FAMILY BUSINESS

For family businesses there are a few more dynamics in play. While most aspects are business as usual, taking into account the family elements is critical for smooth operation.

For my family business clients, here are the key areas I help them out in:

Alignment – Getting all members on the same page. Where differences in expectations, desired outcomes and ways to approach business exists, if these are not verbalized and aligned, conflict will remain. This conflict may or may not be visible but it is there. Our alignment process looks at the needs and wants of all family members and brings them all together in a facilitated session that results in an aligned direction. Once this is achieved, the business is in a strong position to excel.

It is futile to look at growth and improvement strategies if family alignment is not present.

Succession – when looking at the succession path in a family business here are the key factors to be address:

• Next Generation Skill Sets
• Team Perceptions
• Clear Expectations on Roles
• The right transition plan.

How fast and how intense should senior family members step aside. There can be big differences here in the wants of the senior members, the junior members and the needs of the business.

My approach to success for family business is very custom to the client at hand.