Growth Newsletter

One of the biggest factors contributing to the success of family businesses can be attributed to the role of the spouse. It is also one of the most underrated and under rewarded roles for both its impact and effectiveness.

Over more than a quarter of a century, I’ve worked with hundreds of family businesses. I’ve seen a lot of what works and lots of what doesn’t. I’ve seen good businesses turn bad and I’ve seen bad businesses turn around and storm ahead.

I work with a wide variety of family businesses and over recent months, I’ve identified a pattern when it comes to the staff in those family businesses.

If yours is a family business that works in any trades based area, you’ll need to listen up.

In 2007, just prior to turning 40, I decided I’d treat myself. Up until that point in time, the biggest reward I’d given myself was an iPod Shuffle. Nope, I’m not kidding. 

Last week, we talked about disruption and how it is impacting the business world.

The world is subject to disruption at the moment. In many areas. And whether the left leaning, fire bombing protesters at the G20 in Hamburg, Germany in early July like it or not, disruption will continue – only the pace of it will change.

What is it with the owners and managers of family businesses and their ability to be distracted by shiny objects?

For most family businesses, the ownership and management structures are similar. The patriarch and matriarch might own and manage the business. Or, they may be the semi- retired shareholders with the next generation stepping into the management shoes in the business.

The owners and managers of family businesses are interesting people. When they first step into business, they’re entrepreneurial, enthusiastic and energetic. The learning curve is steep and with perseverance comes success.