Call 01952 246612 for a no-obligation chat

Family Business 5 Minute Health Check Challenge

Some thought provoking questions for the modern Family Business.

As we approach the start of another new financial year, now is a good time to do a bit of  reflection to check that your ‘family’ and your ‘business’ are in alignment, for the health and prosperity of all those involved!

Take this 5 minute FAMILY BUSINESS HEALTH CHECK CHALLENGE and see where it leads:

A. Emotional Commitment

1. Do involved family members have strong emotional ties with the business? YES/NO

B. Ownership and Inclusion

2. Are relevant family members involved in decision making? YES/NO

3. Do family members gain a sense of achievement working in the business? YES/NO

C. Youngsters

4. Are younger members encouraged to be involved in the business? YES/NO

5. Are younger members helped to gain relevant skills for the business? YES/NO

D. Emotional Attachment

6. Are family members involved in the business because they want to be? YES/NO

7.  Do family members actively promote the business even when they are off duty? YES/NO

E. Entrepreneurial Spirit

8. Are new ideas from family members encouraged and embraced? YES/NO

F. Career Enrichment

9. Are family members given opportunities to develop? YES/NO

10. Are family members given a career path within the business? YES/NO

G. Future Proof

11.Is there an exit strategy/succession plan for the current business leaders? YES/NO

12. Are future business ideas and plans shared with family members? YES/NO

NB: Not all these questions will be relevant – but that’s OK – they are there to help you clarify what is relevant for your own particular family business and to explore if there are better ways of doing things.

If you have 9-12 YES’s, Well Done – you clearly have excellent communication channels between family members and are in good shape to take positive and united steps forward for the benefit of the business and the family. Please do share your top tips in the space below.

If you have 5-8 YES’s, Good – you are well on your way to have a cohesive family-centric business strategy, but do look carefully at your methods of communication, checking that it is a two-way process and actively seek the input of family members – you might be missing some great suggestions! Let me know if you’d like a few ideas to re-energise those communications.

If you have 0-4 YES’s Use this as an opportunity to look at things a little differently, question your methods, listen and seek feedback from other family members and perhaps even  share a bit of the business burden with some of them? Let me know if you’d like help facilitating these discussions.

For other Family Business Articles and Free Resources that might interest you, just click on the links below:

Family Business Fairy Tale (HR Video)

Keeping it in the Family

Family Business Charter

Fluttering Rights – an HR Story (FREE e-book)

I’m always happy to answer HR questions – just give me a call on 05600 434 727 or email me: kay@kayhealdhr.co.uk

 

Tags: , , , , , , ,

  1. Bev Heynes says:

    It can be really hard juggling the various hats I find I have to wear, both in and out of the office, but laughter is always a good way to go when all that hat juggling falls round your ears! Note to self : get a jesters hat!
    Being new to business I’ve made some mistakes and am grateful that other family members know more than me, are there to help and advise. Seems to me that it’s vital to involve family so they have a future stake in things and know I really am not ignoring them, I’m just trying to make a dream into a reality! (apologies for the cliche and obvious lack of work life balance!)

    • Kay Heald says:

      Bev

      Thanks so much for your great comments. I totally agree with ‘sense of humour’ – an underestimated ingredient in successful businesses! Best of luck with your new business – I’ve bookmarked your lovely website and look forward to following you on Twitter.

2 responses to “Family Business 5 Minute Health Check Challenge”

  1. Bev Heynes says:

    It can be really hard juggling the various hats I find I have to wear, both in and out of the office, but laughter is always a good way to go when all that hat juggling falls round your ears! Note to self : get a jesters hat!
    Being new to business I’ve made some mistakes and am grateful that other family members know more than me, are there to help and advise. Seems to me that it’s vital to involve family so they have a future stake in things and know I really am not ignoring them, I’m just trying to make a dream into a reality! (apologies for the cliche and obvious lack of work life balance!)

    • Kay Heald says:

      Bev

      Thanks so much for your great comments. I totally agree with ‘sense of humour’ – an underestimated ingredient in successful businesses! Best of luck with your new business – I’ve bookmarked your lovely website and look forward to following you on Twitter.