Collaboration: Agreement On Methods And On What “Privacy” Means

After 20 years of being friends and being familiar with each other’s work, Dr. Jaffe and I were able to use our particular strengths to help solve some thorny issues, without stepping on each other’s toes or working at cross purposes. We shared information and we innovated together because we had agreed on our methods and we understood the enormity of the need for absolute confidentiality.

Stop The Family Argument By Deciding How To Order Dinner

Everyone has heard about arguments in Family Business.  Relatives in the business are all together to make key decisions. Two are deadlocked in a toe-to-toe shout-down with one saying, “I’m right!” and the other resolutely insisting “No, I’m right!” Perhaps yet another is trying to jump in with “Look at my idea!” The meeting agenda has dissolved into a process of Ready! Fire! Aim!

There is a tried and true way to end this, and here is an example. We are a group of five colleagues working together. We need to have dinner but would like to continue our work. One colleague asks the others, “What does everyone want to eat?” Instead of naming restaurants, they listened to all comments and agreed on the following:

  1. Must be suitable to continue our conversation over dinner, so that rules out a noisy place.
  2. Must be within 3 miles radius, so we don’t lose momentum in our progress.
  3. Must be able to seat five guests at 7 p.m., since that time suits everyone present.
  4. Must have selections on the menu that will satisfy one person who is mostly vegetarian.

Notice that there is not high “ownership” for any of the criteria.  After we do a quick survey of restaurants nearby, soon one or two stand out.

The operative word is ownership. So often in family business differences are grounded in whose idea is being discussed rather than what is the idea. In the Little Red Book of Family Business it says, “An Idea doesn’t care who has it.  It (the idea) has no opinion on the bearer thereof.” It is preferable to establish the criteria and then list the range of options that might be worthy of consideration. Each option is measured against the criteria, not against who proposed the idea. By eliminating the attachment to […]

Reduce Anxiety During This Crisis For Your Family Business

Your job managing the family business did not come with a crystal ball. But now, you are getting calls and emails from family members, employees, vendors, suppliers, city officials, the local press, and never-before-heard-from stakeholders about what is going to happen to the enterprise that supports so many. Let me give you a proven solution: appoint an Ombudsman.

Boundaries Are Universal

The single most important issue in family business, above all the other important ones, is boundaries. Failure to establish and adhere to proper boundaries is the cause of more disruption than any other issue.

Step 1: Alignment And Core Values–You First

Alignment is how learning to resolve family issues begins, and this is how my self-study course, Re-Imagining Relationships For Families In Business begins. My use of the concept of alignment is meant to be a 3D acceptance of your basic core values.

A First Step To Resolving Issues In The Family Business

I have worked 50+ years consulting in family business matters, and I recognize the clues when family members begin the process of working on “the issues.” “The issues” vary, of course, but there can turning points when a family business needs an outside opinion, maybe some suggestions, to resolve painful or contentious situations. For those family leaders who would like to do some groundwork, I’ve created an online course called Re-Imagining Relationships For Families In Business. This is a distillation of what I have seen and worked with over the length of my career. I know for sure that the relationships within the family business dynamic (or any business dynamic, for that matter) are the key to sustaining the legacy of success.

These Four Pillars Support A Successful Platform

The lessons around each of the 4 Pillars include exercises and supplemental resources to help family leaders, or the upcoming family leaders, understand and incorporate the key takeaways from each concept. Pillar 1 is all about Alignment. Right off the bat there is an exercise in values clarification because a leader must begin with what he (or she) knows about himself/herself. Then his job is to learn where the rest of the family is with their values. Once all have agreed on a values statement for the business, then they can move on to Pillar 2, which is about Boundaries. Anyone who grew up with siblings already knows that personal space is an issue that begins with the very young. (Mom! Make (brother or sister) get out of my room! Or move over in the car. Or stop playing with my toys, etc.)

Boundaries should be addressed right away when sorting out how to best get the family business moving together towards success. Oldest child may feel she should be able to step […]

My, How We’ve Grown In The Family Business Support Profession

It’s been a year of introspection for me, and I’ve spent some time looking back on a half-century career of working with families in business. This thought-work was how I knew to structure my recently released online course, Re-Imagining Relationships for Families In Business. Having to first distill, then organize those principles that I know for sure get results when working with legacy business families took me quite a long way down memory road. 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.

