The Solutionist Group in Melbourne, Victoria, Australia | Meditation centre

The Solutionist Group

Locality: Melbourne, Victoria, Australia

Phone: +61 414 816 789

Address: Level 5 / 485 La Trobe St 3000 Melbourne, VIC, Australia

Website: http://www.solutionist.com.au

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25.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 33: Family Succession & Continuity. Family Succession: transfer of leadership, and ownership of family wealth, between generations. ... Its big and can be more confronting than business succession. Relinquishing family leadership to the next generation can feel like a surrender on the way to the grave. It takes a lot of trust to feel confident that the new pilots wont sink the ship. And whats your role in the future if youre a lousy passenger? Solution: Build the Family Team: share responsibility early by initiating, negotiating and agreeing a Family Succession Plan with adult children, through an inclusive process, with everyone on the bus. Agree Plans for Family Stewardship and Legacy to focus objectives and expectations, and to allocate individual responsibilities. Help leaders to re-fire into the next phase of their lives - one that works for them and for everyone else. I'm interested in your experiences, thoughts and comments. Thanks https://anchor.fm//Family-Business-Mediator-Podc/a-a2laqse

24.01.2022 4.) Unmet Expectations & Broken Promises. When people feel dudded, betrayed, or unfairly treated, especially by people they believed they could trust - frustration, resentment, anger, and a strong desire for revenge, are common consequences. Conflict brews, and eventually spills over. Despite the admirable wish to believe that every family business is a haven of peace, integrity and high trust, the reality is that they are often environments of exceedingly low trust where, co...nsciously or otherwise, promises made are frequently not promises kept. #solutionist #succession #familybusinessconflict #familybusiness https://www.linkedin.com//4-unmet-expectations-broken-pr/

24.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 29. Rules of Engagement: Family to Business. Family business = private business > legal & practical ability to do whatever.... Founder generation often doesnt feel the need to formalise policies and procedures because they have complete control. Entrepreneurial founders may be very business-focused and largely non-empathetic towards staff needs. Most people prefer certainty to uncertainty, even if certainty creates pain. Lack of clarity, about almost anything, is a common cause of conflict, especially when individuals feel disempowered, insecure and threatened - a possible result of business culture. Rules of engagement are an attempt, to look objectively at how things should be done all the time, and especially during crises. Best to develop rules, and enforcement provisions, when opinions arent being skewed by emotions and stress. Family Rules of Engagement in respect of the business are captured in written Family Policies, Family Constitutions & Charters of Mutual Obligations. Solution: develop formal written rules, including implementation & enforcement procedures, via an inclusive process. I'm interested in your comments below. Thank You #familybusiness #business #conflict https://anchor.fm//Family-Business-Mediator-Podcast-No-29-

23.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 27: Employing Family Members. By Jon Kenfield. Solutionist.... Family business = private business, legal & practical ability to do whatever. Prime reason for many family businesses existence is to provide employment for family members, (especially those with sub-par employment prospects, in the eyes of their parents). More complicated in 2nd and subsequent generations, because there are more stakeholders, coming from multiple households exponentially more complex family dynamics. If family members fit in = OK, provided they arent resented by staff (loss of expectation of career path etc). If family member doesnt fit in - work ethic, personality, attitude towards staff etc, major issues. Good staff leave; loyal and bad staff stay. Loyalty is usually personal to the leader, not to the family. Junior roles are usually OK. Senior roles need to be on merit, or everybodys future is at risk, and staff push back is almost inevitable. Solution: establish objective employment criteria in the business (HR policy task). Create formal performance management system, with: o Detailed job descriptions. o KPIs. o Objective competency requirements. Make objective employment criteria a family requirement in an agreed Family Policy or Family Constitution document. Then it isnt personal, when the issue arises, and business and family procedures support each other. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-27-

22.01.2022 Succession Planning - Myths Vs Facts. In the wake of COVID-19 and the uncertainty it presents, it is imperative to revisit succession planning and understand what it entails to sustain and survive large businesses https://www.entrepreneur.com/article/354077

