Mon, 20 September 2021
EP 210 Family Business 4 Key Questions - Clarify these to Resolve some Conflict
In more than 20 years of working with Family Business the most intense emotions arise around 4 basic topics.
There are nuances, yes, but as I look back they all fit in these categories. Sometimes this challenges land in more than one spot
2 Key Goals - Always
A real life example: From the family of 6 Next Gen who unexpectedly inherited the business – 2 working in 4 not – building resentment – all had = decision making
2 working in – building resentment – 4 not
– benefitting financially w/o work – decisions driven by the size of their checks.
Who does the work of the business – 2
Who makes decisions – 6
Who owns – 6
Who benefits – 6
Harder to Achieve if Conversations Happen During…..
4 Key Questions to Answer for ~ Now & Later ~
Friction can happen when there is confusion around the answers to these questions
When the answers are not consistent –
When the answers pit one family member against the other from competing objectives – like the example I shared
Direct download: 210.mp3
Category:leadership -- posted at: 1:00am EDT