09/01/16

FAMILY BUSINESS MORE RISK THAN RICH


Jum’an

Family business is defective! Most of the non-managing owners are only waiting for the money. From generations to generations. Owner succession planning by the standard wisdom sounds unappealing! No family business is conflict-free! Conflict is widespread when owners, directors, managers, family—have different needs, perspectives, and priorities. So, how can the future owners deal with conflict and become engaged in business decision making that sustains and builds the capital that has been created?
In reality the sleeping owners are also an asset, not a burden. They bring a different, but critical, viewpoint. They may have abilities and perspective that can help shape the vision and strategic way of the business. They are concerned about what’s the best decision for the family and the core capital. For a business-owning family, there is so much more at stake than money. Succession often triggers a radical change in family enterprise, and if not carefully managed, can turn a business in the wrong direction. 

Engaged Ownership: A Guide for Owners of Family Businesses, an outstanding new book written by Amelia Renkert -Thomas jointly founded Withers Consulting Group, an award winning international family-business consultancy is presented for family business owners and their advisors for building engagement among all owners, managing and non-managing. Engaged Ownership offers owners as well as their successors a new way to approach ownership of the family business. It gives you hands-on tools for growing core capital, including how to manage the transfer from controlling owner to shared ownership with minimized risk, while inspiring a sense of teamwork to sustain success for future generations. Amelia displays how to build a dynamic and effective partnership with trustees, board, and management, and become a successful steward of the family's financial, human, social, and operational capital

The process and challenges of achieving engaged ownership are illustrated throughout the book by the story of four children who are the third-generation owners of a family-owned business following the unexpected death of their father. The characters are entirely fictitious, but their story is put together from those of many family businesses, and it demonstrates how managing and non-managing owners can come together to make decisions about the future of the business and core capital. If you are an owner or member owner, business advisor, either managing or non-managing of a family business, this book is a must read!!!



 Amelia the Book Writer

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