Preserving and Improving Business Family Life
The rewards of being a part of a successful family business are independence, a real sense of accomplishment and, of course, power, status and money. The chief drawbacks to participation in a family business include long and hard work hours, the problems of separating home from business life, and issues raised by succession and business strategy. Founders of businesses may feel a greater sense of control over financial rewards and company policy than do their children whose concerns often focus on competence, commitment and co-existence. Second and third generation business families are obliged to consider more complex planning and organizational possibilities when faced with the additional difficult equation that includes cousins and in-laws as well as inactive shareholders.
There are now established statistics and documented surveys that apply strictly to the concerns and problems of the business family. Your own family business is certainly unique in many respects, but the issues involving fathers, sons, daughters, mothers, in-laws and cousins are universal. Add the common topics of power, change, roles, money and performance and these issues are greatly intensified.
These are the issues that Pervin Family Business Advisors understand. It's our only business and we have been exclusive in the field for over twenty years.
"It wasn't until we stopped meeting with Aron that I realized my week was not complete unless I had the opportunity to work through the issues I had with my brother while sitting in Aron's office. I found myself saying I should be doing something today but I don't know what it is.
Without Aron's help our business would have failed, thereby adding to the statistics surrounding 3rd generation family business. The long drive from our city to and from his office was difficult at times – going was sometimes a very quiet ride but coming home was much easier.
With Aron's help, I realized my potential in maximizing my relationship with my family at work and at home to create a much healthier and happier life.
I learned how the dynamics of 3rd generation family members can undermine the effectiveness of the business operation. An understanding of those dynamics also created a colour photo of what was happening. It wasn't so much of a shot at my ability, but more of an attempt to be the provider and give me permission to listen and try to understand the other side of the table.
When Aron deals with what could be the past 40 or 50 years of doing something that one family member thinks is right, it takes time and effort to change. My favourite word, "Commitment", helped me persevere and make the necessary changes so the next generation can say and do the same thing."
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