family-business-succession-planning

Family-owned fuel dealers, wholesalers, propane marketers, and service contractors: The holiday season ushers in a unique blend of joy and introspection, particularly for businesses deeply rooted in family ties. Your enterprise isn’t just a business; it’s a family affair. You employ those connected by blood and those who’ve become integral parts of your extended family, far beyond mere financial transactions. However, different expectations often arise within the familial business landscape, especially during the holidays and year-end planning.

Family Business Secret: The Art of the Pause

In moments of tension, conflict, or discomfort, it’s crucial to hit the pause button. Take a moment to breathe deeply—it’s a powerful tool that can alter your perspective, uplift your mood, and provide the mental space needed to navigate challenges. Consider stepping away to a different space, outdoors perhaps, and indulge in ten deep breaths, ensuring your breath fills your entire body. Place your hands on your stomach to guarantee deep, intentional breathing. Focus on slowing down the breath, perhaps inhaling for 4 seconds and exhaling for 5. Gradually extend this to inhaling for 5 seconds and exhaling for 6, creating a calming rhythm.

Navigating Your Locus of Control in the Family Business:

Recognize elements in your environment beyond your control. However, the one aspect you can always govern is yourself—your thoughts, emotions, and how you perceive situations. It’s essential to acknowledge that we can’t dictate the actions, opinions, perceptions, assumptions, or emotions of others. While we can strive to be honest, empathetic, and considerate, the choices others make remain outside our realm of control.

Arrive Grounded To Family & Business Gatherings:

Ensuring you bring your best self to any situation is easier said than done, especially amid the hustle from one business engagement to the next festive gathering. Establish a routine that works for you—a brief meditation, a moment of additional rest, or a brisk walk. Consider it an investment in your mental well-being, helping you arrive at your engagements with a grounded and composed demeanor.

Belief Tables: Moving Beyond Out-dated Family Business Stereotypes

It’s not uncommon to be swayed by others’ opinions or outdated stereotypes that may no longer resonate with who you are. If this resonates with you, create a Belief Table—a visual reminder of your strengths today, counteracting external perceptions. Listen to a quick explanation on creating and maintaining grounded beliefs in the video below.

Integrate “The Four Agreements” Into Your Family & Business:

The transformative principles outlined in this book have the potential to reshape personal, family, and business relationships. Two particularly impactful agreements are refraining from taking things personally and avoiding assumptions. During interactions, we often craft narratives based on what others think. However, since we lack insight into their thoughts, these fabricated stories often lead to unnecessary stress and anxiety over situations that aren’t even real.

For a complimentary copy of the book or to order it from Amazon, please get in touch with kendall@rawlsgroup.com.

Amid holiday-induced anxiety within the family business realm, remember the magic is within reach—it resides in you. Understand what you can control, acknowledge what you can’t, and choose how you wish to present yourself in any situation.

Additional Family Business Holiday Resources:

4 Family Business Secrets for Enjoying the Holidays:



Family Dynamics and Family Governance

Family and Business alignment is hard to find when business issues liven up family dynamics.

However; with proper process, governance policies, and mutual respect built over time, a Family Business can thrive through multiple generations. Click the following links for more drill-down resources on  Family Dynamics and Family Governance.

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We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.