The Challenge of Family Business

1. All the usual business challenges

Performance improvement

  Productivity

Accountability

Building reputation & market share

Effective Communication

Intelligence & business savvy

Guts/courage

PLUS…

2. Family dynamics – people with long, complex histories are working in close proximity.

3. Family considerations – affect roles, performance and peace of mind, and can make objective business decisions challenging.

4. What works in a family may or may not work in a business, and vice versa.

5. Having a close relationship with someone, positive or negative, can thwart business objectivity.

6. Family members who fail to perform adequately, or who don’t share the company’s values, may put the business at risk.

7. State and Federal laws and regulations require that all employees be treated equally and fairly, based on performance and role – not relationship.

8. Exit Strategy Planning presents ownership/authority/role transition issues and priorities unique to each family.

A seasoned, objective business consultant can help clarify what is needed so that each family member can contribute at their highest level, and the business can meet its goals and potential.

Role of Family Business Consultant

1. Look respectfully and carefully at the needs of all involved

2. Clarify unified Vision, Mission, Values, and Goals for the business.

3. Determine how to make the needs of the individual family members work within the business structure of authority, delegation, and accountability.

4. Help business owners to respect family dynamics & relationships while sorting out what needs to be done in the business.

5. Assist the company leadership in managing the “business of the business” to meet all business challenges and goals.

6. Exit Strategy Planning – manage the exit of family business leaders and the family dynamics so that competent, prepared people are placed in control, thus keeping the business viable and sustainable. Accelerated training may be required for an identified, capable family or non-family member to competently take over the helm.

Success Stories

Since 2003, Business Whisperer has worked as a small and mid sized business consultant for family businesses. And, we have achieved remarkable success in helping them move forward to greater success. Contact us for our references and speak directly to our clients whose lives we have changed for the better.