As I move about and work with families in business and other private business operators I see a diverse range of internal business cultures within many of them. There is such a disparity between those who have got it right and those who fail to understand what is really going on in their business with their people. It’s been the greatest challenge of my advisory work in this segment and the most rewarding when we get it right and everyone embraces change
The benefits of understanding why culture is so important as a driver of success is a given when you find examples of leaders and companies who are enjoying sustainable growth and ongoing profits through a positive internal culture.
I find that one of the key issues is the relationship between the generations, especially in a family business.
Many heads of family companies call on their legal representative or accountant to resolve internal conflicts. I challenge this as the professional advisor will always look after the interest of the person who engages them as their primary priority. READ THIS POST
Why do successful people use a mentor? Because it works. Family business should consider engaging professional mentor for the next generation working in the business. They sometimes only know one way and that is what they learn from their parents. Mentors bring a different perspective through their wide experience and knowledge. READ THIS POST