Family businesses are distinguished from other types of enterprises by a shared sense of history, identity, and purpose. However, no family company can thrive without the unwavering support of the women in the family. It is fairly uncommon for women to play a big part in the early stages of a firm, but their function …
Women in Family Business – Changing role from Generation to Generation Read More »
The Succession Planning Survey Results Is your family business ready for ENTRY? Is your family business ready for EXIT? September 2022 Dear All In September 2022, I conducted a survey of family businesses. Around 70 participants responded to the survey. I am happy to share the responses with all of you. Family business succession is …
In a successful family business, at any point there are 3 phases at work “Learning – Doing – Teaching” In the founding years, the business is built on the founders early learning experiences of what worked and what did not worked. Unknowingly his personal values and guiding principles become the values and guiding principles for the …
The wheel of Learning – Doing – Teaching for Family Businesses Read More »
In family business, generally owners stay in present and are happy addressing problems of the day. Very few think about tomorrow. Those who think about tomorrow realise that tomorrow is not only a business problem, but is also a family problem. The more they think about it, the more it gets complicated. On family front, …
Who’s job is it to chart the future of the family business? Read More »
As your family business grows, managing your time becomes a crucial activity. You are forced to prioritize your activities, so you can focus on critical activities and address them. This is a natural response to the emerging situation. But when you are into an ownership position of a growing business, you cannot afford to miss …
Starting a business is relatively easy against scaling up the business. After years of struggle, business become successful and reach certain level of growth. It is important that the business then should continue to succeed. It means that the business has to shift gears and get into the next orbit of growth. Unfortunately, many businesses …
If I ask you the above question, I am sure most of us will reply as a Soldier. Primarily there are two reasons for this obvious answer – 1. Being a Soldier means that we are in the battlefield, in midst of action and fighting against the enemy. All of us like to be in that …
In your Family business – are you a Soldier or a Scout? Read More »
For past 15 days, this question was asked so many times by so many business owners, which made me think – What are we worried about? Most voiced a common concern– “Our Sales turnover will get adversely impacted – which will not be good for us.” Think about it, how valid is this concern? And how much real …
One of the key elements that we talk about in family business is sustainability and most of the time by sustainability, we mean the economic performance of the business venture. “Does it mean sustainability limited only to economic performance?” What sustainability means is the ability to maintain growth at a certain rate and conserving an ecological …
Your Family Business Susutainable Sandesh Mestry Read More »
Most Family Business Owners Are Happy To Be Caretakers Rather Than Changeagents.What Is Your Type?