Family Business

Rappahannock Cellars – a Family Winery

Posted by on Oct 11, 2018 in Family Business, Wine Business | 0 comments

Rappahannock Cellars – a Family Winery

We visited Rappahannock Cellars for the third time Saturday. Located in Huntly, Virginia, an unincorporated community in Rappahannock County, Virginia, Rappahannock Cellars is a Virginia winery opened in 2000 by the Delmare family. We stayed with my brother-in-law in Front Royal, Virginia for the Columbus Day weekend. I made the short trip to Huntly from Front Royal on my bicycle, always a wonderful way to start an adventure. My wife, daughter, brother-in-law, mother-in-law, and a couple of very good friends from Maryland met me at the winery for our visit. Mostly cloudy skies and pleasant temperatures made for a comfortable day. The Setting The northern tip of...

Read More

Family – From Eight Weeks to Eight Decades

Posted by on Sep 17, 2018 in Family Business, Personal Freedom | 1 comment

We celebrated my father’s 80th birthday last weekend with family and friends at the gorgeous Bluefield Inn. All three of his sons were there as were his daughter in-laws and five grandchildren. Tears of joy were shed when we met the newest additions to our family, his beautiful twin great-granddaughters, my great-nieces. The twins are only eight weeks old. There was a striking comparison of a life well lived for eight decades with the promise of lives that lay ahead. Basking in the love that swirled in the air, the celebration reminded me of my passion for family. Not only biological family, but the people that drift in and out of our lives as we journey through the...

Read More

Effective Financial Management for your Family-Owned Business

Posted by on Dec 19, 2014 in Family Business, Financial Freedom, Transition Planning | 0 comments

Effective Financial Management for your Family-Owned Business

Financial management is one of those phrases that can feel irrelevant to your small or family-owned business. What does it actually mean? Does it involve hiring a Chief Financial Officer or holding long board meetings? When we talk about financial management at Henry H Jones, CPA, what we’re helping you understand is far more than knowing what accounting records you should keep, or even the current status of your finances. Good financial management means that you have a clear and up-to-date view on how your business is performing in all the critical areas. This is not something that is left to your bookkeeper, or even to your accountant! It’s your responsibility as...

Read More

How to Hire Outside the Family for Your Family Business

Posted by on Nov 25, 2014 in Family Business | Comments Off on How to Hire Outside the Family for Your Family Business

It can be difficult to comprehend your beloved small business in the hands of someone outside the family. But consider some reasons it might be necessary to take that step: Death or illness Age gap between current leadership and willing-but-not-yet-ready second generation Fast growth in company, resulting in great need for additional staff Lack of expertise in a critical area The hiring process for any company – especially if it’s hiring a leader or upper management – can be complex and challenging. The same could be said for a family business, with even a little bit more emphasis on those things. As with all succession planning, the key is to do it...

Read More

Pros and cons of running a family business in a struggling economy

Posted by on Sep 4, 2014 in Family Business, Financial Freedom | 0 comments

“Coming together is a beginning; keeping together is progress; working together is success.”  Henry Ford In the midst of the doom and gloom of the current economy, family businesses have taken off, whether fueled by desperation or a dream.  And the struggle against the economy, to make a living for a family with a family, can be a difficult one. Perhaps it seems foolish to expound on pros and cons of running a family business in a struggling economy, since if you’re in one it is likely you will stay with it; and if you are not, it is unlikely you will start one up … but stranger things have happened. We’d like to encourage you with some pros and cons...

Read More

How to Start Your Family Business Council

Posted by on Jun 19, 2014 in Family Business | 0 comments

Last week we talked about some reasons that your family business might need a Family Business Council.  This week we’ve put together some information about how to get your Family Business Council up and running!  Using these tools, combined with a little expertise from our firm, you will be in tip top shape in no time. First, let’s just summarize a few facts about Family Business Councils: A council is advisory.  It isn’t in place to drive business or create policy.  It exists to give family members the opportunity they need to share their ideas and concerns, and then pass those on to the board of directors. It’s a democracy.  It is a fair...

Read More