Our business is selling your business.
  • Home
  • About Us
    • Buyers
    • WBDC Brochures
  • Sellers
    • You Need to Know >
      • Exit Strategy
      • You Are Not Alone
      • Bo Burlingham
  • Buy A Business
  • Our Blog
  • Contact Us
  • Eric's WarrenBDC Emails
  • Resources
    • DIY Proxy Valuation
    • 75 Things To Do When You Exit Your Business
  • Online Courses
  • Home
  • About Us
    • Buyers
    • WBDC Brochures
  • Sellers
    • You Need to Know >
      • Exit Strategy
      • You Are Not Alone
      • Bo Burlingham
  • Buy A Business
  • Our Blog
  • Contact Us
  • Eric's WarrenBDC Emails
  • Resources
    • DIY Proxy Valuation
    • 75 Things To Do When You Exit Your Business
  • Online Courses

Selling Your Business?

Get Tips & Insights Here

We Didn't Start Out To Be Family Therapists

2/16/2018

2 Comments

 
Picture
We didn't start out to become family therapists. It just happened. If you're the Owner of a family business perhaps you can relate to this week's message.

Working with family business owners is fun, challenging and very rewarding for us. Their business and personal lives are intertwined. More interesting is when you add in partners (and their families) who also own and run the company. Another layer of complication. Blood family or work family they typically interact very much the same. They are family and that means holidays and special occasions together, personal conversations and typically some fighting. Sometimes resolved and sometimes not.
 
If they are fortunate, respectful of each other and work hard at it the experience can be quite wonderful. If not it can get messy. As with any family dynamic everyone has their role and typically home actions are seldom different from work actions.

To keep the peace, you've learned to accept and deal with their peculiarities, their specific needs and the lack of change - no matter how hard you try to accommodate them. People don't change and hoping they will is a common theme in family businesses. Sometimes it only affects the family. Often the behaviour can reach into the success of the company and have a very real negative impact on non family/owner staff.

At some point you will determine that it's time to deal with the idea of transition. This is where we come in. If you think what I've written so far is even close to the truth wait until you start the transition process. The opportunity for challenges multiplies exponentially. Issues and ideas that have been tabled in the past, now need to be dealt with. Ambitions come out and the jockeying for position heightens.

Family therapy is only one part of the process, but it can be as key to your success as cash flow, sales & marketing, human resources and production. You will be riding two sides of the same sword, family and business.

You may think you have the family side handled until the serious conversation starts  about the business. Who will run what, who gets what and about a thousand other things you never thought you would be dealing with. This is why we take on the role of a 'family therapist' as well as a Transition Advisor. 

To address the many family and business issues that can come up, we make sure our Growth Strategists have family business experience to complement their business building background. In our process, both sides are covered and one without the other is not advised.  Remember it's a 'family business'.









2 Comments

1 Key Question for Business Owners

2/2/2018

0 Comments

 
Business Owners need to ask themselves this one question. The answers will come to them lightning fast. What stupid things am I doing to screw up a potentially successful sale or transition of my business? 

​Eric Gilboord
February 2, 2018
0 Comments
    Picture
    Sign up for weekly tips and insights. Click Pic
    Picture

    SellYourBusiness
    4More.com

    Picture
    Picture
    Picture
    Sample & toc

    Picture
    Picture

    Archives

    February 2023
    January 2023
    December 2022
    September 2022
    June 2022
    March 2022
    February 2022
    January 2022
    November 2021
    June 2021
    April 2021
    February 2021
    May 2020
    April 2020
    January 2020
    December 2019
    November 2019
    October 2019
    July 2019
    May 2019
    April 2019
    March 2019
    November 2018
    July 2018
    March 2018
    February 2018
    January 2018
    July 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    June 2016
    May 2016
    April 2016
    March 2016
    December 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    September 2013
    August 2013
    June 2013
    May 2013
    April 2013
    March 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012

    Categories

    All
    Business Lessons
    Life Lessons
    Life Lessons
    Marketing
    Selling A Business

Picture
Our Business Is Selling Your Business
​Contact Us  or call  416-270-2466

Sign Up For Eric's Emails