20.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No 39: Ownership vs Stewardship Theres natural conflict between the concepts of Stewardship and Ownership in Family Business. ... Stewards manage the familys legacy, and its shared business interests, for the benefit of current and future generations. Stewardship has a long term, inclusive, altruistic focus. Owners can do whatever they like with the business - its theirs. Conflicts arise when some family members regard themselves as Stewards, with obligations, while others see themselves as Owners, and resent any restrictions on their dealings with their business, or any other family assets. Solution Conduct a family meeting to discuss the conceptual and practical differences between Stewardship and Ownership. Facilitate discussions around family values and long-term intentions. Ask key family members to decide which way they want to go. Defuse conflict through empathic negotiations - try to satisfy different needs and interests. Create a Family Plan, based on agreed decisions. I'd appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-39

19.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No. 45 - Lack of Talent in the Family In competitive markets, talented leadership separates business success from failure. ... Business founders are often talented, driven, and motivated by creativity, frustration, opportunity, need, or family obligation. Successors may be less desperate! As businesses grow and evolve, their needs increase. Leaders may develop necessary skills, or not. The family talent pool may struggle to keep up. If a family insists on placing family members in leading business roles, despite manifest unsuitability, the business will suffer and the family will face conflict. Solution Identify Family Values. Are you family first, or business first? Develop a Family Plan, including Employment Rules. Assess family member capabilities and intentions. Groom family members for business roles, from childhood. Be realistic. Synchronise Family with Business Plans. Is the family talent there? What do you think? #succession #business #Conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-45

19.01.2022 50 Common Causes of Family Business Conflict and how to deal with them. Audio No 38: Sibling Rivalry Sibling rivalry occurs when one sibling competes with another over:... Position and authority in the family hierarchy. Status to the world at large. Perceived favouritism, at home or in business. Jealousy over things or affections. Personality differences, and poor communication, problem-solving and negotiation skills, are key factors. Sibling rivalry is encouraged by parental role modelling - especially normalising excessive competitiveness and aggression - including teasing when young. Family business makes things worse through unfair advancement, over-protection, power plays and favouritism. Solution Get some science into the equation! Use psychometric testing to produce personality profiles to facilitate discussions about human differences, and their inevitable consequences, over a lifetime. Establish objectivity in business HR functions: use performance, merit and contribution, rather than bloodline, to determine roles, responsibilities and remuneration. Separate business support from family support and have family members coached, supervised and mentored by non-family staff. I'd appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-38

19.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 37: Lack of Agreed Policies & Procedures FAMILY BUSINESS MAKES NO SENSE! Business families are even more complicated than ordinary families - because they combine a family with a business.... All complex systems require programming and/or a game plan to make their parts work together efficiently. Family Businesses are especially complex systems that require clarity and discipline to avoid confusion and conflict. Policies explain how things need to be done. They mandate best practices, create certainty, increase operational efficiency, and inject objectivity into human interactions. Lack of policies = lack of guidance = lack of discipline > potential clash of needs and interests > conflict. Solution Identify areas of conflict, or potential conflict, in family and business. Focus problem-solving discussions on these issues. Develop solutions. Document solutions as rationale + required actions = policies. I'd appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-37

18.01.2022 Megxit Is a Cautionary Tale for Every Family Owned Business Sure, you're not the queen, but your children aren't your subjects either. https://www.inc.com//megxit-is-a-cautionary-tale-for-every

18.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No 42: Family Values Values are personal motivators that make us do, what we do, the way we do it. Family Values make the family, and its business, act in certain ways, in certain situations.... When actions arent in line with values, conflict arises - individuals, families or organisations arent behaving as they should - they feel bad, and guilty, and often become aggressive. Extreme differences in values amongst family members can be almost impossible to reconcile, as theres no common ground. Solution Even in highly conflicted families, there are usually many shared values. If they can be revealed, the congruencies can be used to help establish empathy, build rapport, create mutual understandings, and encourage greater respect - delivering a foundation for resolving family business conflict. Skilful facilitation may draw out these congruencies. If not, try a psychologist. If theres no resolution, it may be necessary to exit one of more people from the business, to save the family. I'm interested in your own thoughts and experiences. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-42

