Family
Business
Services
For the Enterprising Family
Healthy, Ethical Family Businesses Are The Backbone Of Society
Healthy, ethical family businesses are the backbone of our society.
Founders of family businesses understand that building a solid enterprise demands creativity, risk-taking, hard work, endurance, and often the willingness to prioritize the business over personal interests. Like farming, family businesses can experience periods of feast and famine. Family businesses typically reach a stage where they have a large, stable client base and a steady income, despite fluctuations in environmental factors.
Once a family business has moved beyond its initial stage and entered a period of steady performance and most likely growth, the owners should start thinking about who will take over when they're ready to step back, even if that's years or decades away. Preparing for succession, whether within or outside the family, requires time and focused effort, including developing new leaders to carry on the family legacy for generations to come.
Family businesses in their second, third, or higher generation have complex needs, including integrating more family members into operations, preparing future generations to expand the business beyond its current products and services, and involving earlier generations in preserving wisdom, reviewing, and supporting strategic initiatives that require capital approval. Larger family businesses often have family business councils or governance boards that hold annual meetings, which aim to engage family members, secure their support, and identify potential future leaders from within the family.
Family businesses may eventually reach a size where they create jobs for individuals not directly involved in daily operations, sparking interest from other family members. In those areas, family members may work for a Family Foundation, which provides needed support to the surrounding community. Some others may be involved in managing and growing the family’s financial interests and work for the Family Office.
Over time, healthy family businesses have done well to focus on a set of core values and principles that have guided them and motivated their exceptional efforts. Enterprising families that focus on and invest in their core values during both prosperous and challenging times tend to achieve success, build a dedicated workforce, and discover numerous opportunities to make positive impact and bring quality and goodness to those they serve.
Core Values
Faith Guided
Finding direction, grounding, and peace through deep dedication to the creator.
Family Unity
Prioritizing strong family relationships and harmony.
Long-Term Perspective
Focusing on sustainability and the well-being of future generations.
Honesty and Integrity
Emphasizing truthfulness and transparency in all actions.
Focus on Serving the Needs of the Community
By inventing and manufacturing goods, providing services, and creating important jobs for its member.
Respect for Employees
Valuing employees as part of the family and investing in their professional development and personal growth while providing fair and attractive compensation and benefits.
Community Involvement
Actively participating in and giving back to the local community. Many successful family businesses have established foundations to give back to those in need, thereby creating jobs. A family's focus on core values like these creates a strong culture, fosters loyalty, and guides decision-making within the business.
By prioritizing faith, family, and serving their neighbors, family businesses can thrive even in the most challenging circumstances and confidently move forward.
Our confidential focus is on enterprising families in the areas of the above core values.
Our experience is that when those core values are understood and followed, all aspects of the family and the family business run smoothly.
Family Business Services Offered
While the listing below is not a comprehensive overview of all our family business services, it provides a good understanding of the main areas of our engagement.
We typically support family businesses in specific areas of interest or conduct an in-depth needs assessment, which serves as the basis for our engagement conversation.
Our engagements are handled with confidentiality and respect.
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Midwest Family Business
Peer Groups
Peer Groups are a powerful learning and leadership forum. They provide a platform for idea exchange, family business education, as well as personal and professional development.
Our peer groups are designed for family business members at any stage in their leadership journey. There are options for Current Senior Leaders, Women Business Leaders, Retired Leaders and the Up-and-Coming Generation of Leaders. Participants connect with peers in similar positions within their businesses.
All peer groups are moderated by a trusted advisor. All conversations are confidential.
To decide which peer group is right for you, see the full descriptions.
Ownership Alignment
and
Strategic Planning
A solid, energizing strategic plan with buy-in from the family and the company team is one of the most important predictors of future success.
Facilitating its emergence takes creativity, focus and a deep understanding of what motivates stakeholders and clients.
When we put enough energy in planning for success and create the necessary conditions, it becomes almost inevitable.
Generational
Business Transitions
and/or Integrations
A solid plan and thorough preparation are necessary for a successful transition from one generation of family leadership to the next, including preparing those will assume leadership and those who will move on to roles such as wisdom keeper or board of governors member.
