Family Business Counseling actively combines specific, pragmatic, and effective techniques to enhance both personal relationships within the business and crucial family bonds, fostering overall success.
As a family business ourselves, we understand first hand that owning, running, or being a part of a family business. It actively rewards.
Combining the difficulties of personal blood relationships with the already complicated task of owning a successful business requires a thorough examination. An examination of multiple siblings, generations, and integrative communication skills.
Communication is often the number one issue that plagues all businesses – not just family businesses. Poor or ineffective relationships and resulting poor communication may be large obstacles that need to be overcome. They may involve policy, procedures, and habits that have been entrenched in the company culture for years – or even generations. Inter-generational, inter-office, and inter-personal communication are some key factors in determining the current and future health, profitability, success, and viability of a business.
Worksheet or Family Businesses
- Realistic Family Goals and Strategic Analysis
- Interpersonal and Inter-family relationship Plan
- Integration of Generational Perspectives
- Clear Role Definition of Family Members
- Family Council / Board / Advisors
- Conflict Prevention and Resolution Systems
- Succession, inheritance and Transition Plans
- Buyout, Estate Preservation, and Pension Options
- Stockholder and Control Concerns and Proposals
- Compensation packages and wealth distribution
- Money Back Guarantee
Past
The needs of family business require attention and understanding of family relationships, interactions, and perspectives and a realistic plan for the future. Additionally, understanding the business’s origin, development, and current operational strengths and weaknesses is vital. It builds a more solid foundation to gather and appreciate all of the necessary perspectives, needs, and conflicts that emerge in any ongoing enterprise.
Present
Every business will assess their present financial standing, personal relationships, and overall company morale. The strengths and weaknesses of the company, management, staff, and family members need to be addressed. They area addressed honestly and without fear of retaliation. This is where a neutral firm offers critical value and assistance. It is reasonable to be apprehensive about having an outside firm come and evaluate and assess your business candidly. Moreover, even greater difficulty arises when private family issues become intertwined. Nevertheless, non-judgmental and unbiased mediators handle this with the utmost confidentiality, guaranteed by both law and contract. And they don’t legally divulge any type of confidential information.
Future
Ultimately, if the family business is to succeed – a researched strategic plan is required. This process will involve asking many questions – some of which may be difficult and hard to answer. This is about developing the “Best Ideas Win” approach to solutions. Consequently, we must ask: “How did we get to this point?” What are the positive and negative issues that demand our attention? Who really controls the company – or who should? What are the skill sets of upper management and how valuable are they? Who will assume control of the company in the future, and how will they manage its operations? Is there a succession plan? Most importantly – how will we agree on plans? How do these practices manifest in real-world applications and demonstrate positive, direct impact on both the company and its employees?
What are the specific plans to have all generations, family members, partners, stockholders working together to effectively establish, maintain, and obtain goals? Who should have a voice? Are they leading the company and themselves in a fair, pragmatic, and progressive direction?
These are just a small sample of the questions and obstacles that arise – each requiring individual attention. This can be challenging and stressful – and in some cases depending on the level and length of challenges, viscerally upsetting. By actively facing issues and conflicts head-on, you can guarantee the success of not only your family, but also, by extension, future generations.
Guarantee:
The way our firm manages the most challenging family business cases is by developing a level of trust. It comes with our money back guarantee. We specialize in working with mid-size and smaller family businesses. At alternative law, we know that it is essential to begin the process on equal footing.
We provide a 100% money back guarantee. Our guarantee options provide for a more open forum of discussion, commitment and communication – which speaks to family business issues in the most realistic manner.
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