17.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No 43: Poor Business Performance. Poor business performance creates financial stress, which is a common cause of Family Business conflict. Internal factors may include:... Under-performing and/or over-protected family members. Sibling sabotage. Overpaid family employees. Benefits cease to flow to family members outside the business. Growing business partner and shareholder suspicions. Solution Transparency - call a family meeting to explain business performance, financial situation and prospects using a trusted, non-family adviser (usually the accountant). Get the accounts audited if the business is large enough, or if the conflict is serious enough. Develop and announce plans to improve business performance and profitability. Be courageous, include staff changes, if required. Explore and resolve the underlying root causes of conflict. I'm interested in your own thoughts and experiences. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-43

16.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 24: Confusing Roles: Owners, Leaders, Managers & Employees. The Dotted Line! By Jon kenfield. Solutionist.... Conflict flows from confusion and attacks. A fundamental source of confusion is lack of role clarity. Another revolves around unjustified change. Thats not the same as unwarranted change - unjustified means not explained, therefore not accepted or supported. According to business best practice, leaders, managers and employees all have clearly definable roles in a business. Clarity provides Certainty & Confidence. Owners should be placed off to the side in any Org Chart. They have no definable role in the business, and their interests can clash with business imperatives. Owner interventions also confuse everybody in the chain of command. Solution: Create an Org Chart with a dotted line separating strategic & governance roles from operational responsibilities. Leaders (directors) should stay and operate above the dotted line (governance). Everybody else operates below the line (doing the doing). Leaders can go below if they have a specific operational roles. Develop detailed job descriptions and appropriate KPIs so everybody knows whats expected of them and how their performance will be measured. Establish discipline in the business structure - above and below the dotted line. And have an isolation box for owners to stay inside! All business employees need to perform. When owners try to re-write that rule (perhaps in support of a non-performing family member) business systems and discipline suffer. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-24-

16.01.2022 Audio No 35: Family Discipline Discipline Discipline comes in 2 flavours: ... a) Internal = self-regulation. b) External = controls + enforcement + consequences. Lack of discipline means lack of accountability and consequences - threatening family and family business functioning, and survival. Regrettably, Discipline is often avoided or ignored in family business, although thats where its particularly important to have good internal and external discipline to guide and enforce appropriate behaviours. Personality differences mean that some family members will be naturally disciplined, while others wont. Applying different standards, and inadequate consequences, creates conflict just as effectively as offensive behaviours. Solution Agree family business values and behavioural expectations. Formalise in a Code of Conduct and a Family Constitution. Monitor individual behaviours against expectations. Deal with transgressions and performance failures - sympathetically and decisively. Consider the need for coaching, counselling and even psych help. I'd appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediator-Podcast-No-35-

16.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 22: Differences Needs, Wants & Interests Video By John Kenfield. By Jon Kenfield. Solutionist.... Arguments and conflicts come from lack of: Shared Visions, Plans, Goals & Commitments. Shared Visions Goals, Strategies & Plans are aspirational focal points that start with built consensus & are sustained by continuing effort & performance. Lack of leaves people to invent their own expectations, realities, & stories - encouraging leaders to create their own paths, while followers get confused. Solution: take time & make effort to build, adopt & implement shared plans. Engage family members and key staff in the process. Use it to: o Encourage regular communication, meetings & problem solving. Increase communication & negotiation skills. o Increase respect as everybody has clearer expectations and assigned roles. o Build trust through observable reliability & performance. o Focus on larger goals whenever confusion, demotivation or conflict arise. o Share & increase personal and group resilience. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-22-

14.01.2022 5.) Fossilised Leaders Fossilisation in business is the process of rusting in place in a leadership role, by becoming more averse to change and innovation. It’s usually caused by age. We are living longer, working longer and, despite having to deal with a global pandemic in 2020, we expect to do far more in our lives than ever before. This encourages many people to tear up the old retirement rule book, and to remain active in their work, or at least in some form of work, unti...l they choose not to be. #succession #conflict #business #worklifebalance #people https://www.linkedin.com//jonkenfield_succession-conflict-

