Families generally go through an interesting journey that encompasses all types of relational implications and have a dynamic that can be challenging. They influence each other genetically, psychologically, legally, financially and through history. When a family shares business interests as well this adds several layers to a dynamic that covers family of various permutations. The family dynamic and its practices can lead to much business strain and resultant toxicity.
|The addition or replacement of one person in the business can massively change the relationships in it. For family businesses the person taking over the leadership position, can feel as if they’re tiptoeing through a minefield.||The strategies you have in place for managing the changes in dynamic and bring about smooth transition.
The heir apparent’s personal values vs the business’s traditional values. How closely aligned are they?
|The founders of a business start off working well together, but sometimes can't see eye to eye, and whatever one says the other takes offence.||You may have lost sight of your 'why'.
Are you the partner who's had enough and secretly wants a business divorce?
|You started the business and nurtured it through the barren and plentiful times. Your children joined, and you have a family firm which is what you always wanted. But now they disagree with the direction in which you want to steer the business. As far as you're concerned it’s a threat to all your hard work and authority.||The real reasons for the conflict.
Assumptions made because of position in the family structure and its ‘at home’ practices.
|Decision-making in the business has become fraught and is not helped when shared history and emotions are at play. Board meetings degenerate into something that members who are not family find themselves having to tolerate.||The willingness needed to see from a fresh perspective so win/win is possible.
Does the level of objectivity required exist within the family, or might it be provided by a facilitator?
Non-family members sense of well-being and possible feelings of insecurity in the environment.