“When there is an elephant in the room, introduce them”
A successful family business is more than just a money making machine, it is a capsule full of emotion; feelings of history, successes and failures, relationships; good and bad and a sense of belonging.
Research shows that family businesses are more likely to be driven to survive than their non-family counterparts. If the family cannot retain ownership or control, all of the important family history and many generations of dedication, blood, sweat and tears will cease to be. This can cause huge amounts of conflict, anguish, pain and sorrow as different family members can see things so very differently.
FAB’s Family Business Consultants work with the family in a very different way focusing on ensuring the best outcome for the business rather than who said what to whom and why.
Of course there may be the usual Director level conflict and disagreements about retirement, strategy, drive, remuneration, etc., but when this is coupled with, sometimes deep rooted, relationship issues the ‘business’ can often be overlooked and can suffer badly.
FAB’S team have a wealth of experience and knowledge of working with family owned and run businesses and their professional advisers.
We specialise in working with families in business facing change and transition, particularly management and ownership succession. It is in times of change from one generation to the next that families working together often feel the most strain on their relationships. Our consultancy services address the issue of family relationships and the often devastating impact these relationships can have on the individuals, the family and the future sustainability of the business.
Moving through a transition
At FAB, we offer a personal, sympathetic service that works to find resolution for family businesses dealing with transition issues. Our expert knowledge and experience means we understand the sensitivities and can help you to navigate them successfully.
If you’ve already spotted the elephant you can probably see nothing else now! We, at FAB are not afraid to open up the real impacting issues and we will identify the elephant in the room! We have a wealth of experience and knowledge to support you explore and confront change and transition, particularly from one generation to the next: to help you to find resolution, and move on.
All family businesses go through periods of transition when big decisions have to be made. These are challenging times, but they are also moments of opportunity – when underlying issues can be resolved and the business and the family can move forward. Most families in business understand the need to act with confidence when things get tough, but because many complex family issues can lie beneath the surface of everyday life, it may be difficult to determine the best way forward.
We help you manage transition in turbulent times by investigating the real issues; getting to the heart of what is affecting your business and your family, helping family businesses moving through a transition to make the difficult decisions necessary to create a foundation for future success.
We have worked with the family on personal changes and developments to help them align their personal and business objectives.
What we offer you
At Families and Business (FAB) we offer a solution based consultancy process that is sympathetic to the complexities inherent in a family business and seek to develop a road map that meets individual, family and business needs. We offer a tested methodology for working with the family and the business. We do this by operating in four distinct, interconnected, areas.
- individual needs
- family needs
- business needs
- ownership philosophy
2. Being transparent in our consulting work, so that all key stakeholders are engaged and involved throughout the process.
3. Understanding expectations of all key stakeholders.
4. Maintaining open dialogue:
• between stakeholders, and between generations.
We have helped family businesses moving through a transition to make the difficult decisions necessary to create a foundation for future success. We have worked closely with business leaders and owners – on personal change and development to help them align their personal and business objectives.
If you’d like to have a confidential discussion with our team you can either email us or call.
Stage one of our consultancy process has been approved for a NZTE Capability Development Voucher of up to $5,000 towards a service price of $10,000, ie 50%
Contact us to determine if your business qualifies for 50% funding of any of our programmes.