Family-owned businesses are complex, integrated systems of family relationships battling pressures of the marketplace. These forces create unique issues and problems that are different from those experienced in non-family owned or managed companies.
At ReGENERATION Partners, we tackle the interrelated systems of both family and business. We focus exclusively on helping family businesses build wealth by solving family issues that impact the company’s value.
Our unique approach begins with a set of values and principles. Our work is driven by our beliefs that:
- Family is the foundation of all contributing societies.
- Business success is important to society.
- Ownership and management succession is inevitable.
- Conflict is inevitable and all families will experience it. Most will benefit from outside help.
- It is okay that some family members do not join or stay in the business.
- If you can only do one thing to secure your business, instill effective governance.
- Establishing clear business roles, rules, and responsibilities for family members is critical.
- Building a strong self-esteem within heirs is important to long term success.
- Effectively leading a family enterprise requires clear boundaries between familial and business matters.
- The business should not be used to solve family problems.
- Families need to have an identity broader than their business.
- Business rule #1 – No Surprises!
- Clear communication is the hallmark of effective leadership.
- Long term success requires common goals and shared values among owners.
- In order to achieve happiness, we must have something meaningful to do, something to look forward to, and someone to love.
- Every business enterprise can be improved.
- Fair does not always mean equal.
- Among enterprises that have achieved long-term success are the abilities to adapt, change, and learn.
- The bottom line of life is never money or things.
While there is no “silver bullet” to solve family business problems, these values provide the foundation to examine every situation individually and design a plan of action based on needs and proven solutions.