13.01.2022 Cut Through The Fog: Ten Test for A Family Business’ Succession Plan. Bert & I are stories of Down East Maine by Marshall Dodge and are best known for his dry sense of humor. In story is of how, when two lobstermen, the Captain and his mate, are out pulling pots, a dense fog rolled in. This being the days before radar, they could only rely on printed charts. The captain tells the mate to get the old chart book, but as the Captain open the book to the page they needed, a puf...f of wind came and blew that loose chart from the old book and into the water. Well now what do we do? asked the Mate. We get moving and get onto this here next chart, is what we do replied the captain. So, at its most basic, strategy is a way of thinking that shapes what you are going to do in the future, which is how to get to safety when the fog rolls in. Estate planning is an integral part of that thinking, but too often the strategic implications of the estate plan on the family controlled business is overlooked. https://www.forbes.com//cut-through-the-fog-ten-test-for/

13.01.2022 How to Avoid Conflicts In a Family Business ? The family businesses in India are the backbone of Indian economy. According to a recent Credit Suisse report, India has 108 publicly-listed family-owned businesses, third highest in the world, while China tops the list with 167 such companies followed by the US which has 121, says. https://www.entrepreneur.com/article/307029

13.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No 36: Personal Financial Security Personal financial security is confidence that whatever happens, you wont run out of money. It gets more attention as people get older and have less capacity to earn and adapt to challenges.... Fear is a major motivator. Lack of financial security, real or imagined, blocks many succession processes, and creates lots of conflict. Most business owners wont pass the baton until theyre sure that: (a) they have enough to see them out and (b) nothing that happens to the business after theyve gone will adversely affect them. Ages & Stages: the financial needs of outgoing business owners often clash with the remuneration and investment needs of incoming leaders. Solution Respect the tension between outgoing personal security needs and incoming current cash flow and business needs. Develop and agree a financial plan for outgoing family members to eliminate their business liabilities before they step down. Consider vendor terms for sale of business if there are no other options. I'd appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediator-Podcast-No-36-

12.01.2022 Eight Concepts To Help Plan And Manage Your Family Business. In his book Anna Karenina, Leo Tolstoy wrote, All happy families are all alike; each unhappy family is unhappy in its own way. Known as the Anna Karenina principle, this applies to succession planning in family business as well as statistical significance tests, the failed domestication of animals, ecological risk assessments and losing sports teams. https://www.forbes.com//eight-concepts-to-help-plan-and-/

12.01.2022 The Art Of Designing A Board That Can Pull Your Business Through Crisis. The Covid-19 crisis is unlike anything weve seen before. Not only is this pandemic unprecedented; its having a different impact on different industries. https://www.forbes.com//the-art-of-designing-a-board-tha/

12.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 34: Family Dysfunction. Family Dysfunction ... Dysfunctional families display destructive behaviours and conflicts. Causes can stretch across generations. When dysfunction projects personal angst into a family business, conflict is the likely result. Families are complex systems that need to work well to function, and survive. Family systems need to be flexible, to cope with different personalities and changing circumstances. All systems seek balance. Accommodation unbalances family systems - denials, delusions and excuses send family resources (emotional / practical / financial) to support one or more individuals and produce the wrong result: greater unbalance, dysfunction and conflict. Solution Families need to be honest, courageous and realistic - serious dysfunction must be dealt with, promptly and decisively. If the family system is: a) Damaged: get external help to address causes and fix the problem(s). b) Broken: get external help to develop a go-forward plan to save individuals, the family and the business. I'd appreciate your thoughts. #business #conflict https://anchor.fm//Family-Business-Mediator-Podcast-No-34-

