Frequently Asked Questions (FAQ)

Q:

How to Resolve Conflict in a Family Business?

A:

Resolving conflict in a family business is rarely easy. In fact, family business conflict resolution is a common service that we provide to family-owned businesses. When conflict arises in your family business, our first recommendation is to seek outside support in the form of a family business counselor experienced in conflict resolution and mediation. Family business counselors get people talking, identify root issues, and help family members find common ground in complex work and family relationships. A good family business counselor is worth the investment.

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Q:

What are the common causes of conflict in a family-owned business?

A:

Conflict in a family business can be the result of many issues. Most of which are legitimate concerns and result from important differences. In our experience, the most common causes of conflict in a family-owned business are: A confusion between family and business roles and systems, a rivalry or competition between siblings or other family members, a family cultural practice of conflict avoidance or dysfunction, negative or unhealthy communication and nepotism (selfishness) or a lack of common vision.

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Q:

How to create a Family Business Succession Planning checklist?

A:

Creating a Family Business Succession Planning checklist is relatively simple. First, identify and list all family business stakeholders. Next, determine each family-owned business stakeholder's goals and objectives. Third, identify the common themes among the stakeholders objectives. Fourth, determine if there is a enough shared themes to confirm that the family business will be transitioned to another family member(s). If not, the business could be positioned for sale to employees or to a third party. If there is enough common ground among family member stakeholders, seek out the advice of a professional family business succession advisor to help you craft a detailed succession plan.

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Q:

What is Succession Planning for a Family Business?

A:

Succession Planning for a Family Business consists of developing a comprehensive roadmap for how the Ownership and Management of a Family-Owned Business will be transitioned from one family member to another (or group of family members), or how a Family Business will be transitioned from one generation to the next generation. When developing a Succession Plan for a family business it is recommended to get professional advice from an Estate Planner, Accountant, Lawyer, and Family Business Succession Planning Advisor.

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Q:

How do I know if my Family Business needs a Coach?

A:

There are countless ways that a Family Business can benefit from a Family Business Coach. And there are many reasons why a Family-Owned Business may need a coach. Some common reasons why a Family Business may need a coach are: Conflict - family members are in conflict and have been unable to resolve the conflict on their own. Communicaiton - family members are having difficulty communicating with, and understanding one another, Business Performance - the business is not generating the profits that it should or could be, Human Resources and Leadership - the family business is having a tough time determining everyone's roles and responsibilities, or developing leaders within the family-owned business.

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Q:

What does a Family Business Counselor do?

A:

A Family Business Counselor helps Families in business together, and the individuals that make up business families gain understanding, clarity, annd healing with themselves and with other family members. The end result is healthier people, healthier families, and healthier businesses.

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Q:

What is Governance for a Family Business?

A:

Family Business Governance is the process of formalizing an internal structure in a Family Business that will guide how family members make decisions, meet, communicate, resolve disputes, and spend money. Many family businesses neglect to implement sound Family Business Governance and find that the culture that works for the business family does not serve the family business very well/

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Q:

What is Business Management for a Family Business?

A:

Business Management for a Family-Owned Business consists of implementing proven and sound business management fundamentals and systems into the Family Business. Business Management helps to minimize waste and inefficiency in the family business, better utilize human resources, and improve family business profits.

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Q:

How to choose a Family Business Advisor?

A:

When choosing a Family Business Advisor to help your Family Business there are number of things to consider. First, you want a Family Business Advisor that has owned and worked in a Family Business. Family-Owned Businesses are unique, and there is no amount of education or training that can replace real world Family Business experience. Second, you want a Family Business Advisor that has a number of years experience working with family businesses. Like any field, experience is invaluable. While you don't necessarily need to develop a friendship with your Family Business Advisor, it is helpful if you find a natural connection with your advisor, and find him/her easy to talk to and communicate with. Above all, you need to Trust your Family Business Advisor.

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Q:

Why do Family Businesses fail?

A:

Family Businesses can fail in the same way a non-family-owned business can fail. Low revenues, no profits, mis-spending and market downturns are all common causes of business failure. But for a family-owned business, failure often comes in the form of negative styles of communication, personality conflicts, family history and dysfunctional business and personal inter-family relationships.

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Q:

What are Examples of Family Business Conflicts?

A:

There are many examples of conflict in a family business. But common types of family business conflict include issues about power, money, control of the business, succession planning, business management, sibling rivalry, selfishness and poor communication. To resolve conflict in a family-owned business, we recommend reaching out to a qualified family business advisor.

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Q:

Why is Family Business Important?

A:

Family Business is Important because family-owned businesses make up the majority of small business ownership in Canada. Small family-owned businesses are a primary driver of the economy, and the largest employer as well. In addition, family-business is part of the fabric of every community.

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Q:

How is Family Business Different?

A:

Family-Owned Businesses are different than non-family-owned small businesses in terms of internal structure and complexity. Often, family-businesses are managed in a similar fashion to how the family is run. For example in a family, if the father is the dominant personality and everyone follows his lead in their family role, the same behavior patterns will often hold true in the family business as well. This confusion or overlapping of business and family roles can add complexity to the family business.

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Q:

Where to find Business Coaching Services Near Me?

A:

Congratulations, you found us! If you are searching for a business coach in Vancouver, Surrey, the Fraser Valley, B.C. we can help. We offer small business coaching and consulting, as well as family business advising. Contact us for a free conversation about your business.

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FAQ

1. Where do you work?

Formally based in Alberta, our office is now located in Abbotsford, British Columbia. While the bulk of our family business customers are from Western Canada, we are happy to work with family-owned businesses in Canada and abroad.

2. How do you provide your services?

Whenever possible, we prefer to work in-person. When in-person support is not possible, we will provide our services through all other means of technology like video, cloud-based support, etc.

3. What Industries do you serve?

We have worked in all manner of Industries over the years and therefore have a broad range of industry experience. However, our services are not industry specific, and have been proven to add value and solve problems across the economic spectrum.

4. Is my personal and corporate information confidential?

Yes. Whether you are receiving executive coaching, business management consulting, or family business succession planning, all information about you and your business is held in strict confidence. As required, we also sign Non-Disclosure Agreements and Confidentiality Agreements to further protect your interests.

5. How do you set fees for your work?

We determine fees after consultation with you on a case by case basis. We are focused on results that deliver tangible solutions and we work hard to provide you with a healthy Return on Your Investment.

6. What sets you apart from other consultants?

A lot.

Unlike large consulting companies who assign junior consultants to most projects after the work is awarded, when you hire us, you get the most seasoned and experienced consultants working on your project from start to finish.

We work hard to meet your needs and deliver the results that you, your family and your business need. And we are very good at doing just that.

We care. As small business people ourselves, we understand the many challenges that you face everyday. We work as hard as you do to make sure that your business is a success.

7. How can I find out if you can help me?

It's easy. Just fill out a contact card and email it back to us. We'll set up a time to speak with you and learn about your needs. Initial consultations are always free and come with no obligation on your part.