I once worked with a family business where Mum, Dad and two of their children worked in the business. It was clear that they all loved each other deep down & had a passion for the business with very similar visions for what it could look like, but over the years, a deep resentment had settled in. And family business coaching and consulting were very much needed.
Where To Begin
I thought I was going to be doing a Vision setting day with them, but instead, I uncovered years of misunderstanding & miscommunication, which had them thinking they were all on different pages.
Before we could even start working on the business (which I think is the easy stuff), we had to work through where it had all gone wrong.
This meant that we created a family balance sheet. A record of where each person thought they had been ‘wronged’ or were ‘owed’ & a picture of what they all thought they had brought to the table & the family business.
By doing this, we quickly uncovered a lot of the issues & were able to start dealing with them.
And that’s what I love about family business coaching & consulting. There’s so much love & yet also so many facets & complexities to it.
Where do they all sit in the family & what is the vision for the family? What ownership do they have of the business & is it fair & equitable & what role (if any) do they play, or more importantly, should they play in the family business?
If there’s any confusion or miscommunication around any of these, it can not only seriously hamper the business, but it can also make family BBQs & get-togethers a nightmare!
I’m pleased to report that working with this family business; we were able to resolve all of these issues, get clear on what each person could & should play in the business (based on what the business needed & then what skills they could offer) & get 100% on the same page in terms of vision.
And the business took off!
Why It Works
That was before I even did my university study & practice to become an accredited family business advisor. I went on gut instinct & used my years of experience working in family businesses myself, along with my understating of the human psyche, to try to find a solution.
These days I have more tools in my toolbox, having studied at University, becoming an accredited family business advisor & joined the Family Business Association of New Zealand, meaning I can work more confidently in family business coaching and consulting.
I’m not a financial planner or wealth manager, so I can’t help with the legal structures for family businesses, but what I do know is how families work and the issues they come up against. And I know how to get them all 100% on the same page with their vision, help them to instil discipline & accountability to deliver every day on that plan & the tools to have them working as a healthy & cohesive team, fighting for the greater good of the business & the family.
I can put you in contact with one of our trusted partners to help you with the legal & financial stuff – they share the same values & also want the best for you.
My speciality is shining a spotlight on the issues in the business so that we can resolve them at their root cause, uncovering & dealing with the elephants in the room & preventing sacred cows.
It’s a simple, proven system that I use called EOS (The Entrepreneurial Operating System) that, combined with my family business coaching and consulting skills, makes for a great way to get families back together again, in both business & life.
I’m going to be honest – this is not for the faint-hearted. However, my passion is making sure that your family business & your family not only survive but thrive. I want you to love what you are doing, working with people you love & making the most of your own unique talents, making a huge difference & being paid fairly whilst having time to pursue other passions.
And most importantly, I want you to look forward to family gatherings & for you all to be creating wealth for the family in your business or businesses.
If family business coaching and consulting is something you would like to explore, then feel free to read more – please visit – https://www.businessaction.co.nz/family-business-advisor/
Written by Debra Chantry-Taylor – Founder of Business Action, Accredited Family Business Advisor, EOS Worldwide Licensee, EOS Implementer.