12.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 28: Expectations & Entitlements. By Jon Kenfield. Solutionist.... Family membership may create unjustified and unsupportable expectations of rewards or benefits from the business - cars, phones, credit cards for personal expenses etc. These are sometimes caused by parental generosity that becomes unsupportable on an economic basis. Family employment raises obvious Performance & Remuneration issues. Popular myth that family members must put in 120% effort by employees. Rarely achieved, except in founding generation. Sense of entitlement is a common problem: o Protected species. o Rewards / high pay for family name - not for effort, contribution, or ability. o Job security without objective accountability, resentment amongst hard working family members and staff. Parental promises are often taken into the business, without disclosure. Usually creates clash with other staff, managers and supervisors, and HR policy in general. Parental obligations taken into the business create problems between parents when rose-tinted expectations are deflated by work realities. Solution: establish objective employment, performance measurement and reward criteria in the business (HR task) and ensure its congruence with family rules. Satisfy family expectations that are not proper business considerations out of family funds, transferred out of the business. There you can apply whatever family criteria seem good to you, without reference to commercial commonsense. Make objective employment criteria a family requirement in a Family Policy or Family Constitution document - then it isnt personal, when the issue comes up. Ensure that the policy is congruent with business HR policies and procedures. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-28-

12.01.2022 Family Business Challenges; The 3 Issues Families Cant Ignore. All businesses and those who own them face challenges at various points in their life cycles. These encompass things like talent acquisition, resource and cash flow management, growing competition, increasing regulation and fluctuations in not only the economic environment but consumer spending and loyalty. https://www.forbes.com//family-business-challenges-the-3/

12.01.2022 Avoid The Common Pitfalls Of Family Business Boards. Serving on any board of directors is not without its difficulties, more so when it comes to family-owned businesses. Even those with established, professional boards comprising of independent directors and sound governance processes may encounter challenges due to the family's role on the board. https://www.forbes.com//avoid-the-common-pitfalls-of-fam/

11.01.2022 Passing The Torch: Succession Planning For The Family Business. Family businesses are the backbone of economies around the world, constituting a crucial source of wealth and employment in both developed and developing countries. https://www.entrepreneur.com/article/249088

10.01.2022 James Murdoch Quits News Corp Board Over Editorial Issues. James Murdoch abruptly quit the board of News Corp, the holding company for his familys newspapers Friday night, citing disagreements over certain editorial content published by the Companys news outlets and certain other strategic decisions. https://www.forbes.com//james-murdoch-quits-news-corp-bo/

10.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 40. Buying & Selling Interests in the Business Conflicts occur when family members are obliged to retain ownership in a family business they want to sell, or exit. ... Frustration over practical and financial issues, and resentment of a perceived lack of respect and trust from other family members, can produce a full-blown sense of betrayal. Families are often conflicted about their responsibility for protecting the familys legacy. There are 2 options: Stewardship and Ownership. (a) Stewards feel obliged to protect and nurture their legacy for the benefit of current and future generations; (b) Owners focus on their own needs and interests. Solution Resolve the threshold question: are we Stewards, or Owners, of the familys business interests? What are our values? Are we applying them? Agree criteria and mechanisms for buying and selling interests in the family business. Document same in a Family Constitution and formal Shareholders Agreement. Id appreciate your thoughts #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-40

10.01.2022 3.) Human Diversity - Ages & Stages. We don’t pay enough attention to the effect of different ages and stages on people's thinking and behaviours. This raises real issues when family members working together in a family business are at different ages and stages in their respective lives. We see this most powerfully when two or more generations of a family are working in a family business. Let's just consider a two generation business:... https://www.linkedin.com//3-human-diversity-ages-stages-jo

08.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 32: Business Succession & Continuity. This is big! ... Business Succession: transfer of leadership and ownership, between generations. Very confronting for patriarchs and driven entrepreneurs. Outgoing leaders have reservations about stepping aside; incoming successors want to claim the drivers seat, and its controls. Tensions rise over personal and business issues: Outgoing leaders need financial security and release from business liabilities. Incoming successors demand freedom to inject their ideas and personalities into the business - to effect transition and feel like a leader. Staff and adviser changes discard corporate knowledge and reduce internal stability. Solution Make business succession a planned and managed process over time - not an event, or crisis response. Include succession planning in Business Strategy Plans, with a declared handover date. Get everybody committed to The Plan. I'm interested in your experiences, thoughts and comments. Thanks #succession #business #conflict https://anchor.fm//Family-Business-Mediator-Podc/a-a2laqse

