Tag: business owners

Family Business – The Value of Outside Help

May 27, 2013 | By | Add a Comment

By its very nature, a family business will often be very self-sufficient and able to look inwards for solutions to challenges. And, there is a strong argument to bring in other skills and expertise from outside to give a broader perspective… Many family businesses pride themselves on being effective with family members alone. They capture the […]

Continue Reading

Family Business – Preparing to Step Back

May 20, 2013 | By | Add a Comment

For anyone who has created their family business, deciding on the time to do less and leave it to others can be a daunting prospect. Yet there are some simple ways to ensure that stepping back is less painful than at first it might appear. After the years of eating, breathing and (sometimes) sleeping the […]

Continue Reading

Family Business – New Blood for the Future

May 13, 2013 | By | Add a Comment

When starting a family business, the last thing on the mind of the owner will probably be what will enable them to retire and sit back. Yet by taking action early on, enjoying the fruits of the labours that built the family business will be all the easier. Planning for the future is so often […]

Continue Reading

Family Business – Credibility Tactics for New Family Employees

May 6, 2013 | By | Add a Comment

For entrepreneurs who start up a business, there will be little to doubt about their credibility. They started, progressed and built success. For those who they bring along to create a family business, there may be work to do so that other employees respect them too. It can be tough to be a family member […]

Continue Reading

Family Business – Building a Performance Based Culture

April 29, 2013 | By | Add a Comment

At the start of a family business, one or two members of the family create a new entity that they own and is their baby, from top to bottom. In most cases – at this stage – the success or failure of the enterprise depends on how much money is in the bank at the […]

Continue Reading

Family Business – Your Eight Key Stakeholders?

April 22, 2013 | By | Add a Comment

Depending on circumstances, there are usually eight groups of key stakeholders in family businesses. This may vary slightly from one family business to another, so it’s always worth considering every possibility. Each is important to understand and work with, for the future of the business and morale in the bigger team. Family Owners The most […]

Continue Reading

Family Business – Communicating with Non-Family Employees

April 15, 2013 | By | Add a Comment

Bringing new faces into a family business can be one of the most value-creating acts that existing members of a family can instigate. New ideas from wider experiences can only improve and develop a family business, Yet this can be a daunting prospect for anyone attempting to break into a close-knit family unit. Existing family […]

Continue Reading

Family Business – Developing Key Personnel

April 8, 2013 | By | Add a Comment

For a family business to survive and thrive, there must, like in any successful business, be a continual flow of talent into the business. Where family members are to integrate into the business, they need to ensure that they are fit for purpose. And to ensure this is so, they need to fit onto a […]

Continue Reading

Family Business – Paying Family Members

April 1, 2013 | By | Add a Comment

When family members are employed in the family business, there are challenges to face. Whilst it is a valuable and rewarding experience when an existing business can take new family members into employment, there is a balance to achieve where family loyalty and reward come into question. For most people, taking up employment is a […]

Continue Reading