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Edition 49 – Reflections on 2016

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 also feel it is an opportune time to reflect on 2016. The phones will go quiet in most family businesses for the week or so between Christmas Eve and the day after New Year’s Day. So, why not think about:

  1. What were your big wins this year?
  2. How did those wins transform your family business?
  3. What were your big losses this years?
  4. How did those losses impact on your family business?
  5. What did you learn?
  6. What should you have learned?
  7. What would you have done differently, if you knew back then what you know now?
  8. What would you have not changed and why not?
  9. How have you grown this year – personally and professionally?
  10. On the journey of where you are heading in life, what progress have you made over this day 12 months ago?

In the interests of encouraging everyone who reads this newsletter to really take stock of where they are at at the end of 2016, let me be vulnerable and declare my own answers:

  1. Establishing my own independent Family Business Advisory Practice and building The Family Business Transformer brand.
  2. It enabled me the opportunity to work more closely and spend more time with my own family.
  3. Patience – throughout the period of my transition to The Family Business Transformer I’ve had to learn a lot of things that I’ve taken for granted for years. I’ve been impatient in dealing with that, and with those closest to me.
  4. I’ve had to apologise a lot more often to those closest to me for being impatient.
  5. I’ve found my calling and passion in life and love dealing with every one of my clients.
  6. I should have learned that exercise will help me to clear my head and develop patience.
  7. I would have transitioned to The Family Business Transformer business model two years ago and run hard with the idea.
  8. My family. Without their support, commitment, loyalty and love, I could not have run with the opportunities that I have this year.
  9. Personally – I’ve learned to listen more to those around me. Professionally – I’ve learned to be unafraid to impart the total, unvarnished truth when it needs to be imparted and declare my beliefs and position without any sense of guilt.
  10. After 21 years of working for a single firm, and being a partner at that firm for 17 years, I’ve worked out that my time to do my own thing had arrived and that I’ve come a long, long way in a short period of time.

To everyone who reads this newsletter, I wish you the happiest of Christmases full of fun, good cheer and special times with your family and friends. May 2017 be truly transformative in your personal, professional, financial and family business lives.

This Week’s Tip

Put your feet up for a week, reflect honestly on 2016 and consider the opportunities that are at your feet in your family business, for your family and for yourself personally for 2017.
Merry Christmas and Happy New Year.