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Shift Your Family Business                               Monthly Insights                                                  November 2016

Tip of the month:

FamBiz or BizFam?

I sometimes harp on the question of whether you are a Family Business or a Business Family.  

A well respected pioneer in the field is Peter Leach of Deloitte UK, who recently pointed out that this question doesn't necessarily have one single, simple answer, but that there is a sort of "pendulum effect" that often takes place.

He has a list of questions that a family can ask itself in order to determine where they are, and my favourite is this one:

  • Are business decisions ever made for family reasons? Are family decisions ever made for business reasons?

There is no right or wrong answer, of course, but the discussions that the family has when working together to consider these questions are move valuable than you can imagine.  Try it out, but keep an open mind, listen to everyone's answers, and please, no blaming or finger pointing!

 


What's new:

The "father" of the TCM

Speaking of respected pioneers, at the recent FFI conference in Miami, I finally got to meet Harvard's John Davis, who along with colleague Renato Tagiuri, came up with the ground-breaking Three Circle Model back in the 1980's.  

I thanked him for the quick turn around on my request to quote a chunk of one of his newsletters in my book a few years ago, but I was a bit too shy to ask him to autograph the back of my business card, which of course features his Three Circle Model.  Next time I will make sure to have a Sharpie on me.
 

YouTube ? Yes, I do

I have recently created a YouTube page which for now contains links to some snippets of a brief presentation that I recently did, where I was following the venerable Tom Deans, author of Every Family's Business and Willing Wisdom, which naturally come very highly recommended.  If you choose to watch them, you will surely notice not only lots of hand and arm movement, but also my passion for this subject (which is why my hands move so much!)

Link:     Steve's YouTube Channel
 


Blog of the Month:

"How to Choose a Family Business Consultant"

 


Outside link of the month:


From Deloitte Europe:

Family Constitution,: How is more important than What
 

The process that the family undergoes to create this governance document is more important than the end result.  

In other words, the journey is more important than
(and 
worth more than) the destination.

 

Until next month's newsletter.

I hope you enjoy my weekly blogs in between.



Steve Legler
MBA, CFA, FEA
Family Business Advisor
450-923-9393
http://shiftyourfamilybusiness.com/
 
 
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