Try Using Values. Getting in Command With Values
No one with any business experience would dispute that having clear values is at the core of any business success. But when it comes to making a family business work, clear values are especially key.
Values Are the Key
I’ve been working with family-owned businesses for over XX years. In my experience, it really is great when the family values that were present in the home where the children grew up, align with the business values. This – without a doubt – makes a family business successful.
Values such as hard work, earned rewards, integrity, honesty, and respect; transfer well from the home setting to the business setting. It is clear to me that when those sorts of values are consistently embedded in the family dynamics, it is much easier to align family members – and non-family members – around those values within a business setting.
What Happens When Values Are NOT Defined or Demonstrated
Unfortunately, I have also observed that where there is a strong sense of uncertainty about the values driving the operations of the business (or a pattern of inconsistency regarding what values apply or when they apply) aligning family and/or non-family team members around common goals is much more difficult. I have witnessed the heartache and poor results as a result of these conditions.
I can attest that when there is a culture of natural respect for team members that exhibit positive work ethics and values, the business becomes stronger, more resilient and successful – and wields greater command for the destinies of the company and for one and all. Happily, my experience tells me that company cultures can change, grow and get better.
Exactly HOW a Family Business Can Benefit From An Outsider
My y family clients tell me, it is often necessary for family businesses to get the support of an objective, unrelated, outside advisor/consultant to help sort through what is working and what is not working. The ourside advisor helps provide a stable and unbiased perspective, helping immeasurably to move family business leaders to clarify values that will work for them and their company.
With the help of an experienced third party-advisor, I have witnessed family leaders finally being able to make rationale, conscious decisions that recognize and throw out things that don’t work and applify those that do (perceptions, habits, attitudes, etc.). The result is a more solid alignment among ALL team members around things that DO work.
The Ultimate Goal: When Success Transcends Profitability
Working with a broken family business is an adventure and a journey that requires courage and persistence from all parties. Recognizing family values, tossing out what does not work, and applifying what does, builds a greater command for the successful destinies of the company, and for all employees.
Frankly, when it comes to building values in a family business, the rewards and successes actually transcend profitability. Relationships – not just businesses – are strengthened.
That’s why I love this work.