08.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No 41: The Next Generation. A family business requires at least 2 family members to be owners and/or operators. Multi-generational family businesses span more than one generation, although few pass the 3rd generation: make it > take it > break it.... Families that transition well from having a business to being in business become Business Families. They dont get there by hard work and luck alone - they all had plans, and they carried out their plan, over multiple generations. Conflicts arise when generational values and aspirations arent aligned. Solution Engage the next generation as early as possible. Teach them the ethos and operations of the family and its business. Education produces enlightenment and commitment. Build next generation teams. The next generation will only work well together in the business if they want to - forcing them together is a recipe for misery and failure. Parent well, without cloning - the next generation should stand on your shoulders, not in your shoes. Id appreciate your thoughts. #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-41

07.01.2022 Blog #5 - Fossilised Leaders Fossilisation happens when an aging business leader rusts in place and becomes averse to change and innovation. As we live longer, we want to do more with our lives than ever before, but when fossilised leaders use power, rather than good sense, to continue working in the family business, conflict is likely to follow. ... https://www.disputesolutions.com.au//blog-5-fossilised-lea

07.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 25: Competing Financial Interests Family Vs Business Needs. By Jon Kenfield. Solutionist... Classic cause of conflict - competing financial needs and interests. Family needs money to live on; business needs money to ensure sustainable trading. Family money is for personal use, which may be necessities, luxuries, or anything in between. Time frames are personal and subjective. Business money is to maintain competitiveness and generate profits. Time frames are commercial and objective. Assuming money is a scarce resource, getting the balance right is always challenging. Solution: Clarify personal and business needs and expectations (long term perspectives make it easier to suffer short term pain). Develop financial plans so everyone knows what is likely to happen and what their role is in making it happen. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-25-

06.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them Audio No. 44 - Retirement & Other Exits Generational transition, aka succession is THE major cause of conflict in family business. ... Retirement means: to put out of use - a terrifying prospect to active individuals who hang on too long, contrary to promises and commonsense. Retirement should be a process, not an event - planned, managed and implemented over time to avoid culture shock, and bounce back. Solution Include retirement in Succession Plans within Strategy Plans. Openly declare a specific leadership handover date. Get the outgoing leader ready, willing and eager to exit. Turn retirement into a celebration, not a threat. If a leader cant stop working, help them refire into a new life stage. If necessary, create Board roles, to assist moving from operational towards governance responsibilities to allow new people, with new ideas, into the driving seat. What do you think? #succession #business #conflict https://anchor.fm//Family-Business-Mediation-Podcast-No-44

06.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 31: Decision Making: Family & Business. Many business families, even large and sophisticated ones, dont have any coherent form of problem solving or decision making process. Up to a point, decisions can be made autocratically, without concern for scrutiny or opposition. Beyond a tipping point, this no longer works, and family members, and/or employees, object to decisions being made withou...t their input, or insist on decisions being made with their input. This is often seen as a challenge. It may be accepted willingly, opposed violently, or anything in between. Strategic decisions are big decisions that may have a major impact on the family and or the business. Big decisions cannot safely be made without adequate information, due consideration and appropriate consultation. Solution: As a family or business group, develop and commit to a formal problem solving and decision making process, appropriate to circumstances. Practice using the process on small matters before putting it to the test on important, strategic issues. Document decisions made according to due process for a Board, Family Council, etc. I'm interested in your comments below. Thank You #familybusiness #business #conflict https://anchor.fm//Family-Business-Mediator-Podcast-No-31-

06.01.2022 3 Simple Steps To Develop Successful Family Business Leaders. Family-owned businesses form an integral part of the global economy, yet they are not immune to certain unique leadership challenges, especially when it comes to succession. Many believe that leaders are born and heirs with "success in their blood" or those identified as having "the right stuff" early on, will naturally become successful next-generation leaders for the organization. https://www.forbes.com//3-simple-steps-to-develop-succes/

