Change in the Family Business

Change in the Family Business

“There is nothing permanent except change”

                        Heraclitus, 513 BC

Based on this quote, people have been struggling with change for over 2,500 years.

I recently was talking with several business owners who commented that they felt the economic climate, the business climate, and the family dynamics were changing so fast they did not know which way to turn. Those comments stirred my thoughts to explore what do business families need to be aware of, or not lose in a changing environment?

If we stop to think why people usually fight change it is frequently because they feel they do not have or will not have control and the familiarity of the known is more comforting than the unknown. The natural response to this feeling of powerlessness, frustration, and fear is resistance. This resistance requires inclusion in the discussions, evaluations of the options, and a belief that as a family all are united.

Several ways we can begin to help our families and businesses deal with change is to recognize and admit that change is a fact of life and without it we will never grow our business or build a family legacy. With a recognition of these facts, together the business family can decide what, where, when, and how the change will be met.

By reaching out to other family members, maintaining realistic optimism and a can-do spirit the business can meet and plan for changes by finding new opportunities in changing situations.

Sometimes change feels like a roller coaster with no one sure which way to go.

If you expect the unexpected you will not be surprised that you are surprised.

How is your family and your business planning for change?