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Worldwide

Keeping it in the Family

By Doris Hofmeister, Partner

Region: International

Sector focus: Industry and Production

EVERYONE KNOWS THAT FAMILY CAN BE TRICKY. IT’S DOUBLY AS CHALLENGING WHEN IT COMES TO A FAMILY-BASED BUSINESS. THERE ARE ALL SORTS OF DIFFERENT CONSIDERATIONS TO CONSIDER WITH A REGULAR BUSINESS RELATIONSHIP; WHEN YOU ADD FAMILY INTO THE MIX, THERE ARE SO MANY ADDED RELATIONSHIPS AND COMPLICATIONS.
THIS SITUATION AROSE QUITE RECENTLY WHEN WE CAME IN TO HELP WITH A FAMILY-RUN BUSINESS LOOKING FOR SOME INSIGHT AND HELP. THIS WAS A GROWING BUSINESS WITH A LOT OF POTENTIAL AND ONE WITH THE FAMILY AT ITS CORE.
WHEN YOU’RE GROWING A BUSINESS, IT’S ESSENTIAL TO FOLLOW THE NEEDED PROCESSES AND STEPS TO SECURE PRODUCTIVITY AND SUCCESS. THAT ALSO MEANS THAT YOU NEED TO TAKE A HARD LOOK AT THE CAPABILITIES OF THE PEOPLE WITHIN THE ORGANISATION TO MAKE SURE THEY’RE UP TO SECURE THIS GROWTH.
AS WE SAID, IT’S A FAMILY BUSINESS, AND IT’S DIFFICULT WORKING WITH PEOPLE THAT YOU HAVE A PERSONAL RELATIONSHIP WITH. HOWEVER, OUR OBJECTIVE IS CLEAR: WE NEED TO GIVE A STRUCTURED, CLEAR, AND OBJECTIVE OPINION IN TERMS OF WHAT CAPABILITIES ARE REQUIRED, REGARDLESS OF IF THEY ARE RELATIVES OR NOT.
THIS OBJECT WAS NECESSARY FOR THE CLIENT; WE NEEDED TO CREATE OBJECTIVITY, NOT SUBJECTIVITY, AND GET AN ACCURATE AND OBJECTIVE ANALYSIS OF THE SITUATION. WE NEEDED TO MAKE A PROFOUND REPORT ON THE STRATEGY, THE COMPETENCIES, AND WHAT CAPABILITIES WERE NEEDED. IT WAS ESSENTIAL FOR THE SHORT-TERM, THE MID-TERM, AND IN THE LONG RUN.
IN THIS CASE, THE ANSWER WAS OUR MU LEADERSHIP ASSESSMENT. FROM THERE, WE SAT DOWN AND HAD AN OPEN DISCUSSION ABOUT SHORT AND LONG-TERM GOALS AND WHAT WOULD BE NEEDED TO ACHIEVE THESE. THIS BECAME THE BASE FOR HAVING THE MU LA INSIGHTS AND THEN DISCUSSING EVERYTHING ELSE IN THE FEEDBACK SESSION AFTER THE ASSESSMENTS; IT’S A PRACTICE THE COMPANY CAN REPLICATE FOR A LONG TIME. FROM THERE, THEY HAD A CLEAR OPINION AND DIRECTION ON HOW TO GO AHEAD IN THE FUTURE.

What did this case show? Well, it reinforced the fact that family is always tricky within a business. The strong bonds that can power a successful start to an organisation can quickly fray when it comes time to scale up. In that case, some outside help is always a good idea; the trusted, analytical, and proven insight of something like the MU LA is even more helpful to give the recommendations some proper weight. At Mercuri Urval, we act as a strategic sparring partner to find the right way to grow any organisation, or family.

Doris Hofmeister, Partner & Director
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