family-business-succession-planning

When a family member enters the business, the emotional environment shifts. Family Business, by nature, is an oxymoron. Assuming a generally healthy family dynamic, family is a place for love and acceptance while and business an environment of what have you done for me lately.

So, even the most balanced families find themselves struggling with “petty crap” from what appears to be never-ending sources by mixing family and business.

If this kind of crap is becoming a major downer, Loyd Rawls suggests to re-connect with your WHY:

1. WHY you took on the challenge of allowing family members to be employed

2. WHY you care and thought about “seeking succession” rather than just selling out

Sit down and write out your purpose and vision for why you chose to be a franchise owner, operate a business, involve family members, and review your long-term succession goals.

Be honest about WHY you are or want to be willing to withstand a season of petty crap – if you don’t have a good reason or little hope that your family could participate as a member of a succession team, rethink what you are doing.

Hopefully, through clearly identifying and communicating your driving purpose for the business, you will find clarity, direction, and encouragement to reaffirm that the “petty crap” you are enduring is potentially worth the long-term reward.

Click the following link to read the complete article on the Franchising.com website: The Petty Crap of a Family Business

Read the article and then reach out to us to get some insights into your own situation. A few moments with us will provide you insight and clarity for your next steps forward. Contact Us




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.