“Fun With A Purpose”

“Fun With A Purpose”

Issues Will Always Exist in a Family Business: Tackling Them Is the Real Trick

A Fourth Generation Family Business Looks Back and Ahead

“Fun With A Purpose” is a resonant theme we heard from George Brown on a recent on-line educational seminar with The Network of Family Businesses. “Fun With a Purpose” for the children they serve and “Fun With a Purpose” as a Business Family.

George is Manager of Asset Services with Highlights magazine and Highlights consumer products. A fourth-generation member of the family, he has worked for Highlights for Children, Inc. in a variety of roles over the past ten years including sales, planning, editorial, product development, and content management.

As George relayed the history of the Myers Family and the significance of Shared Values, Shared Experiences, Shared Places, and Communication, everything the family does mirrors the business motto of “Fun with a Purpose”. The family reunions, family council meetings, and educational programs for the next generation not only occur at the family homestead but are designed to nurture the transition of family values with very purposeful events. These events range from formal type education to an annual family square dance, to service projects for all family members to participate in.

As I have experienced the Myers family, they take nurturing and passing the family’s Mission, Vision, and Values very intentionally and very seriously, but approach it as “Fun With A Purpose”.

George provided valuable insight and left us with three points all business families can work on:

1. Each family will have their own set of values – It is important to understand what the values for your family are.

a. What they mean

b. How they translate into action for the family and the business

2. Work to intentionally build shared experiences, create shared places, and build shared values with all family members to keep building the family’s legacy

3. Keep the communication and dialogue;

a. Open

b. Honest

c. Frequent

Especially between the Generations

George stated: “As the issues come and go in our family, we use the tools we have developed over four generations to help us. Each time we tackle an issue, we strengthen our belief that these tools serve us well.”

George, thanks for giving us a glimpse into your family, your business and how you are building your family legacy as you move into the 5^th generation, and having fun while you do it.