Why Family Businesses?
Your Business, Your Family, My Passion
Your business was founded out of a passion and is being built on the vision and the values of your family. It is not only important to you and your family but also to those that work within the business and the communities that you serve.
There is a level of emotional attachment to a family business that when combined with complex family dynamics creates unique challenges.
When things are going well being able to share that success with your family is great, but when things go wrong there is more at stake and it can be difficult to know where to turn for support. My business exists to help yours to thrive, if you would like to find out how we can work together, I would love to hear from you.
Why are Family Businesses more complex?
Family owned businesses are collectively unique. Whilst the personalities differ from family to family, the challenges that you face are common and can be overcome.
In this video I explain why family businesses are more complex than non-family businesses and why specialist advice is needed to help you navigate this additional complexity.
There are many things family businesses do incredibly well without outside help:
- an entrepreneurial culture,
- a wise perspective on borrowing,
- continued reinvestment in the business,
- a long-term vision of what success means,
- a business built on the values of you and your family
- a deeper sense of purpose than other forms of business, and much more besides.
There are some things family businesses find difficult, if not impossible, to do on their own:
- Talking about passing the business on from the current leadership generation to the next;
- Exploring what the senior generation might do once they leave the business;
- The best ways to discuss with the younger generation what their life options are,
- How, if at all, the family business fits in with these;
- How best to prevent, or skilfully handle any tensions or family feuds that may arise.
Sometimes there is the need to bring in expert advice from outside of the family.
You can often feel as though you are the only family facing the challenges that you are facing but whilst your family is unique, the challenges that you are facing are not.
I work alongside you to understand what you are trying to accomplish, we then design a plan that provides clarity and alignment for all those involved.
We work together to implement that plan
Russ Haworth ACFBA
I am a UK based specialist family business adviser and I have been working with families in business for 15 years. My passion for this work has seen me move from a successful career in financial planning and wealth management to setting up this business.
I hold the Advanced Certificate in Family Business Advising, awarded by the Family Firm Institute and recognised globally as one of the leading qualifications for those providing advice to family owned businesses.
As well as providing dedicated consultancy support to families in business, I am a regular speaker at national and international conferences (virtually at the moment!). I also host the widely acclaimed Family Business Podcast, one of the worlds’ leading resources for families in business.
Alongside my consultancy work I am also working on a soon to be released book and podcast project that has captured the range of experiences and the mixed emotions that come from being in business with your family. The book and podcast series will cover virtually everything that any textbook or case study has ever done, but to a depth rarely seen; more personal and richer with lessons and experiences that will resonate with all family business owners.
Not only is this useful for resolving differences, but also for understanding why business processes are not working the way that they should. Russ’ keeps you focused on the reason why you are doing what you do.
Having him involved has given my team an incredibly powerful boost.