Our interventions are designed to provide active coaching and personalized guidance to a select group of family business owners who are highly committed to optimizing the future of their family business and create wealth for their family.
There are Four Phases of Family Consulting:
Phase 1 – Education Phase:
- Family Business Orientation and Self-Awareness
- Why Family business needs different treatment?
- Keys to Success in Family Business
- Using Family Genogram to understand self and others
- Importance of Governance Structure in Family Business
- Role of Family Constitution
- Need for effective communication in Family Business
- Deciding the boundaries to follow?
- Best Practices for Family Business
- Strategies for unlocking wealth
Phase 2 – Planning Phase:
- Understanding Self
- Self-Awareness and choices – Devising an action plan
- How to Groom Successors?
- Need to Professionalise? What does it mean for me and my family organisation?
- Learning to operate from a new paradigm
- Refining Listening Skills
- Learn to Give and Receive Feedback
- Create Your Fantasy of the Future
- What is our business strategy? Developing a plan
Phase 3 – Implementation Phase:
Developing an Action Plan to realize goals and set processes for managing the business in a systematic way. This phase includes the tactical implementation interventions for achieving the strategic goals,
Some of them are:
- Defining group and individual responsibilities
- Define the decision making processes
- Work out critical positions and man those positions with right skill employees
- Developing critical business numbers to monitor growth and MIS to capture it though routine reporting
- Conducting periodic reviews to monitor progress.
- Placing governing mechanism at Board level as well as at operational level
- Developing Family and Business interface
This is done in context of the family enterprise owned by the family. Family members planning to work on their own on these activities may find it challenging and difficult for this transition. An outside coach or mentor can make the difference by right facilitation.
Phase 4 – Mentoring Phase:
- Moving through the Action Plan by ongoing mentoring of family members involved in the business as well as Non Family professionals via video / phone access for questions, support, guidance and in-person meetings as necessary.
- Conducting periodic structured reviews for building better business governance and managing business performance.
The Family Business Journey
It’s important that the family members responsible for leading a family business be trained to effectively use the available tools that can help them manage complex matters that will inevitably arise in the course of the business. Help them build boundaries and define job responsibilities and accountability for individual members working in the family business. Framing the rules for Family and Business through building a suitable Family Constitution through a consensus. We help the family build strong ties and build a strong foundation; which is followed by regular mentoring and coaching of the family members as they transition through the various stages of working in their family business.
Does Your Family Business Need Help?
With extensive hands on experience of assisting family businesses, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through orientation programs, one to one as well as common meetings, workshops, public talks, mentoring, coaching, Family retreats and private family business consulting services, we help family business owners chart their way through family business issues of all shapes and sizes.