05.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 26: Modernising & Professionalising the Business. By Jon Kenfield. Solutionist.... Clash between old and new, conservative and progressive, positive and negative, proactive and reactive. Usually an inter-generational, age-based issue. Incumbents are invested in past and present; successors are looking to the future. Aged owners may be fossilised - they either resist change, or cant physically make changes. Common for upcoming generation to invest too much in IT to marginalise owners / parents. When it goes wrong / over-budget - creates conflict and concerns re judgement of potential successors. Also common for parents to indulge next gen by allowing them to enter into contracts that stamp their authority on the business - enthusiasm and poor judgement can make this go horribly wrong - and threaten the business as a consequence. Solution: Take a gentle approach. Negotiate acceptance of change through inclusive planning (on-boarding) and help with visualising next life stage. Create new, appropriate and attractive role for elders as Sponsors of change, using family members and interests to create extra leverage. Move human blockers into non-operational governance roles so they cant interfere with change project. Empower staff to make changes - reduce dependency on current leaders and create experienced support team around ascending generation. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Video-No-26-Mo

05.01.2022 Keeping It In The Family: Tips For Building A 21st Century Family Empire. How do you keep your personal and professional relationships defined? Is conflict always a sign of a problem, or is it necessary for growth? ... https://www.forbes.com//keeping-it-in-the-family-tips-fo/

05.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 23: Ages & Stages, Conflicting Financial Needs. By Jon Kenfield. Solutionist.... Major cause of conflict - generated by different needs during different ages & stages, compounded by lifes usual complexities. When young - home & mortgage / family / school fees / collecting toys + prospect of many more years in the business. Willingness to invest in risk - less to lose and more to gain. When old - fewer operating expenses, but long period of not working and not earning is now an immediate concern. Less return on investment in business and greater need for personal financial security - more focus on self, and less on current & future business. Fear that family members (usually not those working in the family business) will be left having to support aging and ailing parents. Solution: individual & collective financial plans that address everybodys (especially parents ) needs as well as possible, & reassure the whole family that things are under control. I'm interested in your comments below. Thank You. https://anchor.fm//Family-Business-Mediator-Podcast-No-23-

04.01.2022 Blog #4 - Unmet Expectations & Broken Promises. Everyone resents feeling betrayed, or unfairly treated, by people they trust. Frustration, resentment, anger and conflict, follow. Anything with Family in its name should be a haven of peace, integrity and high trust, but the reality can be different in Family Business - where promises made are often not kept, or delivery is delayed to pointlessness. ... https://www.disputesolutions.com.au//blog-4-unmet-expectat

04.01.2022 5 Ways Family Businesses Can Adapt To Covid-19. There are unique challenges with a family business, particularly when it comes to making tough decisions in difficult times, a friend of mine who runs a leisure and hospitality business with her siblings, wrote me this week. https://www.forbes.com//5-ways-family-businesses-can-ada/

02.01.2022 50 Common Causes of Family Business Conflict ... and how to deal with them. Audio No 30. Implementing Change in the Business / in the Family. Family businesses are often quite isolated in their own bubble of family, business and industry.... They can be very good at what they do at a point in time. But, if they fail to fully engage with the outside world, and markets, they get left behind. Avoidance of objective performance measurement criteria, Challenges to current / established business practices can be taken personally (as accusations of failure) and get blocked - causing quality employees, and family members, to lose faith in leaders. Change causes fear. Humans prefer current pain to prospective change. Young people are less set in their ways and have more capacity to recover from disasters. Personality differences and personal values also play a big part: goal focus vs process focus, people vs profits etc. Motivation isn't the same as Activation, Implementation. Solution: negotiate acceptance of change, build consensus through careful information gathering, planning process to generate organic demand, manage pent up demand. I'm interested in your comments below. Thank You #familybusiness #business #conflic thttps://anchor.fm/jon-kenfield/episodes/Family-Business-Mediator-Podcast-No-30-Implementing-Change-in-the-Business--in-the-Family-egf3kj

02.01.2022 How a Culture of Values Preserves Family Fortunes When acclaimed wealth creators pass away, their families often wonder who can possibly take their place. They envision that one of the young heirs will brilliantly carry on the work and take care of the growing family. https://www.forbes.com//how-a-culture-of-values-preserve/