Do you have a strategy in place to future proof your family business?
“That is a question every family business owner should be asking – and answering,” according to leading family business expert
Don Schwerzler.
In general, our political leaders, at all levels of government, have failed to take effective action to reduce government spending and to eliminate debt. Not hard to understand when one realizes that more than 50% of the people in the US do not pay taxes; entitlement programs are out of control; borders are not secure from illegal immigration and other security threats.
Frankly, the leadership failure has been so bad, the problems endemic at every level of government, that it is hard to imagine that the same political apparatus that caused the problems – is going to solve the problems! Case in point, the “weak-willed” options put forward to engage our country's current economic problems amount to symbolic platitudes and political posturing that will have the same results as trying to save the Titanic by re-arranging the deck chairs.
“So don’t expect your government to protect your family business – every family business should be taking immediate action to “future proof” their family business,” notes Schwerzler.
Schwerzler has been studying and advising family business entrepreneurs since 1967 – a career span of more than 40 years. He is the founder of the
Family Business Institute
headquartered in Atlanta GA.
STRATEGIES to FUTURE PROOF YOUR FAMILY BUSINESS
SWOT ANALYSIS
is easy to do and can trigger immediate action for taking corrective action on those factors (Strengths – Weaknesses - Opportunities – Threats) that can impact the performance of the family business.
CHAOS BUSTERS
is a management guide that poses 160 key business questions that can help bring clarity to policy and practices that can drive the growth and profitability of the family business.
FAMILY BUSINESS ANALYTICS
Analytics can be the key that unlocks the potential of your family business. Analytics enable the business owner to make fact-based decisions that will grow the business in size and profitability - significantly and quickly.
CHANGE MANAGEMENT
is a crucial element of every successful family business. It is no longer a question of “managing change” but how quickly a family business can adapt to change. Managing change is a crucial element to future proof your family business.
CONTINGENCY PLANNING
can help ensure continuity for your family business in the event of natural disasters like hurricanes, tornadoes, fires, floods as well as economic situations and problems (strikes, military actions, bankruptcies) that overnight can impact the supply chain logistics that disrupt normal business operations.
FAMILY BUSINESS SUCCESION PLAN
is a no-brainer for every family business entrepreneur that wants to future proof their company and to protect and preserve the legacy of their family's business.
NEXTERS
can have an important role in managing the succession process – why not make it part of their job description!
PROTECTING THE FAMILY'S WEALTH
wealth preservation strategies can help future proof and protect a family business from threats posed by excessive government taxation and regulation:
Family Limited Partnership
Captive Insurance Company
Executive Liability Insurance
Family Foundation
ENGAGE FAMILY BUSINESS EXPERT
who is experienced in dealing with family business dynamics – someone who can help grow the family business, help maintain healthy family relationships and who can help transition the business from one generation to the next (or prepare the business for sale if that makes more sense as an exit strategy for the business owner).
ADVISORY BOARD
is smart strategy that puts in place a “safety net” that can protect the family and the business should the owner of the family business die or become disabled.
MISSION STATEMENTS
for both the family and the business can be a powerful communication tool amongst family members, managers & employees, customers and vendors.
MANAGEMENT PLANNNG
can be the difference for a family business between succession or survival when times are tough or when the business is booming - but lacks the infra-structure to sustain rapid growth.
FAMILY BUSINESS FINANCE EXPERT
every family business owner should have and maintain a relationship with a family business finance expert – that is the advice offered by family business strategy master Don Schwerzler.
FINANCING A FAMILY BUSINESS
involves choosing from a vast array of alternatives. Debt or equity? Secured or unsecured? Are you at start-up, already launched, profitable, looking for exit/succession funding?
KEY PERFORMANCE INDICATORS
are those factors that guide the management of the family business. Knowing what the KPIs are for your family business can be the basis for better organizing the business.
ERP SYSTEMS
can enable the family business entrepreneur to create and implement the infra-structure needed to professionalize the management style of the family business and to future proof the family business.
GREEN MANAGEMENT STRATEGIES
are those business strategies that include awareness about environmental issues and then perfecting business policies and practices - then initiating innovative programs that create significance.
4Ps of MARKETING
are the basic building blocks for every family business and should never be taken for granted. The marketplace is always in a state of flux – and the family business marketing strategies need to be able to react quickly to change.
WEB SITE & SOCIAL MARKETING
technology, techniques and opportunities have exploded and are absolutely critical components of the family business toolkit needed to maintain a competitive advantage in the market place.
NEW BUSINESS IDEAS and BUSINESS INTELLIGENCE
are crucial strategies for family business owners who are interested in re-visioning and expanding the scope and mission of their business.
"WITHOUT A GOOD QUESTION A GOOD ANSWER HAS NO PLACE TO GO..."
CHECK THIS OUT - If YOU need answers to tough questions regarding your family business – WE CAN HELP!
Use the ASK THE EXPERT box (below) to contact us by email or if you prefer, call us at 770-970-0163. All contacts are considered CONFIDENTIAL.
Chaos Busters - The Management Guide
Identifies 160 Key Business Questions
- 160 Key Business Questions will stimulate creativity and innovation for your entire management team!
160 Key Business Questions are the keys to unlock the hidden potential of your organization!
160 Key Business Questions will save you time and make your work more effective!
160 Key Business Questions is a Multi-purpose tool with unlimited applications!
https://www.family-business-experts.com/chaos-busters.html
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How Well Organized is YOUR Organization?
Your Business Will Succeed...
If...
You have The Roadmap for Success
That's What
The Practitioner's Guide for Organizing an Organization
Is All About
- PGOO shows how to identify the most pressing problems to solve
- PGOO introduces the ODS-OL (Organizational Diagnostic Survey –Online) - an electronic assessment tool that is highly effective, easy to use, systematic and data-based
- PGOO explains how to produce a better-organized organization
https://www.family-business-experts.com/PGOO.html
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