The strength of social relationships and strong ties to their manager can distinguish the happiest employees from everyone else. Family business support can be the greatest asset of a family business. Workers who believe their supervisor cares about them as people are oftentimes more productive and more likely to stay with a company long-term.
Positive bonding within families is a critical factor in the long-term achievement of the family as well as the family business. Families that have a culture of love and support ultimately lead to more successful working relationships and family business success. Social investment and bonding in the family business is an invaluable factor.
Happy workers have higher levels of productivity, produce higher sales and perform better in leadership positions. Are the leaders and employees who work in your family business workplace happy? Is it a positive place to work? Happiness affects success in all areas of life, and especially in a family business.
Attitude is a choice and a positive attitude can benefit family business and individual career success. The benefits of business happiness and positivity are measurable and significant. Happy family business leaders result in a team of employees who are happy, healthy and more productive. Business happiness leads to success and achievement - not the other way around.
They key of success in business is positive psychology. It is imperative that families pay attention to their family culture, which can exhibit positive or negative elements. The goal is to find ways to achieve a positive focus for every family business. Positive psychology can change the lens through which family business workers view their lives and the world.
One way to build relationships is for family members to learn together by attending conferences, workshops or classes. When multiple family members attend family business education classes together, they learn new skills and ideas and they can discuss those ideas with the rest of the family and determine how those ideas may be of use in their own situation.
Successful family business relationships are key to holding a family business together. Some of the qualities families in business must have to be successful include: shared values, shared power, traditions, willingness to learn and grow, activities to maintain relationships, genuine caring, mutual respect, ability to support each other, privacy and boundaries.
The 10,000 hour rule summary implies that it takes a minimum of 10,000 hours of focused effort to develop a skill and even more to get to the point where others call a person gifted at that skill. In a normal job, a person works 2,000 hours in one year, and 10,000 in five years.
Strategic business decision making is related to consensus decision making in family business. Families that use a strategic business decision making process are committed to discussing issues until there is full agreement to move forward and implement a decision. If a family is committed to working together for the long term, it is best to embrace this model.
I was privileged to be a featured speaker at Family Firm Institute’s 26th Annual Conference in Brussels, Belgium this month. This was my twenty-third year presenting at the Global Conferences of the Family Firm Institute (FFI)! Throughout my career, I’ve always enjoyed connecting with audiences through these speaking engagements.
I presented my session with Dennis Passis, owner of Gate Enterprises Inc., a mid-sized family business. Passis and I met at last year’s conference and our conversations about professional orientation led to the joint presentation. Our talk, “What Informs Your Work with Family Business?,” resulted in a lively, 60-minute interactive session with the audience.
Jesus Casado, FFI Board member, said, "This was the best session in the entire conference!"
During our session with the audience, we spoke about how the values and fundamental beliefs of family business counselors provide the foundation for their work with family business clients. We discussed how those beliefs set the quality and tone for client-consultant engagement and become a determining factor in creating successful outcomes for the family business.
Thank you to Family Firm Institute for once again bringing together such an interesting group of experts, as well as owners and members of family businesses from around the world!
Family Business Matters has extensive experience assisting family businesses. With many decades of experience, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through conferences, continuing education programs, family business retreats, speaking engagements and private family business consulting services, Family Business Matters has assisted more than 450 family-owned businesses around the world chart their way through family business issues of all shapes and sizes.
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