The Family Business

Family businesses have a uniquely dynamic structure. While all businesses struggle with succession issues, compensation structure, and the decision-making process, the family business has to superimpose long-standing family relationships, marriage, divorce, death, and age-old family turf battles on these complex business challenges. Often documents such as buy-sell agreements, succession plans, compensation plans, and organizational structures should have been put in writing, but are not because “it’s family.” Family businesses also struggle with the question: “When is it time for the current generation to step aside and give more decision-making power to the next generation?”

Strategies has a signature medical model combined with proven management theory and hands-on experience for helping the family business work through all of these issues.

As an unbiased sounding board, Strategies’ advisors can see the big picture and understand the family dynamics that often overshadow sound business judgments. Strategies works with each member of the family individually, including spouses and siblings, and the family group as a whole.

The goal is to create a vision for the business and an implementation plan that will ensure the survival of the business for the next generation. They also work to create a cohesive leadership team and help family businesses learn coping methods for dealing with issues that could potentially cause discord. Strategies helps the leadership of family businesses shift from negative behavior patterns and conflict emanating from family issues to sound business decision-making strategies that will ultimately enable the business to thrive.

Founders and Entrepreneurs

Founders and entrepreneurs have the power to guide their businesses to success and see the results of what is often a lifelong dream. It is, however, as the saying goes often “lonely at the top,” and the founder and entrepreneur become so mired down in the day-to-day operations of the business and wondering if enough money is coming in to make payroll that they often lose sight of the big picture and forget that dream. Often a team of trusted advisors is what the entrepreneur needs to get back on track. Sometimes it’s a safe and confidential sounding board to help them navigate strategic and tactical issues and create a safe haven to test out new ideas.

Other times it is someone to take a look at the business plan and see if, as the business evolves, it needs to shift and re-focus its priorities. The advisors at Strategies work with founders and entrepreneurs to help them achieve their goals, maximize their profitability and create a more effective organizational structure.

From assessing the entrepreneur’s business to creating a plan and its implementation, from forming an advisory board to developing an exit plan, Strategies is right by the founder’s and entrepreneur’s side every step of the way.

Partnerships

Partnerships can be an effective way of operating a business with a sharing of key responsibilities and the synergy of different talent sets. Every partnership has its own special set of dynamics and challenges, and those dynamics and challenges can change throughout the lifecycle of a business, especially when partners are at different stages of life and have different goals. In some cases, this can cause conflict, communication issues, and stress throughout the organization.

Strategies’ advisors help partners manage their conflicts and different management styles, thereby enabling them to focus on the business goals that will ensure the business survives, thrives and increases profitability. Working with partners individually and together, Strategies helps with issues of business planning, succession and exit planning, role clarity, joint decision-making and organizational effectiveness. Our advisors enable partners to clarify their vision, realize their goals and control their future, both as individuals and as a team.