The Family Business
The well-run business defines and executes their strategy in alignment with the organization’s core purpose and vision; gives attention and time to all aspects of internal and external performance; and develops leadership teams with roles aligned to move the business in a forward direction. Challenges in a business can show up when an organization disconnects from its purpose and vision, when a culture drives performance without the influence of informed and engaged leaders and when roles and responsibilities become ambiguous.
These lessons have been taught to us in best selling leadership books, credible business articles and effective performance-based training programs. We actively seek out this information and apply it to create stronger organizations and high-performance teams. This information could readily be applied in all areas of our lives, yet how often do we take time to integrate these same fundamentals into the family business?
Families face different challenges than businesses, though many of the same concepts you have learned to build Breakthrough Business Cultures can be applied to the creation of a Breakthrough Family Business. Writing a mission statement, determining guiding values and designating roles and responsibilities lays the foundation for the family as well as the business. Take time to work through our Process of the Month, Designing Your Family Culture, with your family. Once you have invested time in enhancing family communication, family values and a family mission statement, you will have the basis for developing teamwork and creating accountability within your family. This will prepare you for the unpredictability and change that accompanies family membership. By taking the time to create a strong culture as your family’s foundation, you will be prepared to handle the many changes your family will face in the years ahead, and you will have an undying enthusiasm for facing these challenges together.
Whether your family consists of two people or twelve, taking the time to create your family business will help your family move strategically towards everyone’s vision. Consider what you want your family business to generate – love, acceptance, understanding, respect? Think about the profits – quality time, powerful memories, ongoing growth, and the attainment of goals. Whatever it may be for your family, these are the rewards of a great family business – and these profits last a lifetime not just a quarter.