Nowhere were such changes more dramatically evident than at the recent FFI annual conference in London. The photo you see was taken there, and I have dubbed it “The Stalwarts.” Left to right, it’s Dirk Junge, James Olan Hutcheson, and me. We have all been involved with FFI since its inception, and we were doing the family business consulting work before there were official societies to support it. I’m seeing fewer and fewer of the more senior players in the Fam Biz orbit at these get-togethers, but Dirk, James, and I are still showing up.

In London I was pleased to see a large group of Spanish-speaking participants, and an equally large group of attendees from the Middle East. FFI is now a truly international association of like-minded professionals. I give Judy Green credit for making this happen. I would gauge the majority median age range at the global conference to be 35 – 50, and I think they could have benefited if more of the original seminal thinkers in our profession were there to mingle and to answer questions. That’s a reason I keep attending.

I’ve always believed that change is good and in fact, our ability to change is pivotal […]

Family Business Issues Are My Focus While In Europe

I’ve been enjoying the lull between the Strategic Management Society Annual Conference in Paris in late September and the Family Firm Institute Global Conference, set to kick off next week on October 24 in London. 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.

And speaking of such, recently there was an historic meeting, at my invitation, between some of the best minds and leading family business consultants. We met in Paris, post SMS. I got to spend time with Peter May, of Peter May Family Business Consulting (Bonn, GR) and his partners Karen May and Dr. Arno Lehmann-Tolkmitt, Velitchka Hristova, Executive at Bank Gutmann (Vienna) and an associate at Family Business Matters Consulting, and Samuel Maldonado, also an associate at Family Business Matters Consulting.

The focus of the meeting was to better understand each firm’s protocol for consulting with family-owned enterprise and to explore possibilities for future collaboration. Both Peter and I are very passionate about family enterprise, and we both seek to serve in the best ways possible. The conclusion was that combining aspects of our respective methodologies has great potential for even better results in our consultative processes.

Peter and I will meet for two days in December to expand the reciprocal understanding of our methods, and the specifics about their application. Our recent coming together was also time spent laughing and exchanging stories and enjoying each other’s company. This is one of my favorite kind of days, and to spend it in beautiful Paris was a bonus. Now I am looking forward to chatting with and listening to […]

By |2020-06-25T08:14:29-06:00October 19th, 2018|Categories: Uncategorized|

Takeaways From Strategic Management Society’s Meeting In Paris

family business, consulting

It’s an irresistible combination: the SMS Annual Meeting (September 22-25), and it’s in Paris, so here I am. The meeting brought together some 1200 people, about 90% of whom have PhDs in some aspect of planning, and everyone with an interest in sustaining successful family businesses.

From the program: “Family businesses are a prevalent form of organization in most of the world’s economies . . . The aim . . . is to identify and reflect on critical questions regarding latest developments in the field of strategy . . . and specifically related to trends such as digitalization, demographic change, and political tendencies of protectionism.” The Sunday session panel chairs were Fabian and George Tovstiga, both of the prestigious EDHEC Business School (Ecole des Hautes Etudes Commerciales du Nord.) The panelists were Ludovic Cailluet, EDHEC, Nadine Kammerland, WHU Otto Beisheim School of Management, Carlo Salvato, Bocco ni University (and also Vice President of FFI.)

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 businesses. 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.”

Many of my peers are also interested in seeing new research be more in the arena of practical applications rather than just esoteric concepts and constructs. Our panel later that week in Paris was more centered on the gap between researchers and practitioners, and we discussed the need for greater dialogue between the groups.

It’s always exhilarating to spend time with […]

It’s My Life’s Work—And It’s Time To Share It

family business, consulting New online course now available

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. Yes, 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. When I started, there were not many people who could be called in to help a family that was both in business together and in crisis. Now there are college courses in family business management being taught in major universities and there are family business consulting firms all over the world.

I have traveled extensively in this profession, and I treasure the friends I have made and the colleagues I continue to work with in all the various countries. Over the last few years, I observed how the world has changed and how people can now learn about whatever topics they find interesting and/or necessary by just booting up their computers. I acknowledged it was time for me to take what I have learned over my years in family business consulting and make it available in an online course.

On Thursday, September 13, I made a presentation to the Tulane University Family Business Center, and I announced that my new online course is now available. 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.

Successful families make a commitment to build and maintain healthy and functional family relationships that further the goals of the family business. Such a platform for success is anchored on these 4 Pillars: Alignment, Boundaries, Communications, and Competency. […]

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This Is A Custom Widget

This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.