About family businesses

Family businesses are special. Whilst they come in all shapes and sizes, they present some unique challenges, some of which are articulated below, to give you some food for thought.

Evolution
Family businesses evolve and periods of transition can be critical -- as a business moves from generation to generation, priorities change, attitudes change and management styles change. We appreciate that the needs of a family business will be very different depending on its stage of evolution.

The founder of a business, for example, may have a different way of doing things and indeed a different vision to that of his or her children. Likewise, further down the line, as the business moves from the second generation to the third, from a sibling partnership to a large network of cousins, new tensions and challenges present themselves. It is at these times of transition that a family business is at its most vulnerable

We believe that tensions and problems associated with transition can be successfully avoided with the right planning and communication. We work with families to put in place clear and robust governance structures, with defined parameters, resolving succession issues and allowing family members to communicate and operate more effectively.

Dilemmas
Dilemmas and paradoxes are inherent in family businesses. In fact, in some ways the tenets that make a family a family and a business a business are diametrically opposed.

A common paradox that we see within family businesses is the simultaneous desire to maintain and respect tradition whilst striving to adapt and progress in response to the changing business environment.

We help family businesses become more successful by learning how to live with these dilemmas and how to use them to their advantage.

Differences
Given the particular quirks of a family business, differences of opinion between members are inevitable; these often go unexpressed and can lead to unresolved frustration bubbling beneath the surface. We believe that acknowledging these differences without letting them create conflict is central to the future success of any family business. Creating a safe setting for difficult discussion goes a long way to resolve these problems.

In our experience, there are, in the main, three kinds of issues that cause difficulties for family businesses: Business, Personalities and Structure.

We think business issues are the easiest of these to solve – if a business isn't working, for example, it could be turned around, or in extremis, could be sold or liquidated 'Personality' and structural issues are more difficult. Experience tells us that structure drives people's behaviour and without the correct one in place businesses can suffer because of the way thepeople act.. Whilst we can’t 'fix' or change people's personalities (nobody can!), we can help you design and implement practical governance structures. These can create the right environment and clarity over things like roles and responsibilities so that people's expectations are managed in a transparent way that promote a better and more harmonious environment.

Whilst we can't wave a magic wand, we can offer something far more useful: bespoke advice and facilitation based on over twenty five years of practical experience.

Planning for the future
Family businesses have a potential competitive advantage. They are dynamic and yet they take the long term view -- whilst they make decisions and act quickly, they are also able to plan for the future without looking for a quick fix. From our experience however, families often don't have a clearly defined shared vision allowing them to harnesses this and speak with one voice

We can help you create a shared vision. Like many family businesses we too take a long term view and want to work with you to realise your ambitions for the future.

Family values
Our experience has shown that values are the glue that keeps families and businesses together. A clear set of strongly aligned values can underpin a culture which not only creates competitive advantage and loyalty within the business, but also ensures the continuity of the family, and the avoidance of disputes and conflicts.

Often the values and ethos of the founder which have made the business successful, are left unarticulated and family members act in accordance with them unconsciously.

We help clients articulate, codify and celebrate their core family values. By doing so, it encourages family unity And its ability to speak with one voice.