Innovative, smart and individually customized solutions for family businesses, business-owning families and the people within them, for the improvement of business results, increase of the value for shareholders and enhancement of family unity.
Family businesses comprise a considerable portion of the business world in Israel and throughout the world. Their unique characteristics and requirements, have inherent advantages, such as a high degree of commitment and long-term considerations; and there are also inherent challenges, among them managerial ambiguity, unclear specification of functions and authority, lack of coordination of expectations, and complex interpersonal communications.
When properly conducted, the integration between the business element and the family element can generate benefits for both the business and the family. However, disregarding the unique challenges will bring about the mixing of areas, with no real monitoring and subsequent harm to both.
Between the Business and the Family
Family businesses are coping with dilemmas and complexities deriving from the strong bond between the business element and the family element, and the need to navigate between business needs and family needs and expectations.
Among the common challenges: the lack of rules for employing family members and determining their salaries, conflicts regarding multi-generational management, concerns about the transfer of responsibility to the next generation and indicating the successor, who will be the one to take over the management role, mixing up the areas of management and ownership, lack of properly arranged systems of management and decision-making, putting family considerations first when making business decisions, sibling jealousy, dilemmas concerning integration of family members by marriage and many more.
This reality frequently leads to concerns and uncertainty about the present and the future that are transferred from the family into the business and from the business into the family. So how do you achieve both goals, business prosperity and family harmony?
How do you Maintain a Healthy Business and a Healthy Family?
Current studies show that successful family businesses achieve preferable business results and generate greater value for the shareholders, compared to businesses that are not family enterprises .
To achieve this business success while preserving family harmony, both in the present and in the future, it is necessary to recognize that “open-eyed” dealing with issues is essential. Disregarding sensitive issues and sweeping threats under the carpet, will not really solve anything, but eventually will create real damage. The same determination that is displayed in coping with business challenges should be mobilized to deal with the challenges of the interface between the business and the family, together with the process of preparing the business for the next generation.
From Challenges to Solutions
I specialize in counseling family businesses and partnerships, which have decided to professionally handle the challenges characterizing these businesses. This process is intended to ensure the stability and long-term growth of the business, and to maximize its value to the shareholders. At the same time it will maintain the quality of family relationships and the smooth transfer of leadership to the next generation in a natural, turmoil-free flow. The process is professional and focused, using methodology based on certain key disciplines with the focus on the specific requirements of the particular business and family.The result? Resources will once again be invested in promotion of the business instead of in tensions and concerns, the outlook will become clearer, while business results will reach their fullest potential. At the same time, the quality of relationships within the family will be enhanced and will develop.