Partner And Family In Business
If your company wasn’t structured with a partner or family member at the outset, either by necessity or skill requirement, you may have brought one (or several) on as circumstances required. A partner or family member can have a great impact on the business, however, sometimes it doesn’t go as planned. Bringing in a partner, or opening the door to family is much easier on the way in than in the other direction, and many times it’s way past the “expiration date.” Each circumstance requires a thorough advance plan. That plan should contain criteria for training, duties and responsibilities, performance measurement, compensation, outlining clear boundaries, and even an exit section if things don’t go as planned.
You try to be tolerant, complain at home about work, and feel taken advantage of. Your family member or partner doesn’t seem to be towing the line the way you anticipated, now you’re frustrated and trapped. If the time has come and you decide that change is required, you already know it is going to be challenging, can affect family and friendships, and potentially be very costly. As soon as you know inside that this is the time to take action, you are going to want perspective and reliable advice from a highly-qualified resource
Private Business Services
- Mitigate partner / family-in-business challenges
- Generational succession planning, training and implementation
- Process improvement – operation manuals
- Customer finding – marketing/business development platforms
- Skill improvement for future leaders
Family Business Specialist
My work in mitigating intra-family and business partner disputes has addressed chronic underperformance; opened eyes, and brought understanding and perspective to entitled players. I have instilled commitment, increased productivity, and facilitated separations as required. With skills developed in over 20 years of corporate assignments, three successful business start-ups and, since 1999, founder and leader of a very specialized small business consultancy, I have helped more than 200 companies, and their owners to grow, operate under control, and lead with inclusive determination.