Most of our businesses are family business or going to be one, when our children, wife or relatives joins in.

One of the major challenges that family businesses face is lack of clarity on policy matters and business norms. Sometimes, the business will have these norms, process and policies. But the ones that's applicable to his son or relative will be missing.

Resulting in confusion, ego problems, conflict with managers etc.

This can be avoided, if upon the entry of a family member, it is made clear to him,
1. what the business policy on various matters is (ideal to have it officially written),
2. where he is on the organisation chart (it should have one),
3. who he should report to,
4. what his job description is and what it is not (not interfere in others affairs);
5. what actions from his side will result in an action against him
6. what his targets are
7. what his remuneration will be

Being clear on this will make things more positive for the relative or even the son. Thereby avoiding many crisis situation.

It is easiest upon entry of the relative, but hard to implement when he is already part of it. In such cases you will need tact and a perfect plan to do it smoothly. If you can't, it's better to use the services of professional consultants so that these changes will come as a result of a professional advice, and a family conflict can be avoided.

Business Insights by Ameen Ahsan @
*Ameen Ahsan Strategy Consulting*

7558-900-800 | www.ameenahsan.com
7th Floor, Hilite Business Park, Calicut

*Business Consulting | Feasibility Studies | Project Reports*

One of the biggest challenges that an Entrepreneur faces is grooming his son or daughter to take on the business after him. Or to make him a good entrepreneur.

But businessmen by nature are too busy that they get seldom time to be with their children. Quite often not knowing how they are growing up. 

In the era of secluded living in high walled villas and apartments, especially relevant for NRI businessmen, there is the risk of their children not getting the right social exposure. I have seen kids in their teens who show the maturity of kids in 1st or 2nd standards! They play with them, they fight for toys, are glued to some cartoon characters. In fact not growing up.

Saddest part is, some parents think it's "cute" and will change with time! I believe it will only get worse.

What would happen is that when these kids enter the real world, at college or at business, they get washed away into nothingness. You can't blame them at that time. You will only have yourself to blame.

So watch your children from now on. Who are their friends, what is his interest, does he show the maturity of kids of his age, does he show the emotional, intellectual and social capabilities for his age etc. 

Loving your child is not to destroy him. And ignoring something is not going to solve it.

Family Business Strategic Planning @ 
Ameen Ahsan Strategy Consulting

+91-7558-900-800 | www.ameenahsan.com

Please share to all Entrepreneurs 

Many fathers in family businesses make it a policy never to change. They take it as their "right" and "power" not to change with times. 

Result ? Their children will walk out of their business. Their customers will go elsewhere. And only useless staff will remain with them.

Their business will die of old age.

Don't resist change. Be the change. Practice change everyday, so that "old age" will not catch you.

Family Business Strategic Planning @ 
Ameen Ahsan Strategy Consulting
info@ameenahsan.com
+91-7558-900-800

Please share to all Entrepreneurs