The key is to start planning as early as possible so there is plenty of time to prepare.
Having a solid succession plan in place will
guarantee the best possible outcome!
Business Transformations
and Turnaround Initiatives
Sometimes, a business reaches a point where income has declined, customers are dissatisfied, and they are leaving. Team members are alarmed, burned out, and frustrated, and everyone is in a crisis management mode.
At this point, doing nothing or treading water is unlikely to lead to a desirable future.
Embarking on a journey of discovery and transformation, on the other hand, may lead to a better sustainable future. With the appropriate guidance, this process does not need to be insurmountable!
Leadership Successions Planning and Preparation
Preparing the next generation of leaders in a family business is vital for ensuring ongoing success and a smooth transition, as it brings integrity, structure, and continuity to current operations, fostering an environment of trust and fairness.It fosters the understanding that future leaders are selected and prepared based on merit, commitment and especially character.
We inspire and facilitate the development of a practical, well-grounded approach to prepare and train future leaders for their future responsibilities.
Also, consider Family Business Peer Groups and look into Emerging Leader Peer Groups.
Leadership Development and Coaching
As defined by the Harvard Business School, leadership is “centered on a vision to guide change, while management focuses on achieving organizational goals through processes.” Both are required from effective business leaders!
Our Leadership Development and Coaching Program is geared towards senior family business leaders who want to finetune their skillset in both areas and work on their ability to communicate in ways that inspire trust, commitment and promote sustainable thinking.
Leaders enrolled in this program will participate in a number of helpful assessments and exercises.
Family Business Council
Holding regular family business meetings with key members of the enterprising family, and developing a Family Business Council, is essential for maintaining strong communication, aligning values, and addressing business matters among family members involved in the business and with their surrounding stakeholders.
Effective family business meetings require thoughtful planning, clear communication, and a focus on engagement to ensure productive discussions and outcomes.
Board of Governors Development and Search
Larger family businesses often have the need for a formal Board of Governors that may be composed of family and non-family members.
The Board of Governors refers to the leading body or council of an organization that oversees its operation and ensures its compliance with its objectives and policies. The Board of Governors plays a crucial role in governance, budget approval, and strategic direction.
Communication and Conflict Resolution
Harmony and dedicated leadership begin at the core of the family business and extend to every aspect of the organization.
Our extensive experience in Alternative Dispute Resolution with family systems and family businesses, as well as in Leadership Development and Personal Development Coaching, has led us to believe that effective communication and conflict resolution skills are two of the most essential traits of effective leaders.
Agreement and Policy Development
Developing agreements in the form of policies before they are needed lets families proactively address sensitive issues before they become real conflicts between family members.
Effective policies are not created from templates. They come from candid conversations about future scenarios and challenges and will represent agreements that the entire family will live by.
We work with you through an exploratory process that will determine what policies your family needs at this stage of the family business
Family and Company Meeting Planning & Concierge Service
Family Meetings and Family Business Meetings are a critical vehicle for effective communication and family collaboration.
Either meeting could be the ideal opportunity to garner support and input for strategic developments, generate interest among the next generation of family leaders, and build camaraderie that extends beyond the business.
We assist you in prioritizing the most critical aspects of your family and/or family business meeting, and provide support with scheduling, planning meeting elements, organizing lodging, and emceeing the meeting if needed.
Workshop and Presentation Design & Delivery
Effective Trainings, Workshops and Presentations are not only guaranteeing a good transfer of learning, they are also critical for the development of buy-in, shared direction, commitment and simply help businesses to be good stewards of everyone’s times and company resources. We assist you in planning and developing educational and informational opportunities from the start, and can also design and deliver the content for you if needed.
And... We Work With...
We work with providers chosen by families.
If necessary, we can recommend business partners
to assist in the areas of wealth management, estate planning,
estate and trust administration, transactional law and more.
If you work as a Wealth Advisor or in a Legal Advisor capacity...
... and you have a scenario you'd like to discuss with us, please use the comprehensive Contact Form on the home page to reach out and provide a brief description of the case and the solution you and your client are seeking.
