Jan 21 2013

Beyond Best Practices … the Real Work

Best practices.  We strongly advocate sharing family business best practices at our Forums, in our Leadership Labs, and in our consulting practice.  Business families face extraordinary complexity as they seek to navigate, balance and make decisions about overlapping issues involving family, business and shareholdership.

However, the deeper “work” and conversations these remarkable families must enter into is far more fundamental than simple “best practices.”  Matt Wesley writes about this eloquently in his article, The “Best Practices” Shell Game.   Matt states that until a business family system develops competencies to adapt and thrive, none of the best practices will survive the complexity.   These basic skills have to do with “communication and trust, values and agreements, respect and compassion.”  We call this building family muscle work, and it involves creating “containers” that allow the family to learn these competencies together.  “By practicing these competencies in these structured containers, the family methodically gains the skills it needs to not only adapt to an uncertain future but learn to thrive in that future.”

As guides on the legacy family journey, we provide a common language to understand the terrain as they climb the family business mountains … a process to define individual and family desired outcomes or summits … the path ahead with mile markers to assess progress on the journey … and tools and an integrated team to navigate the emotional, technical, and financial curves and bumps along the way.

  1. What core competencies does your family need to develop and advance your values and legacy into future generations?
  2. How is your family going to gain the tools necessary to climb the family, management and shareholder mountains?
  3. What is your next best step?

Contact us today to learn how we can guide you along your journey!

By Sally Derstine, Managing Partner, DVFBC

Beyond Best Practices … the Real Work

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