaged, aligned, and creating something that's theirs."
That philosophy has shaped FBCG's approach for more than 30 years. Since 1994, the firm has worked with over 3,000 family companies and offices across 70 countries, supporting leadership transitions, succession planning, governance design, and the interpersonal dynamics that come from running a business with relatives.
While every story is different, challenges often follow familiar patterns. Family dynamics can spill into business operations, stalling progress. Siblings may struggle to communicate, or a key leader underperforms but no one feels comfortable speaking up. In other cases, families miss time-sensitive opportunities because they lack a transparent decision-making process. Misaligned goals or expectations lead to conflict.
One of the most common challenges FBCG sees is succession, a critical opportunity, and risk, for historic firms. "An effective successor must bring skills and leadership for both now and the future. They must also champion the family's values and commit to building trust and credibility," says Daeda. Instead of following a rigid process, FBCG approaches business decisions through a human lens to achieve clarity and purpose while building an energized family ownership group.
Inclusive conversations led by consultants with deep expertise in finance, governance, leadership, and family systems define priorities and build alignment. Reviews of operating agreements, strategic plans, and financials give stakeholders a broader view of how decisions connect to long-term goals. These conversations take time, but they prepare families to make decisions thoughtfully and together, laying the foundation for lasting impact.
Beyond the Business Plan
Like the multigenerational families it serves, FBCG takes a long-term view of family business success. "Family businesses are so much more than just companies," says Daeda. "They're cornerstones of their communities. They think in generations, not quarters, and often outperform during uncertain times because of that extended perspective."
That advantage is influenced by their approach to growth, risk, and investment, and how they attract and retain valued team members. Many families share a stewardship mindset and steady commitment to their values that better prepare them to weather economic storms, as well as seize new opportunities. But the firm emphasizes that resilience alone doesn't guarantee sustained success. It takes common goals, intentional leadership, and defined roles and responsibilities for family members, whether or not they work in the business.
Although family enterprises have a built-in edge, continuous strength requires more than preserving the status quo. Daeda encourages families to plan ahead, investing time and resources in engaging rising owners and leaders and securing expertise and advice for the future.
"Ultimately, the strength of these organizations lies in staying grounded in shared values while working toward a common vision," says Daeda. "Families will continue to encounter new opportunities for investment, entrepreneurship, and impact, but the clearer they are about what they want to achieve and the more prepared they are to act, the greater their legacy."
Contact Information
Karen King
Marketing Communications Manager
kking@thefbcg.com
SOURCE: The Family Business Consulting Group
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/it%e2%80%99s-bigger-than-the-business-1051959
