What the Family Business?

What the Family Business?

An active business owned and / or managed by more than one member of the same family. That is a family business owned by a family or a group of people in a family, it can be managed by the family or professional visit poverty in israel

The background for building a family business is:

1. Unity of family values. By having cultures in the same family will make it easier to establish a joint venture that will prosper everyone in the family members.

2. Expertise hereditary to the Product or Services. Typically characterize the family business is unique. His business is very different and has the particularity to those created by others in similar businesses. Due to maintain originality and business confidentiality to be able to survive and have specificity, therefore they only want to be managed and developed between close family only.

3. Improve Living Standard Family. The desire to get a better sustenance in the family and want to try to improve the standard of living better is also one thing that is also used as a reason to build a family business. Plus Minus family-run business:

Plus:

–    Value easier to unite together because it already has the same Value in a family.
–    By working capital can be created and arranged amicably and regulated simply.
–    Not required recruitment procedures are too complicated.
–    Wage and payroll system that is managed in a simple and is based on a family agreement.

minus:

–    No details Career Path in the organizational structure of the company.
–    The decision maker is always done by a family member who Dominant, rarely had a clear decision rule.
–    Value is always mixed business with family values, so hard to be professional in the family business
–  Too many referrals from several people in the family who feel really know the condition of the business undertaken, means the hierarchy of responsibility rather chaotic.
–    Good leaders are from families who sometimes do not necessarily master the right way.
–    Inhibiting professionals within the company to develop their potential is better.
–    Tend comfortable working environment, because the target sometimes becomes important.

In terms of the corporate culture there is no guarantee of the Family Business with a business managed Professionals will succeed very successful. Because many current family business that has become a professional and still be better and much more successful. And many family business run by the family can have a good corporate culture and very professional. So actually build a good corporate culture and is supported by all the people in the company, which strongly support the enterprise is a large and growing professionally. If the family team who manage these businesses would not open and learn about how a modern business is built, it is clear that the family business will not thrive. But there are no guarantees are also managed by the Professional businesses will thrive. So the key is how to respond to business developments and constantly innovate to remain competitive business. Pattern is exactly what makes a business will continue to grow for the better. Actually that makes such distrust, because of family businesses do not build their business a more professional system, so they are afraid of being lied to or deceived by professional people who they consider to be smarter than them. But if they want to learn and enlist the help of a coach to make his business more scheduled and regularly because they understand step by step build it, they will be easy to give confidence to the professionals to organize things even more critical in business.

My experience in a coaching obstacles often faced in assisting the family business is:

–   To get down to the next generation to experience the Gap in science and leadership, because of the lack of transfer of knowledge and skills estimated.
–   If the company is getting bigger, it takes time to train a professional attitude among the leaders who have been growing with the value of family.
–  Set the Value families in business so it does not overlap with the value of the business. (For example if the sister most small business leads, tend to sabotage her sister’s easy, because it uses the value of the family in the business)
In team work in the company’s leadership so much going dualism they also difficult to take a decision.

A great way to manage the family business:

1. Align Value in the family
2. Create a Vision, Mission clear
3. Goals Set measurable for an agreed period of growth
4. Create an organizational structure and a clear hierarchy.
5. Create a Job Description  clear, so that everyone in the company can be measured performance.
6. Create Management System and How the socialized system and run

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