There are many moving parts to your business and family, but keeping up with it all doesn’t have to be so complicated. From succession planning to people management, our experts at The Family Business Institute give you the tools you need to create lasting success in your business, promote harmony in your family, and create a work-life balance that’s healthy and sustainable.
Balance in your interpersonal, operational, and financial strategies is the pathway to long lasting success.
Analyze and Evaluate
Once you have helped us thoroughly analyze and evaluate the nuances of your family and business, we’ll create a plan tailored specifically to maximize the harmony and success in both.
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Solutions We Offer
The most important step in helping a family owned business achieve lasting success is in a thorough determination of where the organization is right now.
Producing a plan and putting it into a binder is not magical; the magic comes in devoting time, people, and other resources to the process of planning and then – and this is critically important – developing a weekly management system built around the strategic plan to produce both results and accountability.
How many managers have you known who, in spite of their formal authority, have been unable to produce results for their teams because of their lack of leadership qualities? Formal positions, titles, or membership in the family which owns the company are no substitutes for developing leaders.
For most family and closely held businesses, succession planning is the toughest and most critical challenge they face. Yet succession planning can also be a great opportunity to maximize opportunities and create a multi-generational institution that embodies the family’s values and mission for generations to come.
Family Governance is a topic that most families are reluctant to address. It covers two broad topics: governance of the business and governance of the family. Most family businesses, especially in the formative years, take on the characteristics of the founder or founding family.
Conflict is a fact of family business life. According to the Family Firm Institute, 20% of family businesses report weekly conflict, another 20% report monthly conflict, and 42% report conflict three to four times per year.
Estate Planning has traditionally been associated with preparing testamentary documents and avoiding estate taxes. These are important items, but they are hardly the only estate issues facing family owned businesses! To properly prepare an estate plan, the practical needs of both the business and the family must take priority: Don’t let the tax tail wag your family business dog!
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