I’ve spent some time looking back on a half-century career of working with families in business, and I see that, when those involved realized the overall impact of family businesses in global terms, then our consulting and support profession really gained depth and structure.
It’s always so stimulating to get together with like-minded people who share common interests and to hear like-minded people who maybe have other views of topics that I feel strongly about. Our profession should be about learning and sharing, and about meeting new players and greeting old friends and colleagues.
What I want to say is that in my experience, much of the research is focused on what conditions do or do not exist in family. I believe there should be more focus on what actions might be taken by family business consultants to improve overall operations. That’s always been my motivator in working with the over 500 families during my 50- year career. “I hear you. I see your issues. Now let’s do something to change them.”
In early 2018, in the deep winter of the Rocky Mountains, I sat down to write about what I’ve done for a living for the last 50 years. For the last 5 decades I have worked to help families in business grow, prosper, stay together, keep the love, and pass the torch when the time comes. I acknowledge it is time for me to take what I have learned over my years in family business consulting and make it available in an online course. Re-Imagining Relationships For Families In Business takes the learner through what I know to be the Concepts, Methods, and Techniques That Can Work Miracles. My online course includes not only what I have learned first-hand from all my years of work, but it also includes supporting research to help understand why things may happen the way they do, and how to make lasting changes to prevent future obstacles.
David Bork, renowned Consultant of Family Business Matters, shares insight on how to build trust within a family in order to improve the success of the family business. Without trust, success of a family business will be difficult to achieve. Check out "Who Do You Trust?" from David Bork and the Family Business Matters Consulting Team today!
Family business structure and the concept of adapting and evolving applies to family-owned business. When creating solutions for a family business, the first step is to analyze the functions that need to take place to make the business work. Family business structure and efficiency can ultimately lead to higher profitability.
There are two types of family business nepotism - the bad kind and the good kind. The good kind allows business owners to take advantage of relationships with respected employees and colleagues to help find and hire employees with a similar work ethic and values. This kind of nepotism can actually help a business.
There are advantages to nepotism and there are disadvantages. The good kind of nepotism takes advantage of relationships with respected employees and colleagues to help find and hire employees with similar traits. Good nepotism has worked successfully for many family businesses and can foster an environment where employees feel that the employer really cares about them.
During the Family Firm Institute's (FFI)25th Annual Conference in Boston, MA, David Bork was invited by Professor Claudio Muller to speak to his class in Santiago, Chile. With 100 people in attendance, Bork presented on several of the fundamental principles of Family business, including family business education, as well as topics covered in his book The Little Red Book of Family Business.