TCG Becomes a 2nd Generation Family Business

Father and son Paul and David Karofsky, have teamed up to launch the next generation of Transition Consulting Group, Ltd, a Massachusetts- and Florida-based firm that has enjoyed a long reputation as a leading consultancy to a diverse array of family and closely-held businesses.

The Karofsky team now becomes one of less than a handful of parent-offspring firms and possibly the only father-son family business consulting to other business families. Since its inception in 1991, Transition Consulting Group has been headed by Paul Karofsky – who has achieved broad respect across all sectors of the family business field from a track record as a go-to resource both nationally and globally. His son, David, brings to TCG a counseling and corporate consulting background that includes 15 years working with start-ups to a Fortune 500.  Read more.

TCG Extends Partnership with Northeastern University

In 1991, Joseph Blum, Tom Davidow and Richard Narva captained the launch of Northeastern University’s Center for Family Business modeled after the Center at Kennesaw State University which was founded by Craig Aronoff. Paul Karofsky was asked to consult to Northeastern’s launch and quickly became the Center’s first Executive Director. He implemented a series of peer forum groups modeled after his own Young Presidents’ Organization experience that have been replicated at other colleges and universities worldwide. Paul’s special passion has been the Center’s Leadership Development Forum – a peer group for younger generation members who are current and emerging leaders in their family enterprises. When Paul retired as Executive Director of the Center in 2004, the then Dean of the College of Business, Ira Weiss, started the endowment of the Center’s Leadership Development Forum and named it in Paul’s honor.  Today, as Paul continues to facilitate the Forum with Ted Clark, The Center’s current Executive Director, Ted and Paul are joined by Paul’s son, David (Northeastern MBA ’01).  David and Paul will also be guest lecturing at Northeastern’s first undergraduate Family Business  Management course which will be taught by Professor Matthew Allen.  As David brings the Generation X perspective to the world of family enterprise education, this extends TCG’s partnership with Northeastern.  Learn more.

So You’re in the Family Business…

Each issue, TCG will feature an article from the series “So You’re in the Family Business” which is a collection of short articles based on real happenings in real family businesses.  Individual and company names have been altered to respect privacy. The complete set of
article can be accessed here.

Begin at the Beginning…

This month features the first article titled “Begin at the Beginning” in which Rick and his father have a conflict about the way to perform a project.  This article sets the stage for future articles with a statistical base of family business failures and a detailing of the common issues of conflict in family businesses. Click here to read the full article.