Growth Newsletter

Not knowing the numbers falls a very close second to not having a direction for most family businesses. Personally, I find that astounding given the advent of mass computerisation in most businesses over the past 30 years. The uptake of MYOB, Quicken and Xero has changed the face of financial reporting for most businesses. Well, should have at least.

Would you ever go out, buy a Porsche 911 Turbo, bring it back home then set fire to it? More in a moment.

Engagement is, first and foremost, about your employees and how they work with (or against) you in your family business. Over the last ten years, I’ve observed a marked shift in the attitudes of employees towards employment. If I had a dollar for every business I know that has had employee issues, I’d be extremely wealthy.

One of my biggest gripes about the owners of family business is that too many of them don’t know where they are going. They have no plan for where they are looking to take the business. They are wandering aimlessly in a world chock full of opportunity. They’re doing what they’re doing because it’s the way they’ve always done it.

I’ve had a lot of conversations with a lot of people since I’ve made the transition to the Family Business Transformer in October 2016. Clients, colleagues, business associates and other family businesses that I know have all been talking to me about the issues they are experiencing in their family businesses, or in the businesses of others they know.

Happy New Year. Here’s hoping that 2017 brings you and your family good health, much happiness and unbounded prosperity.

I’m truly excited about the opportunities that 2017 presents for family business.

For most family businesses in Australia, 2016 will draw to a close in less than 48 hours. It’s a great time of year. Our children are on school holidays for six weeks. The weather is hot and the beaches are packed. We’re in middle of the season for celebrating Christmas with family and friends. It’s a time for winding down.

I was washing my brand new Ford Falcon XR8 Sprint one Saturday morning a couple of months ago thinking to myself, what a great car that John Bainbridge of Macarthur Ford sold me. I’ve known John for over twenty years, since his hair was dark and mine was present!

So, it’s time to upset the HR apple cart. Big time!

Over the past month I’ve held a number of meetings with clients whose family businesses are being derailed by the personalities that are inside of them. Notice I said personalities, not people?

Ubiquity. Most people have never heard of the term. It’s a big word. It has a big meaning. If you indulge in it, it may well yield big results for your business.

Ubiquity means everything, everywhere, all the time. If someone is ubiquitous, they are constantly in contact with you with offers and opportunities. In a lot of ways, they never leave you alone.