About Family Business Counseling:
Crises and Ongoing Support
Businesses owned and run by family members comprise the majority of businesses in the USA. They vary in size and revenues ranging from large corporations to small corner stores. However, while generally quite successful, only about a third of family businesses survive the first generation of ownership, and fewer are run by third and fourth generations.
Why do so many family businesses not survive?
The reasons accounting for the low rate of survival through the generations among such businesses vary greatly. Such reasons may be a lack of interest on the part of the younger generation to enter the parent's business and an inclination to pursue other career interests. Often, however, tension, distrust, quarrels among the family members make the prospect of entering or holding on to the business unattractive.
They say the problem is money. But is it?
People embroiled in family business say that the problem is always related to money. True, in the majority of the cases money is a real issue but usually it is a symptom for something else. At the core of the conflict lie unsettling relationships among the generations and/or siblings and their families. And of course, there is always the issue of control.
Control and love
The decision who controls the company and who has the final say puts the authority on a collision course with the feelings of love and care family members have towards each other. Thus, business decisions are interpreted, often incorrectly, in terms of relationships. As one family business owner put it: "In business school they taught me how to effectively manage a business. They did not teach how to manage family relationships."
Money and love
Money means different things to different people. Ask yourself: "What does money means to me?" While there is no right or wrong answer to this question the answers often reveal one's set of values, and provide the clue concerning some of the problems the family business experiences.
Do monetary solutions always solve the problems?
Not always. Sometimes they do. Yet in many instances, providing financial security to family members does not necessarily ensure everyone's contentment. Jealousy, feelings of rejection or unfulfilled entitlement, whether reasonable or not, upset the family cohesion and happiness. If not properly addressed such a situation may lead to painful challenges.
Crisis! Crisis!
Usually, family businesses contact us in a state of crisis. Typically, they have already exhausted legal avenues and found past solutions non-sustainable. We help families to move from a crisis mode to a working one focusing on mediation and problem-solving mindset.
Ongoing support
For family businesses that find it useful, we provide on-going support and follow-up programs. Once out of the crisis mode, family businesses may need follow-up monitoring to ensure that the solution put forth is working.
We offer the following counseling services for members of family businessess:
To learn more about our services, please click on a topic above or contact us
at 312-867-0200 or .
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