Family Business Strategies for Success - Hire an Expert!
Updated: Oct 27, 2020
Family Business Strategies for Success
Does your family-owned business need a family business coach?
Family business coaches are skilled at helping business families navigate through the complex issues that arise when family dynamics combine with management, ownership, and economic interests.
Family business coaches bring an experienced and independent perspective, and help families defeat impasses and develop unique solutions that consider both family and business interests.
We bring a broad skill set in facilitation, negotiation, business, and family dynamics. We can help business families consider new ideas, build consensus and implement improvements.
The goal of family business coaching and advising is to facilitate a better understanding between family stakeholders and the resources they share, so they can forge alignment and work together to advance shared interests for mutual benefit.
The services of a trained and experienced family business coach improves business success and also protects family relationships.
If you are unsure if a family business coach can help your business family, consider these top reasons why families in business together trust us:
1. Transition and Succession Planning
Transitioning a family-owned business to the next generation, or adapting to changes as families grow and evolve is challenging and requires considering how management, ownership, and the future vision of the family business need to change to keep the family business healthy and maintain family unity.
We help family businesses design and implement transition strategies to ensure a seamless transition of family business management and ownership.
2. Conflict Resolution
Family conflict is a common reason that business families reach out to Alberta Business Builders.
Family businesses can be highly complex, and therefore the opportunity for conflict to exist is high.
Naturally occurring differences in goals and values among family members can lead to continuous friction, discomfort, and escalating conflict if left unaddressed.
We specialize in helping families work through situations of conflict.
We also offer programs on managing conflict, communication and family business governance so families are better able to recognize growing conflict and learn how to resolve conflict in a positive way.
3. Getting “Unstuck”
In an effort to sidestep confrontation and conflict, family members may avoid sensitive or emotionally charged issues.
An avoidance of the tough issues can cause the family and the business to get stuck, and reduces the businesses ability to move forward decisively.
This leads to missed business opportunity and often also damages relationships among family members over time.
We help your family business create a safe environment through which difficult business issues can be resolved in a positive manner.
4. Leadership Development
Does the next generation have what it takes to run the family business?
Do you trust them to do a good job?
Leadership is critical if the family business hopes to continue.
We train next gen leaders so they can carry the family business forward with a high degree of ability and success.
5. Preparing for a Crisis
Most crisis in life to not give us much time to get prepared. Crisis have a way of just showing up and turning our world upside down.
Crisis can endanger the family business.
We help business families prepare for the unexpected so that the family business can survive and even thrive.
6. Family Business Governance
Well-structured family business governance is an essential part of family business success.
We help stakeholders understand how family business governance is good for everyone. And we help you design, implement, and practice good family governance.
7. Exit Strategies
Selling the family business can seem like crossing a mine field.
Is unresolved conflict forcing the sale? Is the market right to sell now? With no heir apparent, is selling the only course of action?
We help you navigate the complexities that come with creating your exit strategy from the family business. so that you, your family and the family business realize the best outcome.
8. Facilitation of Family Meetings
Communication is key to any family enterprise.
To have positive communication, family businesses need to provide a forum where family members can have positive dialogue in a controlled setting.
Family meetings and open communication improve transparency and build trust.
We understand family dynamics and we can help you design and implement a communication plan for your family business.
9. Family Employee Reviews
Employee accountability and performance are important.
But how do you review family members in a family business?
How is accountability created between family members that are also employees?
The process of reviewing family employees can be very different from the review of non-family employees.
Using a family business consultant can help insulate family members from having to evaluate other family members.
As a non-bias third party, we can complete fair and accurate employee evaluations.
These are just some of the many reasons business families ask us to help.
All families want to get along, and be successful together.
Sometimes its just hard to get there.
We help you bridge the gap from where you are today, to where you want to be.
For more information about family business coaching and consulting, please visit: www.abbusinessbuilders.ca or email us at firstname.lastname@example.org