Live and Lead for Impact with Kirsten E. Ross

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

  • Profitable Business
  • Healthy Family

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…..

  • Crisis
  • Conflict

4 Key Questions to Answer for  ~ Now & Later ~

  • Who Does the Work of the Business?
  • Who Makes Decisions for the Business?
  • Who Owns the Business?
  • Who Benefits Financially?

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