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As Seen in Multi-Unit Franchisee Report - Creating Harmony in Sibling Partnerships

As Seen in Multi-Unit Franchisee Report - Creating Harmony in Sibling Partnerships

Sibling partnerships create a dynamic environment - especially when managing relationships in a highly competitive multi-unit franchisee organization. Everything can feel personal because nothing can be "just business."

Read the complete article on the Multi-Unit Franchisee Report website

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What's The Purpose Of Your Success?

Succession is dependent upon success. Therefore, mediocrity is not a succession option. In order for you to have confidence your successors can survive the predictable distractions, issues and problems associated with the transfer of ownership and management control your business must perform above benchmark to assure that there is adequate margin for a dip in productivity.

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Are You Missing Out on the Successor Right In Front of You?

 "Loyd, thank you for coming to see me. Please sit down," Mr. John Doe, the elderly but fit gentleman, offered as we settled into his office. Settling back into his chair, he continued. "My accountant attended one of your succession planning seminars and suggested we talk. We have three dealerships. I have a son who is pretending to run our stores. I also have a daughter and a son-in-law who work here. I own 35% but 51% of the voting stock. I don't know what to do," he continued apparently relieved to have someone to speak to. "My son will not listen to me. And unfortunately he is the only capable family member. I doubt he works 40 hours a week; he says he works from home. I know he trains for marathons, coaches his son’s baseball team and never misses a school meeting. Meanwhile, the businesses underperform. When I threaten to fire him he just smiles and says do what you have to do. My son-in-law wants me to appoint him the Dealer but he's had some issues with drugs," he offered with a conciliatory shrug of the shoulders. 

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Are You Overpaying Your Children? Be Aware of the Potential Long-term Impact

So, in my first two posts, How "Over Giving" to your Kids Can Impact Future Succession Goals, and Did Your Child Earn That Title? The Impact of Giving What One Doesn't Deserve, on this subject I have discussed how a past pattern of giving can have a negative impact on the eventual gifting of business assets.  The previous posts focused on two common areas where business owners "give" to their children, which can create havoc on the business, successor development and family dynamics - giving your child a job or a title without earning them. 

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Did Your Child Earn That Title? The Impact of Giving What One Doesn't Deserve

In my last post How "Over Giving" to your Kids Can Impact Future Succession Goals, I discussed how past gifting behavior can impact and create unnecessary challenges the transfer of business assets to your children. A common first thing given to children, which sets a tone for future gifts is a job, I recommend for you, your business' sake and for the development of your children, they should earn it.

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Family and Business = Harmony or Fireworks?

A dealer recently told me, “I have one brother who is my best friend and one who I don’t talk with, all because of business and financial issues.” Tragic yes, but not uncommon. Having worked with auto dealers and their families for 27 years, I have witnessed situation after situation in which the family business has resulted in lots of family heartache. Fortunately that does not have to be the end result and there are many examples of family dealerships being run successfully by harmonious family members. So what are the landmines that you need to avoid?

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Family Business Harmony Best Practices

As a business succession planner I believe family harmony is a component of the Succession Matrix®. On a day to day basis I deal with the good, the bad, and the ugly of family business. The good gives me encouragement that family business succession is worth the brain damage and affirmation that there is no such thing as a perfect family. The bad provides me a sense of job security and confirmation that all family issues can be resolved if the parties will just remain engaged. And the ugly makes me question my career choice and acknowledge that the problems on the have side can be worse than those on the have-not. Based upon my 40 years or so experience within this Matrix, I have concluded that facts are stranger than fiction when it comes to inter-family dynamics and no matter how bad circumstances are within a family it can always get worse. Furthermore, I have had an opportunity over my career to identify best practices of families who relatively speaking have achieved family harmony.  

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Family Business Harmony – DNA Doesn’t Always Cut It

As a family business succession planner I am commonly asked

  • How do I help families find harmony? - And then more specifically;
  • How do I convert skeptical, envious, petty, self serving, back-biters into unified families? And;
  • How do I help them find agreement on goals and processes that will help achieve a mutually agreeable mission?

My response is that I don’t deserve too much credit because family harmony issues on their lightest days are far bigger than this little guy. What I can really take credit for is being a diehard optimist about the potential of family and not knowing when to give up. As you would expect, like most conundrums, there are multiple answers to questions about family harmony. I’ll take a shot at shedding some light on how some families find harmony and others just remain in a quagmire of resentment, angst and anxiety.

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Remembering to Forget - The Secret to Building Family Business Harmony

My final thought on why some families are more effective at achieving harmony and unity is that successful families dwell more in the present than in the past. As even the presumed role model families will admit, it is not always hunky dory on the family front. The fundamental family motivation is “the good of the present outweighs the bad of the past”. My encouragement and advice to clients seeking family harmony and unity is to “remember to forget.” You have choices. First, do I want this/these relationship(s); do I want to have family in more than name only? If yes, you have to remember to forget the pain of the past as it can and will totally pollute the relationship prospects of the future. Being practical, I am not talking about forgetting that your brother-in-law is a convicted bank robber or that your son is a struggling drug addict. I am talking about the personal stereotyping and resentment that if allowed to taint every personal interaction will build and sustain insurmountable boulders in the pathway to strong interdependent families.

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