In a family business where siblings are partners, managing potential conflicts requires careful attention to five key areas: defined roles, expectations, evaluation, and competencies. Family dynamics can complicate working relationships, so it's essential to approach potential issues with emotional discipline, respect and a willingness to understand each other's perspectives. Fair compensation based on market rates and objective performance, separate from ownership distributions, helps maintain professionalism and company culture. Ultimately, open, non-judgmental communication and a focus on aligning skills with responsibilities can help family business partners navigate challenges and potentially strengthen their relationship.

“The creation of something new is not accomplished by the intellect but by the play instinct acting from inner necessity. The creative mind plays with the objects it loves.”

– Carl Jung

If we assume VUCA is an adversarial environment – hostile to our short and long-term business interests – we bypass our cognitive biases telling us to dismiss what threatens our needs. We assume a posture of response rather than reaction and our approach to risk management switches from defensive to offensive.

Building value in a business includes stopping or mitigating the things that kill value. As a flip-side to the top three value drivers blog, here is a look at the top three value killers.