Developing and Sustaining a Successful Family Business: A Solution-focused Guide

Description

This practical and important book offers ideas, examples, and suggestions that address the challenges inherent to developing and sustaining a successful family business. It explores the complex dynamics involved in working with loved ones and how to pass a business on to a new generation. Cover Endorsements Half Title Series Page Title Page Copyright Page Contents Foreword What Is This Book About? Author's Introduction Dramatis Personae How It All started Chapter 1: A Family Business Framework A Short History of Family Business From One-Man-Band to Family@business Family Businesses in the World The Family Business Is the Eldest Child Atomic Power Generation to Generation Family@business Challenges Reading guidelines Family Business Succession Succession Is a Process Succession Is the Bridge to the Future of Your Company Ten Best Practices for Creating Good Relations Notes Chapter 2: A Solution-Focused Framework The Solution-Focused Essentials The Esthetics of Change Chapter 3: Family and Family@business Life Cycle The Fundamental Challenge in Family@business Complexity Central Events Intertwining Life Cycles John and Annie John and Annie John and Annie Overlapping Systems Beware of Role Confusion John and Annie John and Annie The Company: Solution Builders International John and Annie John and Annie John and Annie Future Generations John and Annie Conclusion Notes Chapter 4: Education Is the Mother of Leadership John and Annie Education Is an Offer Age-Appropriate MUST-DO's MUST-NOT-DO's for All Ages TEN BEST PRACTICES for Preparing Your Next Generation John and Annie Chapter 5: The Big Question The Big Question John and Annie Assessment Work in Progress Basic Tools Trait or Skill John and Annie Ten Indicators of Leadership Potential Dynamic Assessment John and Annie Conclusion Notes Chapter 6: Challenges for the Next Generation John and Annie Formula P Four Challenges for the Next Gen Challenge 1 Morphing from Child/Offspring to Employee to Leader Challenge 2 Respect Challenge 3 Trust Challenge 4 Siblings John and Annie Now the Stage Is Set Chapter 7: How to Prepare G1 for Succession John and Annie Preparing for Succession John and Annie Invite a Family@business Consultant Ten Best Practices for Preparing G1 toward Succession John and Annie The First Family Meeting Conclusion Chapter 8: The Solution-Focused Toolkit Mark, the Family@business Consultant The Family@business Is a System Different Systems Have Different Goals Founders of the Solution-Focused Approach The Solution-Focused Consultants Meet Up Nothing Is More Practical Than a Good Theory The Importance of a Good Working Relationship Avoid Triangularization Solution-Focused Questions The Three Mandates The Mandate As a Leader The Coaching Mandate The Mandate as Process Manager, Part 1 T.E.A.M The Mandate As Process Manager, Part 2 Up and Downsizing Essentials of the Solution-Focused Approach The Solution-Focused Consultants Continue Resource Orientation Positive Thinking Is for Gurus Goal Orientation Note Chapter 9: The Solution Tango Protocol-Based Methodical Working Models A Client-Centered Approach The Solution-Focused Interview Infinite Possibilities The Solution Tango Step 1 Contact is the motor for change Step 2 Clarifying the context Step 3 Goal setting Step 4 Un-covering resources Step 5 Complimenting The Formula G-R-C The Solution-Focused Consultants Note Chapter 10: Conversations with the Siblings The Genogram The John and Annie Family The Sibling Interviews Cherly Mark Eric Ella Conclusion Note Chapter 11: Next Gen: Eight Tools for Your Future Generic Tools The Siblings The First John and Annie Family Meeting Eight Tools to Help the Next Gen Prepare For the Future The John and Annie Family Meeting, Continued The Use of Scaling Questions Q&A The Solution Focused Consultants do a Postmortem Conclusion Note Chapter 12: Generational Transfer, Sale, or IPO? Next Gen Scenarios John and Annie Scenario 1: Do Nothing John and Annie Scenario 2: Selling the company John and Annie Scenario 3: Interim Non-family Management John and Annie Scenario 4: Succession Within the Family Scenario 5: Management Buy-Out/in John and Annie Scenario 6: IPO and Family@business Covenant John and Annie Scenario 7: Permanent Non-family Management John and Annie Scenario 8: Ratatouille or 'a Bit of Everything' John and Annie The John and Annie Family Meeting Note Chapter 13: The Decision of a Lifetime Look Before You Leap Do Not Jump to Conclusions Tragedy Prenuptials Family@business Prenuptials The Decision of Your Lifetime Before you Commit After You Commit Marathon, Not Sprint Chapter 14: The Dance of the Stakeholders Who Is Where? Dynamics for the Three Circles Shareholders and Stakeholders Stakeholder Stewardship Family@business Goes for the Long and Sustainable Haul The Quintuplet People, Planet, Passion, Profit, and Pleasure John and Annie The Management Team of Solution Builders International The Management Team Meets up the Evening Before, Scene at the Bar The Management Team Meets With the Family External Stakeholders The In-Between Is Essential Change Is the Only Constant Differentiate Between Stakeholders Ambassadors Chapter 15: G1 How to Let Go after Succession? John and Annie Why Is Letting Go So Difficult for Every G1? Change is Inevitable Two Important Worries The Essential Skill Letting Go is a Complex Process Financial and Legal Aspect Emotional Aspect Psychological Aspect Relational Aspect Principle 1: Grab Something Else Instead Principle 2: Look at Your Personal Future Ten Tips to Help You Let Go John and Annie Chapter 16: Three Family@business Governance Tools The Governance of a Family@business Is Complex Three Family@business Governance Tools 1 Family Charter The John and Annie Family Meet Mark The John and Annie Family Charter 2 Family Forum 3 Family Stewardship Pater Familias, Mater Familias Family Stewardship Tools Why Family Stewardship Is Important Chapter 17: Three Family@business Management Tools T.E.A.M-Work Dramatis Personae, the Management Team Plus Family Plus Family@business Consultants Cynthia and Mark Three Tools 1 Resource Audit 2 Collective Ambition Solution Builders International, Staff Meeting The Collective Ambition for Solution Builders International 3 Business Strategy Solution Builders International, Staff The Usefulness Question The Service-Profit Chain Audit Chapter 18: The John and Annie Family Business, Ten Years Later John and Annie Eric John and Annie The Family@business Life Cycle, Phase 4 The Family, Eight Years Ago Cherly Ella Eric The Family@business Life Cycle, Phase 5 The Family Today John and Annie Cherly Eric Ella Solution Builders International, the Company Chapter Addendum 1: Little Note on Solution-Focused Mediation for the Family@business Chapter Addendum II: Is the Solution-Focused Approach an Evidence-Based Model? YES! Bibliography About the Author Acknowledgments Index