Family Business Balance

Juggling the diversity of expectations, relationships, and motivations in a family business can feel like balancing spinning plates in the air.  First, there are family perspectives from those who have the most history and believe they know you best.  Then there are the business perspectives of long-term loyal employees who witnessed your maturity from potentially a young age to where you are today, either thinking about joining the business, entering the business, or having had a number of years in the business.  Both family and business perspectives are generally shaded in some way by stereotypes, relational baggage, the belief of nepotism, or fear of being replaced.  With the family and business plates spinning in the family-business-succession-planningair, it becomes very easy to overlook individuals, or your motivations, perspectives, and goals.

The family business can be a beautiful environment of collaboration, creativity, and opportunity for those we refer to as “blood family” and your extended community of family.  However, anything worth having takes work to effectively and successfully juggle all of the spinning plates of expectations.  Without a commitment to personal development, nurturing relationships, and clear expectations, a family business environment can quickly turn into a kicked hornet’s nest of havoc.

Our series focused on “Family Business Balance” provides insight into the various perspectives influencing the family business environment so all those associated can thrive and achieve their personal, family, and business goals.  Remember, there is no business gain worth a family loss.

Transfer Daily Management & Remain in Control

2022-10-11T11:16:57-05:00By |Family Business Balance, Multi-Unit Franchising, Video|

Successful family businesses have the power to provide for many lifestyles. Owner(s) and their families, key leaders and their families, employees, and the community it serves. Many owners have the vision to transfer out of daily operations and want the business to remain under family ownership. There are many strategies [...]

Is a Temporary Successor Right For You?

2022-10-11T11:11:57-05:00By |Distribution & Logistics, Family Business Balance, Video|

The value of the business is directly related to the reliability of future profits. Potential buyers, banks, investors, top talent, and strategic relationships all care about the sustainability of business performance. A temporary, or as we call it, a "Contingent Successor," provides a business owner and their family a strategy [...]

Earning Respect in the Family Business

2022-03-24T13:26:37-05:00By |Automotive, Family Business Balance, Video|

A successful family business can provide opportunities to all who are associated with the owners or viewed as family. History has proven, the odds of family business success through multiple generations dwindles with every ownership transition. However; where many family businesses have failed, there have also been many family businesses [...]

Four Secrets to Family Business Holiday Success

2022-11-14T15:39:18-06:00By |Agriculture, Automotive, Construction, Distribution & Logistics, Family Business Balance, Manufacturing, Multi-Unit Franchising, Professional Services, Succession Blog|

When it comes to the season of family, otherwise known as “The Holidays” it is common to experience fear and anxiety. We all want it to be like the best holiday movies, but the reality isn't a hallmark movie. There is a secret to creating a happy holiday, or season [...]

Family Business: Avoiding the Kicked Hornets Nest

2022-02-22T15:27:44-06:00By |Construction, Family Business Balance, Succession Blog|

A hornets’ nest or even a beehive from afar appears to buzz with activity. It’s quite interesting to watch nature in action, which ironically is very similar to families and working in a family business. There are roles each individual plays and a set of standard operating procedures that allow [...]

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