“I think our family business needs help planning for the future. Every time I raise the idea, the other members of my family resist.”
This theme resonates in easily 25 percent of our initial phone calls from prospective client families.
What seems to be most effective in such situations is for the caller to cease and desist calling attention to the family’s “problems” and instead, bring to light for the family the normalcy and predictability of their situation and pepper it with statements like these:
- I’ve been doing some research on-line and discovered that family firms typically out-perform their non-family firm competitors.
- I’ve found some articles that not only describe us to a T but also have some pretty interesting ideas we may want to consider.
- I’ve discovered some interesting information on how family firms really are different – strategically and financially and I thought you’d be interested in taking a look.
- Did you know that empirical research and published works identify some remarkably different suggestions in the transition to siblings then the transition to cousins?
And, whatever else you say – it’d be helpful if you began with: our family business is so very important to so many people I took a shot at identifying what makes successful multi-generational families so successful.
What’s worked best for you and your family in recognizing the special qualities of family firm success?