Family businesses are a special breed of business. While they share many similarities with corporate businesses, they also have a special flavor all their own.
In our last blog we discussed some of the structural elements of family operations. When we turn to the day to day operation of a family business, there are things that you can do to help ensure generational success.
1. Boundaries, Boundaries, Boundaries
Can we say it one more time? BOUNDARIES. This is an absolutely essential element in the family run business realm. There need to be frank discussions about the separation between business and family life. While it may be unrealistic in practice for there to be a pristine division between work and pleasure, there does need to be a shared understanding for when and where work will be discussed.
In addition, roles not only need to be clearly defined, but everyone needs to respect the set boundaries. For example, if a family member in a junior role is having difficulty with their line manager, Mama Bear CEO has to let it run its course. If Mama Bear intercedes it sends strange messages throughout the organization and will definitely undermine that line manager’s authority.
2. Keep Communication ProfessionalIn family run organizations, you add a tricky family dimension to business communication. Family businesses have to pay extra attention to communication strategies that allow both family and non-family employees to feel heard and appreciated. Imagine a tense business meeting where you feel your opinion is not being valued. The person across the table from you isn’t just a coworker, but the sister who constantly tattled on you and your parents always took her side. While you are now a “mature” adult, those feelings of being treated unfairly can come rushing in. The result may be a snarky response that escalates tensions and makes those around you uncomfortable.
3. Infuse Family Values Throughout the CultureThe importance of connection and treating people like family can create a culture where not only the staff feels cared for, but the customers as well. Jayco, a family run recreational vehicle company, encourages staff and leadership to view things from that family perspective. Instead of just adhering to the industry standard, their CEO challenges them to ask, “Is this what you would do if it were one of your siblings?”
4. Let the Outside In
The family dynamic can build a very nurturing culture. You can also run the risk of a stagnant point of view. You want to be sure that you are creating a good mix of family and non-family members in both staff and leadership positions. The varied talent pool will provide fresh perspectives and expand the skill set of the organization.
5. Plan for the future
You want to think about succession long before you are ready to pass down the company. A lot goes into succession planning including assessing the feasibility and desire of family members to run the company. Charting a clear vision and creating a structured plan will increase the chances that the transition will go smoothly.
An invaluable tool to keep family businesses on track is getting a “business therapist”, someone who understands the family dynamic and how it applies to running a company. G2 Solutions is uniquely qualified for this. We are business consultants with a twist. We are trained psychotherapists who understand how to support families in all types of settings. Contact us and we will show you how we can be of service.
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