Tuesday, May 29, 2012
Remember the days when business was done on a handshake? When an individual’s word was their guarantee?
For families in business, their name is on the door or the delivery truck or the website. Their word is the family’s name and they are usually committed to supporting the communities. Studies have shown that over a third of the 5.5 million family businesses in the United States have written codes for the behavior of the family and the business and consistently talk about those values and ethics.
It is often because of the relationships that were built by the founders or previous generations that family businesses continue to trust and respect each other and still do business with each other into the 2nd or 3rd or 4th generations and beyond. The trust developed between generations doesn’t just happen: it takes work, it takes learning, it takes sharing information of what works and what could be done better.
To build a Family Legacy, the same is true. By offering a special promo code (join2012), The Network of Family Businesses is providing a special promotion to help Family Businesses keep the next generation in mind in decisions they make and the plans they develop. The sharing of information through Social Media and nurturing a Network for Nxt-Gen Internships will develop new relationships just like the relationships that were built by the founders and previous generations.
Building and nurturing relationships, networking with other Families in Business, providing resources for learning and sharing is how The Network of Family Businesses supports families as they strive to grow their family, their business, and build their family legacy.
Remember when your family knew who they could turn to? Today, family businesses can turn to The Network of Family Businesses.
Visit the The Network of Family Businesses at: http://www.netfamilybusiness.com/ -- Promo Code: join2012
Thursday, May 24, 2012
An effective Business Culture is built on trust, respect, values and the proactive engagement of the leaders.
In a Business Family an effective and healthy culture is nurtured and modeled by all members of the Family. Are you as a Family in Business creating a culture of excellence, of clear performance expectations, of trust and respect or are you creating a culture of mediocrity and ‘what’s in it for me’?
To build a culture of trust we need to ‘do what we say we will do’ and fulfill our commitments, display a willingness to rely on others and trust we all have each other’s, the family’s, and the business’s long term interest at heart.
The culture of the business will be based on the values of the family. The recognition and adoption of the values, guidelines, and way of behaving that a Family has declared should be communicated often, communicated in writing and will be communicated in deed and action.
When there is strong accountability, commitment and agreement to those values both family members and employees are able to focus on the family needs, the business needs and the long-term goals.
Thursday, May 10, 2012
As a parent we want to do the right things correctly.
As leaders of the family business we usually want to build the family legacy and have the business thrive for generations.
In a recent Webinar, Dr. Steve Treat itemized what he believes are the three highest corollaries’ for the successful transition of a family business.
1. Family Meetings that not only discuss the business but the family.
2. A family business leader that steps down and turns the business over to his/her successor in a timely fashion.
In the webinar Steve outlined very specific steps for parents (steps that apply to children of any age) to build relationships and relate to their children as peers.
The goal of Peerage and Adulthood:
- Building an identity of their own
- Having accomplishments of their own
- Learning how to think on one’s own
- Asserting oneself respectfully
- A clear understanding of roles
- No sense of entitlement
The many ideas for the basic of growth parents included: to learn to be friends with our adult children, learn how to build a peer relationship with them, learn how to build mutuality, have boundaries, and build integrity. Steve states there is every reason to believe the family and the business will thrive.
This is a must see webinar for any parent.
It is an absolute must see for Business Families striving to build their family legacy.
The webinar is available in archives of The Network of Family Businesses.
Tuesday, May 1, 2012
The Network of Family Businesses has scheduled a virtual educational Webinar with Dr. Stephen R. Treat to gain insight and practical guides for this critical family dynamic. Steve is a Senior Therapist and former Director and CEO of Council for Relationships, the nation’s oldest and largest counseling agency. Dr. Treat continues to see clients, teach at Thomas Jefferson University, and consult with family businesses. He is an in-demand speaker, consultant and media expert. He can be seen regularly on television programs such as Philadelphia’s NBC10’s 10! Show, CBS3’s Talk Philly, and numerous local news programs. He has appeared on national television shows, such as the Today Show. He’s also been featured on numerous radio programs, and is often quoted for newspaper and magazine articles.
Understanding how to relate to your adult children as peers is a difficult task for any parent. Understanding the Family Dynamic of Family Businesses to Raise your Successor truly compounds the matter. The seminar is scheduled for Wednesday, May 9th, at 11:00 AM EST.
The dynamics of a Family Business are often not recognized and often overlooked or avoided. How does one go about raising the Next Generation to be Adults and Peers in the business. We often hear phrases that seem to indicate “Children” aren’t competent successors. Yet to build a family legacy we need to prepare the Next Generation as well as ourselves. How do we help the Next Generation build their own identity, think for themselves, and understand each individual’s roles.
Don’t miss this critical and timely topic.
Registration to join The Network of Family Businesses and be eligible for the On-Line Educational Seminar is available at: http://www.netfamilybusiness.com