Archive for the ‘Family run businesses’ Category
When did you last really talk with your business partner about the direction of your small business and what YOU BOTH want from it?
- Want some help to establish clear business goals with your business partner?
- Is there more potential in the business but it’s just not running as smoothly as it could be?
- Want to retire or take a back seat but need to be sure that your partner is ready to take up the reins, or are you biting at the bit to take over the reins but they just don’t know how to let go?
Working with a business partner should give you a sounding board to talk through ideas, share concerns and work through the tough times together. But does it always work out that way for you?
Having a business partner brings its own challenges, even more so if you are a family run business or have set up with a friend. I often find that communication may not be as open as it could be for risk of upsetting the other party.
Avoiding sitting down and talking about the direction of the business and what each of you want from it, means you have less control over the direction of your business. Instead of working in harmony with your partner(s), there could be friction and pulling in different directions, causing personal rifts, frustration and procrastination in decision making.
Business is tough enough as it is so you really want to be pulling in the same direction – where there is least resistance and where inspiration flows! Working towards joint goals brings any potential issues into the open so they can be resolved. You need to know what your business partner wants and how that is in line with, or different to, what you want.
Not taking the time to really talk about the future with business partners is pretty common as you are so focused on running the day to day business and keeping your head above water. Taking time out to discuss the future of your business and your part within it, seems a luxury for which you just don’t have the time!
Trust me – you need to find the time. That’s where I can help. Help you work through your joint business vision and set time bound goals to ensure you are going in the same direction. That’s why I am tailoring my successful Vision Formula Workshop to specifically help business partners get their year in gear – or as it has been fondly renamed by delegates, get your ‘ar.. in gear!’
To encourage two of you to come along and work through joint vision goals, the second delegate comes free. The delegate fee is £87 – so that’s only £43.50 each! I will take a maximum of 8 delegates on the workshop so we have time to talk through specific issues and set clear goals that work for you. That means I only have spaces for 4 sets of business of partners – and one place is already booked. So email me NOW!
The 3 hour workshop is on Tuesday 12 February 9.30-12.30 at The Hand and Sceptre, Southborough, Tunbridge Wells.
You will leave the 3 hour workshop with:
- A core 3 year business vision that clarifies what you both want from your business
- A reality check on where you are now
- Key measurable goals by which to track progress
- An action plan to get you started
Places are limited to 8 delegates – that’s just 4 sets of business partners for just £87 for you both. So email me now or ring me on 01732 851858 to book your place.
I appear to be gaining clients that are family run businesses, be they run by husband and wife, siblings, parent and sibling, or a mixture of family and extended family. One of the key areas that we find needs addressing to step up their business, is establishing the future vision of each business partner so they are moving forward in unison. This means opening up communication.
Owner-managers in general can be so busy with the day-to-day running of the business, that they don’t make time to think about and openly discuss the future, including where the business fits into their life plans. Family members are understandably mindful not to take work home with them and make a conscious effort to try to switch off and have quality time with each other.
As a consequence this can result in skirting around issues rather than making time to have a focused conversation about the future to establish where each member sees the business going.
Open communication is key
In family run businesses, there can be a closeness that can almost inhibit open communication, either because they think they know what the other wants, or they hold back from verbalising their thoughts in fear of upsetting other family members. Discussing when each member sees themselves leaving the company is of a particular delicate nature and can be a taboo subject. It shouldn’t be – brought out into the open it helps to give the business direction and focus as they work in unison towards common goals.
When I work with any client, one of the first things I do is take them through some personality profiling to help highlight their strengths and potential limitations. The profile reports also provide a great insight into their communication style, values, needs and desires. Once in black and white, I have found that by sharing this information, it gives each family member an objective base from which to open up communication channels.
I have used this process with great success to get things moving with all my clients and it is particularly effective in family run businesses. If you want to find out more about how I help clients to establish their business vision, sign up to receive my download, ‘What’s Stopping You Step Up Your Business’ teleseminar. Just enter your details in the sign up box in the left hand column of this blog post.
KENT 2020 VISION – Come and meet me and win a free profile and feedback
You can also come and meet me at the Kent 2020 Vision Show at Detling on 7 April. At the show you will have the opportunity to win a strengths profile and discuss the findings in a 1-2-1 coaching session to help you to maximise your potential and build your business success.