Getting uncomfortable? Clarity must be within reach!
Let’s continue the series exploring the seven steps used to create and embrace …
STRUCTURED, COURAGEOUS CONVERSATIONS
Remember that clarity surfaces in Step 3 and Step 4, and then you design and hold two or three intentional planning conversations **. Key insights and discoveries regarding your Family, Business and Ownership systems are presented. It is here where your team learns about specific skills and strengths, the opportunities, and where the pressure points are. All ideas are presented in an anonymous way, meaning nothing is attributed directly to any one member. The data is summarized, synthesized, then presented to your team.
** Sidenote: Intentional planning conversations is a concept introduced in Step 3. These are meetings that are designed to create an open, collaborative, safe environment. The word ‘safe’ can mean different things to each member of your family. More to follow in later articles that provide tips to create this space and the tools you can use. For this article, let’s assume that this environment exists and everyone brings their best selves to these conversations.
Your Values emerge too. Simply, put …
Values are words and descriptions that tell your staff and customers what you stand for, and how everyone works together to achieve your mission and vision. Business values are typically rooted in your family values. These guide your actions and decisions, shape your culture and everyone’s behaviours, whether they are documented or not.
Action #1: Does your business have written values? If so, when were they created and have they been refreshed over the years? What process was used and who was involved? Many organizations have written values, but what matters is that they are understood and practiced. If your business values are not in written format, can you think of three to five words or phrases that come to mind…. That reflect your family and/or business. Write these down now.
The Power of the AND: Legacy AND Innovation
It is also at this step where we usually see lingering tensions between protecting the strong legacy of the business and innovating and adapting to remain relevant. These tensions often go unnoticed and unchallenged and are a common source of conflict in many family businesses. It is here where we discuss them, share perspectives and bridge gaps. The conflict is defused; mindsets are transformed.
By using “AND” among the two concepts,
We can openly discuss our perspectives, research, present a business case for both sides
We learn when it might be appropriate to stick with tradition, or when we can safely leap into the unknown.
We create principles and boundaries that can guide our decisions.
We discuss when it might make sense to create compromises
Here, we create conditions for the future generations to thrive, while the current generation lets go … ever so slightly. The open discussions provide confidence and space for this to happen. This is an art and a mystery to watch happen in real time and each family is unique in how this unfolds.
Sharing Family Business History - the Growth History Chart
One potentially transformative experience occurs during these meetings. The multiple generations come together to walk through the family business journey – early successes, trials, risks and the periods incredible growth. It is here that the next generation might hear these stories for the first time. Or more importantly …
they hear these stories with a fresh lens of a future business owner. Though they may remember the darker times, they were likely young and removed or protected from how serious or uncertain things really were. During this activity, knowledge and wisdom sharing is appreciated. Respect is earned and skills in building resilience are transferred.
Action # 2: Have a look at the activity below and jot down a few things that come to mind. Think about how your perspective might be very different from individual family member’s and think about the value of sharing some stories with them. What specific fears surface when you think about sharing something like this? Capture those too.
Contact me to receive a download of this activity you can use with your family and team.
Moving through the First Meeting
The first meeting can be transformative and uncomfortable. This is ok. The discomfort means that something important is happening and you should pay attention and lean into. What is presented here can typically be done in a single meeting – sometimes two depending on the history and your family relationships.
We intentionally stop the planning meeting here to foster individual reflection and document everyone’s thoughts and questions that surface. We plan the follow up meeting, which is usually about a week after.
Change only happens through reflection. Repeat this: Change only happens through reflection!
Intentional Planning Meetings… one meeting at a time
In our next article, we discuss what this looks like. We will get specific and granular here. Family business members generally prefer heading to the dentist than planning and attending a formal meeting. It doesn’t have to be this way! In fact, this is where the magic and true changes occur. Stay tuned!
Successful outcomes
This list from past articles is worth repeating. You can use this to think about your “why” for initiating these meetings in the first place, especially when things get uncomfortable.
Power shifts slightly, members feel seen and heard – they open up, share
Competing priorities are identified
Hidden expectations, assumptions and biases are questioned
Strengths, fears, uncertainties about the future are discussed
The tensions with legacy and innovation are clarified
CLARITY creates AGENCY, COURAGE, OPTIONS so you can build the FUTURE you want and reduce your FEARS.