Family Business

Combining families and business is complicated.

The path to maximize your potential, build continuity, and strengthen your family strategic plan doesn’t have to be. Business Consulting Resources has over 40 years of experience working with family enterprises as expert advisors on family , businesses, and the successful transfer of leadership and ownership from generation to generation.

Family Focused Tools

  • Family Governance

    Creating and enacting a family governance process is vital to support the business's longevity. Leaders need to establish how the family will interact with the company and how the business will support the family's values and long-term vision. Does your family have a plan for your governance process?

  • Strategic Plan

    Strategic planning is essential for aligning family members – including operators, board members, and owners – to a shared vision for the organization's future. With clear common goals defined, families can focus on optimizing the methods for achieving them.

  • Succession Plan

    Planning for the next generation of leaders, whether relatives or trusted employees, will ensure the company continues to grow even after the founder's retirement. Creating a structured precedent for succession will safeguard the family's business aspirations through multiple generations.

  • Collabrative Leadership Development

    At the start of the succession process, designated successors won't always have 100% of what it takes to succeed in the roles they take on in the future. It takes a village to raise a good leader. We help you design collaborative leadership development plans that build capabilities and mentor the next generation of leaders of the family business.

  • Estate Planning

    The ownership transfer of the family business, while significant, is only one element of the overall Estate Plan. Real estate, investments, life insurance, and other assets are also included; developing an Estate Plan needs to consider all assets and beneficiaries comprehensively. Business Consulting Resources works with professional advisors to ensure your estate plan is in place and designed to meet the objectives and goals of your family.

Answers to Key Questions Every Family Business Should Know

Should the rising generation be required to work outside the family business for a period of time before they come to work for the family business?

To answer this question we must first determine what your family values are specifically in the kind of training and development that your family wants in the rising generation.

Really, the answer depends on if you want the incoming generation to have work experience before they participate in the family business.

Many families do require the rising generation to work outside the family company for a specific period of time. Some families even require them to achieve a promotion in their external job before they can consider coming into the family company.

If you don’t have a clear set of requirements for the rising generation there can be misunderstandings and unfulfilled expectations.

Business Consulting Resources will help you create a clear plan of action for your family business and the incoming generation to support a thriving legacy.

More Family Business Questions to Consider