Family businesses have a unique dynamic structure. While all businesses struggle with succession issues, compensation structure, and the decision making process, the family business has to superimpose long-standing family relationships, marriage, divorce, death and age-old family turf battles on these complex business challenges. Often documents such as buy-sell agreements, succession plans, compensation plans, and organizational structures should have been put in writing, but are not because “it’s family.” Family businesses also struggle with the question: “When is it time for the older generation to step aside and give more decision-making power to the next generation?”
Strategies has a signature medical model combined with proven management theory and hands-on experience for helping the family business work through all of these issues. As an unbiased sounding board, these advisors can see the big picture and understand the family dynamics that often overshadow sound business judgments. Strategies will work with each member of the family individually, including spouses and siblings, and the family group as a whole. The goal is to create a vision for the business and an implementation plan that will ensure the survival of the business for the next generation. It also works to create a cohesive leadership team and helps family businesses learn coping methods for dealing with issues that could potentially cause discord. Strategies helps the leadership of family businesses shift from negative behavior patterns and conflict emanating from family issues to sound business decision-making strategies that will ultimately enable the business to thrive.