SKM Associates LLC and the Network of Family Businesses exists to serve and assist family businesses as they build and preserve their family legacies. We work with family enterprises and closely held businesses on issues such as succession planning, communication, board and family business structure development, professional coaching and development, education, and business strategy
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Change in the Family Business
“There is nothing permanent except change”
Heraclitus, 513 BC
Based on this quote, people have been struggling with change for over 2,500 years.
I recently was talking with several business owners who commented that they felt the economic climate, the business climate, and the family dynamics were changing so fast they did not know which way to turn. Those comments stirred my thoughts to explore what do business families need to be aware of, or not lose in a changing environment?
If we stop to think why people usually fight change it is frequently because they feel they do not have or will not have control and the familiarity of the known is more comforting than the unknown. The natural response to this feeling of powerlessness, frustration, and fear is resistance. This resistance requires inclusion in the discussions, evaluations of the options, and a belief that as a family all are united.