Wednesday, February 29, 2012

Executive Coaching for Family Businesses

The Network of Family Businesses has scheduled a virtual educational seminar with Kathi M Smith, ACC, CPC, ELI-MP to learn and discuss Executive Coaching for Family Businesses. The seminar is scheduled for Wednesday, March 21st, at 11:00 AM EST.

In a White Paper for The Network of Family Businesses, Kathi states it is easy to think of the term coaching when we think of the sports or entertainment industry. We know that the person or team being coached is not only learning the physical skills of their craft but equally important is identifying what drives them to succeed. A coaching partnership in the Family Business incorporates communication and leadership skills that may be used to increase your influence with others. Not over them but with them. Influence is leadership and communication builds confidence allowing you to grow yourself and your business.

People have limiting beliefs and habits that may prevent them from being able to utilize their best skills. What beliefs or habits do you or your teams possess which prevent the ability to move forward? Just like in sports, a personal development coaching partnership encourages, supports, and builds confidence to bring out the best in an individual or team to accomplish their purpose and established goals.

As a coach to family owned businesses, Kathi takes their entrepreneurial spirit to encourage and motivate them to move from where they are, to where they want to be. Kathi is a full time coach and is one of 80 coaches certified in the state of NJ through the International Coaching Federation. She is also a certified Energy Leadership Index – Master Practitioner, which concentrates on core values and unique energy levels we devote to the primary areas of our life each day.

Prior to her coaching career Kathi was in the financial field for 15 years as a successful Sales Account Executive at PHH/Cendant watching the firm grow from 85 employees to a corporation of over 7,000 team members. She worked as a Financial Consultant with Smith Barney and saw the challenges of family owned businesses in passing wealth. She has written the program FAITHThinking which was born through her coaching practice and personal experience as she realized that how we view our Future, our Attitude, what Inspires us, our Thoughts and Habits determine the success we will have each day.

Registration to join The Network of Family Businesses and be eligible for the On-Line Educational Seminar is available at:

Sunday, February 19, 2012

Who Fills Your Tank

“Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great.”

Mark Twain

The responsibility of family leadership is to nurture the growth and development of the next generation’s knowledge, skills, and abilities.

How many opportunities has your Family missed out on by not encouraging the ambitions of the next generation, even if that may not be in the business?

Monday, February 13, 2012

Continuing in the routine Health Assessment of your Family Business

Family owned Businesses, of any age or generation, need to take routine assessments of the health of their business, family, and individuals in the business. To get a clear true understanding, the assessment should consider, separately and in combination, all the factors that enhance the health of the Business Family. Critical areas that should be evaluated include: Leadership; Values; Change; Goal Orientation; Empowerment; Communications; Governance; Team Work; Interpersonal Relationships; Familiness; Customer Focus; and Individual Recognition.

The best way to find out what is actually going on in the family and business is to ask those in the family and in the business. Earlier ‘Check-Up’s examined Familiness, Family Values, Communication, and Customer Focus. This Family Business Check-up examines Leadership.

The leader’s role in the organization creates the foundation upon which to build the future. Successfully influencing the activities of members and the group is enhanced when members recognize the leadership as nurturing, caring, competent, and forward thinking. This dimension considers the strength of support for the group or organizational leader.

Each Family Member should address the following statements:

1. Leadership in our family business encourages individuals to think and make decisions for themselves.

2. We display strong confidence in the integrity and ability of our family leaders.

3. We are confident our family leadership will fulfill their commitments.

4. The leadership cares about each individual in our family and business as a person.

5. There is a defined process for leadership succession in our family.

How would your family, employees, and customers, clients, or vendors, answer these questions about Leadership by your family and your family business?

We will continue to explore critical areas for the annual check-up of Family Owned Business in later posts.

What are your thoughts regarding the Business Family Check-Up?

When was the last time your Family Business had a check-up?