Preserving family culture in the workplace
August 17, 2017 By Joseph Armentano
Companies succeed when leaders value relationships, trust and respect.
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Buy-sell agreements smooth family business transitions
May 3, 2011 By LP Gas
Most family business owners expect their thriving enterprises to transfer to the younger generation with minimal fuss and bother. Reality, though, can be far different. Absent a carefully designed plan, misunderstandings and disputes can turn any business transition into a costly train wreck.
Read More Ray Murray Inc.
July 1, 2008 By LP Gas
Ray Murray Sr. had to quit his job to start Ray Murray Inc (RMI). This decision was a significant one…he had dedicated 25 years to a propane equipment manufacturer. He also had a growing family. But he knew he could do better. Especially in the exceedingly important area of Customer Service.
Read More Nichols’ LP Gas Service
December 1, 2007 By LP Gas
Tom Nichols had little choice. Working in the electronics industry, he had to embrace technology and adapt to change, or the world and his competitors would pass him by.
Read More Financial mistakes in family business
June 1, 2007 By Carl Hughes
Many family owned businesses in this industry do a lot of things very well, yet can blunder terribly when it comes to financial matters. These errors can cost the family significant value and prevent it from achieving the very goals it set out to achieve when the business was started.
Read More Resolving conflict in the family business
May 1, 2007 By Carl Hughes
Sibling rivalries. Father–son power battles. Non-active vs. active shareholder issues. Patriarchs unable to relinquish the reins to the next generation. A family-owned propane company’s conflicts come in all types and variations.
Read More Transitioning the family-owned business
April 1, 2007 By Carl Hughes
Family-owned propane companies are significantly more complex in their organizational dynamics than the traditional mom and pop label often used to characterize them.
Read More Longevity requires mentoring
March 1, 2007 By Carl Hughes
The universal goal of most family-owned companies is to see the business continue long-term and for it to be passed down from generation to generation.
Read More Trends in family-owned businesses
February 1, 2007 By Carl Hughes
Family owned businesses are unique in personality, behavior and culture. They operate with the complexities associated with the three overlapping components of ownership, the business and the family.
Read More In business, all profits are costs
March 1, 2006 By LP Gas
Implications of this redefinition of profits serve a useful purpose in the measurement of a retail propane company’s performance. The first purpose cited above is how we historically view profits — the excess or what’s left over after we have paid our bills. However, in the second point it may be that the profit is not sufficient to replace capital for worn-out equipment.
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