FAMILY BUSINESS EDGE
At Family Business Edge our services ensure the continued success of your family owned business by helping you to build both healthy family and resilient business in an increasingly competitive world.
We understand the key components to continued success in family enterprise:
Supportive Family
Relationships in any business are a challenge. In family business the complexity of family and business relationships require ongoing commitment, skill and tenacity. We are geared to help you with your unique challenges of a family in business.
Ownership Transitions
Family enterprise success requires the successful navigation of leadership exits and entrances. The decisions you make today could secure your competitive edge through the next generation. A strategic plan and attention to family dynamics can make the difference. We will help you determine the optimum ownership structure and assist you in planning for ownership succession and leaderships successions. You will have a plan for contingencies when the unexpected happens.
Business Management
Continued business growth requires family business owners to embrace key components of the professionally managed organization. Further you need to know that the next generation is equipped to take on the challenge of your business. Our business is to understand your business and the unique make-up of your family so we can help you optimize the management of your enterprise.
Failure to deal with the reality of power, love and money results in most family businesses not surviving beyond the founding generation.
Two thirds of family businesses do not survive into the second generation. In most instances this could have been prevented by good planning and attention to family dynamics.
Failure to do so runs the risk of creating a generation who have difficulty making the transition from inherited wealth to becoming responsible, self-directed individuals/leaders, whether inside or outside the family business.
Flourishing Family Business
Given the right kind of attention, intergenerational family business transfers can be highly successful. When family business works well, it is an entity that little can rival. High levels of motivation, loyalty, personal investment and sharing of values combine to produce a strong foundation for your business. The challenge is to create precedents for decision making that are informed and objective rather than the product of the heat of the battle. Our strategic business policy process will help you sort out what the family expects from the business and what the business has a right to expect from the family, ensuring better future decisions.
The Family Business Edge will help you:
- Work through the confusion of love, power and money to strengthen family and build successful business
- Align your business around your family’s vision, mission and core values
- Identify the gaps in your business created by the worthy desire to honor family
- Build effective boards of directors and/or family councils
- Have the difficult and necessary conversations for continued success
- Release the unique gifts of all family members
- Create the structure and mechanisms to navigate the obstacles of the ownership life cycle
- Develop leadership that is equipped to face the challenges
- Merge new family members into the business
- Acquire tools for dealing with the tough issues of building both a family and a business
- Deal with the sensitivities of managing performance in the context of family relations
- Resolve conflict and increase capacity for difference
- Rebuild trust as an alternative to getting out of your business
Family Business Edge Services
Strategic Business Assessment
We go beyond assisting you with your competitive edge. We will help you identify those unique challenges that you face today and build capacity for those you will face tomorrow. We are specialists in finding the leverage points that will not only position your business for tomorrow but will help you deal with those prickly issues that are so much part of family business.
Family business retreats
Whether you are exploring the future, celebrating success, team building or dealing with contentious issues we will design an appropriate process that will infuse your time together with positive memories. We also understand that laughter heals and releases.
Performance and Personality
We understand that performance reviews are critical to next generation business growth. We know that most families don’t do formal evaluations well. Experience has taught us that many next generation family members will feel trapped by the business unless their unique interests, personality and fit are taken into account. Our approach to performance management and personality profiling is honed to manage expectations and enhance communication as we help you develop next generation leadership or manage ownership transitions.
Executive coaching
Managing family business transitions is one of the most challenging tasks required of any leader. We know that at times it is a lonely road to travel. A key part of our service is to walk along side a business leader for a season. Our coaching service is never packaged; it’s tailored to you and your specific circumstance.
Relationship Consultation
Family business puts tremendous strain on family relationships. We are uniquely positioned to help you gain clarity in your most significant relationships with spouse, child, siblings, cousins or parents enabling you to maintain a healthy balance between work and family. Our clients often report that the work on a key family relationship releases them to experience the joy of traveling lighter.
Family business policy-setting
We know that successful family businesses do a good job of anticipating the future issues and talk about how to deal with them before they become issues. We will take you through a policy setting process that will strengthen and unify your family. We know that often policy creation is avoided because the family fears conflict. Through the process of creating policies we will help you to communicate with each other on difficult issues, resolve differences and solve problems.
We are geared to help you
The Family Business Edge will help you lead the three core elements of your business: family relationships, business management and ownership transitions. The complementary talents and experience of John Radford and Vi Neufeld provide a foundation to understand and partner with you to improve your competitive business edge.
