Untangling the Knots with Compassion, Creativity & Wisdom
It is easy to get tied up in knots over how to plan for the future - for yourself, your family and the next generation of leaders in your organization. Whether you are on-boarding, off-boarding or making a change in course, it helps to have someone who can help you develop and implement a road map that will accomplish your goals without sacrificing family harmony or business success.
The Victorio Consulting team provides coaching and guidance to individuals, families and organizational teams through transitions of leadership and career change. We help families and business teams work together better and create a platform for problem solving and future success.
We are committed to helping you achieve your goals without sacrificing family harmony and business success.
We believe there is no business gain worth a family loss.
Addressing emotional issues in a straightforward and safe manner is no easy task, and you will need guidance from an experienced facilitator. This requires a willingness for all parties to take a step back their individual desires to achieve a bigger vision for the family and the organization.
Providing a safe environment to discuss delicate issues.
Each organization requires a uniquely tailored program to provide an organized pathway for the next generation to understand, prepare for and pursue any number of management careers. Having worked with many families across the country, experience has taught us that it is important to clarify the expectations for educational and experiential requirements, provide a mechanism for communication and problem solving, most importantly define a development curriculum within the company so each developing successor will have a plan for advancement based upon their accomplishments.
Achieving a win/win/win means there are no losers.
Whether you are a partner in a professional organization or have a family business, it is easy to get tied up in knots over how to plan for the next generation of leaders in your organization. Combing through the many complicated layers that accompany private enterprises takes time, patience and a willingness to hear all viewpoints. Once each issue has been separated from the rest, it then becomes possible to weave the strands together to create the picture that everyone has participated in creating.
You can't run a family like a business and you certainly can't run a business like a family.
The successful family unit is centered upon unconditional love and acceptance; successful business relationships are based upon talent, experience and accountability. When you mix these two entities together, you are bound to run into complications and conflicting objectives.
Addressing these emotional issues in a straightforward manner is complicated and you will need guidance from an experienced succession coach to help you. Achieving a win/win/win outcome means there are no losers. This requires a willingness for all parties to take a step back from their individual desires to achieve a bigger vision for the family and the business.
How to facilitate a healthy transition for your business
If you are a business owner, key manager or employee of a company going through an organizational transition, such as a merger or leadership change, it is likely you will experience performance disruption caused by confusing messages, speculation or lack of information. And you are not alone. Often the planning for these important events happen behind closed doors with only the owners and advisers, leaving everyone else to speculate about the future. Business owners can avoid these challenges by being more transparent about upcoming changes and engaging everyone into the process.
When you have family in the business you will multiply the complication factor by 10. You can be walking a very thin wire between being happily working together or experiencing frustration within the business or in the family.
There is no business gain worth a family loss.
Initiating a family council by learning about the best ways to approach one another as difficult decisions are made makes it much easier to talk about other complicated issues. Using the ProScan Personality Index tool developed by Professional Dynametric Programs (PDP) we help families and business teams become aware of their natural styles of communication, leadership and organizational styles. Often conflict happens due to different personality styles, rather than it being intentional. The PDP survey provides an in-depth understanding of natural styles, assesses the stress the individual is feeling from their priority environment (how one feels others expect them to be) and measures the gap between natural and expected performance. This is a powerful tool that can enhance your understanding of yourself, your family and business team.
How does a family council work?
Once a family makes a commitment to using a family council, we recommend you develop a “Family Charter” to define the purpose and vision for having a family council and helps to define the core values that are important to communicate to the next generation. Objectives and goals are defined, which helps to keep everyone focused on creating an agenda for each meeting. With regular meetings and the integration of younger family members as they mature, this mechanism for problem solving and planning for the future will be passed on to each generation long after it was initially created, contributing to building the family legacy.
It is important for your facilitator to understand what you want to communicate to your family and also to survey each of the involved family members regarding their questions, concerns and interests, such as:
- What do you know about your parents’ estate plans?
- What do you want to know?
- What is your vision of the future?
- If there’s a family business, to what do you attribute its success, and what are some ways you can think of to perpetuate that?
What kinds of issues are discussed in a family council?
In laying out an estate or succession plan where a family business or any kind of considerable assets are involved, it is important to layer in the pieces of information to future stakeholders.
We explain the concept of the estate plan and the succession plan as generally or as specifically as is appropriate. It is important to provide understanding to siblings who are involved in the business are going to inherit voting stock in the business, and the non-active siblings might either receive non-voting stock or other assets like real estate or securities or something of a fairly equitable range.