Family businesses are rich with history and pride. Business is always evolving and oftentimes challenging. Family businesses however present their own set of unique challenges. If not treated like a business, it will be fraught with management issues. People’s roles become blurred or overlap, succession isn’t dealt with, procedures aren’t documented and consistently followed, and a host of other business issues rear their head, disguised as the cost of lost opportunity, or worse, the loss of the business.
How We Deliver
Our team of experts utilizes time tested material, adapted from R.L. (Dick) Wittman’s materials. With our expertise, we help clients navigate the guide tool and assist family businesses by implementing proven strategies for managing resources and planning succession. The purpose of this process is to ensure effective business and personal relationships, enable the business to achieve its intended mission, philosophy and key objectives, and successfully pass the company to the next generation.
How You’ll Benefit
You’ll finish this process with a clear understanding of:
- The business’s mission and vision
- Key performance areas that should be a targeted focus to determine success
- Company organization, and role descriptions
- Defined and documented operating policies
- Standard operating procedures
- Effective communication strategies – resulting in better teamwork
- The components of a management control system
- Best practices for family relationships – dealing with in-laws and family outside of the business
- How to put the concepts into practice
These key points are designed for one purpose: Preservation of the family business.
We believe these proven strategies will ensure the long term success of your operation, while keeping family relationships in tact, for years to come.