Consulting to Closely Held Businesses and Family Enterprises
Leadership of family businesses presents very specific challenges. Our approach to family enterprises, guided by training in Family Business Advising through the Family firm Institute combines an individual psychodynamic and systems approach to navigate strategic, generational and ownership transitions, while addressing the often conflicting capital requirements of the business and liquidity needs of stakeholders.
As consultants we address psychological barriers to succession planning, helping founders and owners plan properly and effectively for transitions, succession, or sale. Obstacles to careful, thoughtful, and timely planning may be rooted in the complex psychology of the founder and/or owner and in his or her family dynamics, all of which must be understood in order for appropriate business decisions to be made. We pay particular attention to the interpersonal, family conflicts that are frequently the source of business impasses, encouraging and assisting family members to have the critical and necessary conversations that for many reasons have been avoided. Our model, when necessary, incorporates the philosophy articulated in Thomas William Deans’ book, Every Family’s Business. Simply stated a family business should not be afraid to entertain options for sale, and must not allow the preservation of legacy to take precedence over the prudent assessment of the value of the business and the timing of a potential sale.