General |
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Q: |
I expect to be succeeding my father in the family business in a couple of years. I am interested in Equitas' business diagnostic and how you might help us get ready for the change-over, but I fear that my father will be offended by the suggestion that we bring outside help in. How can I broach this subject without offending my father? |
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The initial meeting with our team is a very low key affair and the purpose is to help you to decide if you can work with us and if we can assist you. We really want to hear your story and how you will define success. We also want you to understand our methodology and the kinds of skills that we bring to the table. And we recognize that all families are unique and that there is not a one-size-fits-all solution out there, so it is pretty important that we spend the time getting to know each other. If your father understands that there is no cost to him and that mutual respect and honest dialogue are important parts of the process, he may be more inclined to take that first step. |
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My spouse is worrying about me, the kids, the family, our business ….. and can’t sleep either.
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Equitas’ approach engages and involves all close family members – we value their input and want to let them be heard. This will also help them better understand the shape of the business, and their role in its future.
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Governance |
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My dad and uncle started this business in 1960; they have worked well together for all of those years. My cousin has come into the business in the past 10 years and he and I never got along as kids, and haven’t done much in the business together since his entry. I see our future as being connected, but am unsure whether this is the direction that I want to go. How would you help? |
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We would help you delineate your strengths and weaknesses, your plans for your own future and your identity, where your best fit would be, and overlay that with your cousins and any other key people in the business. We would help you delineate skills around agreements and disagreements, and figure out a way for you to be aligned with your own passions and interests, whether they be in the business or not.
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We have no formal rules about how decisions are made in our business, or by whom. I worry that rules will create bureaucracy and are more trouble than they are worth.
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Governance provides a solid foundation for business decisions, but can be tricky to introduce. Equitas consultants will help you to navigate this process to successfully build confidence and clear responsibility among your management team.
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