Family business
A collection of our latest insights on the challenges, opportunities and solutions that matter most for family businesses.
An invitation for irrecoverable loss: A delayed succession planning
Why do family businesses in India suffer to the point of their extinction or irrecoverable deterioration when placing a rightful successor? Why do most UHNI and HNI families even accept a painful, heart-wrenching, and gut-wrenching experience, despite succession planning methods, processes, and transitions available to them? Too few family businesses admit to accepting the pain
What role does purpose play in leading family businesses?
Front-running family businesses know that no amount of wealth, goodwill, or anything helps when it comes to making decisions that change the course of their next ten decades. What helps is a deep sense of purpose. Purpose – A deep call in the family that reminds them why they exist beyond their known material reasons.
Ownership thinks in money and leadership thinks in time
Its rather funny and even grave when you notice that leading family businesses haven’t yet formally decided (and if decided then acted) on timely succession. Why so? Why family-owned businesses’ stewards or the current generation legal ownership and operating command do not begin formal succession until they reach age tipping point or ailments or a combination
In making of the family constitution – Who should be involved?
Many esteemed business families ask us who should be a part of making of the constitution? Our response consistently is – All those who will be living the constitution must be involved in order to have the expected outcomes delivered i.e., the constitution must preserve, protect and prevail love, growth and prosperity. We understand that
Still Thinking Why To Have Everlasting Success & Harmony Institutionalised In Your Family Business?
Not yet have a constitutional system in the family for perennial growth & harmony – Is it because you have frozen feet, or you are frozen by status quo or worse, frozen motive? Let’s look at the sharply rising external environment in which family businesses compete: A vertical growth prospect – from today in 2022
So, what if it’s the epic opportune time for Indian family businesses?
Do we remain what we are or question what we are and make the necessary uncomfortable changes? There are talks about the Indian economy reaching a GDP of USD 30 trillion by 2050. There have been reports published in the public domain back in 2012 by Knight Frank and Citi Financial about the World Wealth by 2050.
The Family Constitution Serves The Interests Of A Family For Ages To Come: Truths & Myths
In March 2021, we were helping a proven, high stature and UHNI business family to move several of their mountains while defining their family constitution. We were on Chapter 67 of the constitution design out of the 104 chapters that we co-developed with them about a year ago whilst defining the project scope. Further, the
A well planned and methodically created succession plan serves decades of happiness, growth and love in the family
Planning of succession writes a prophecy about the family’s fortunes and business. Planning for succession isn’t about a successor at all. Planning for succession is about the success definition first & foremost that the family believes they deserve and want to create for the coming generations. It is about the identity of the family they
Losing togetherness. Losing grip & growth. Losing meaning. Eventually, losing the charm of family business or worse.
What would you recognise as more costly? Losing them all or spending in making your Family Constitution? Feeling togetherness in every beat of your heart with your family is a bliss. Speaking of togetherness to self & others but not feeling it would lead to a slow but sure disaster. You don’t need to be