{"id":41380,"date":"2019-01-29T04:59:49","date_gmt":"2019-01-29T03:59:49","guid":{"rendered":"https:\/\/artechnity.co.in\/matteorocca\/?page_id=41380"},"modified":"2024-02-20T08:02:24","modified_gmt":"2024-02-20T07:02:24","slug":"coaching-for-family-business","status":"publish","type":"page","link":"https:\/\/www.matteorocca.com\/en\/coaching-for-family-business\/","title":{"rendered":"Coaching for family business"},"content":{"rendered":"\t\t
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GENERATIONAL CHANGE IN THE COMPANY<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Did you know that Italy is among the European countries with the highest number of family businesses?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The family business is often described as the oldest and most widespread model of economic organization.<\/span>
According to estimates, in our country alone, there are about 784,000 family businesses and, more importantly,<\/span>
these businesses generate 70% of job opportunities.<\/span><\/p>

The family business in Italy is the daughter of our culture and, therefore, of our tenacity, dedication, great industriousness, but also of our individualism.\u00a0It is natural to consider the company as an extension of one’s own family and not to consider the two entities as clearly separate from each other.<\/span><\/p>

The two worlds are in themselves incompatible and antithetical.\u00a0By culture, however, there is a tendency to apply the logic of the family in the company and this also generates very serious problems, above all in the stages of\u00a0<\/span>generational transition<\/span><\/a>\u00a0.<\/span>
In a family business that has ambitions of continuity and development, the relationships between family members, the rights and<\/span>
duties of each must be regulated in a professional manner, as would be done with partners who are not members of the family.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\" In the family you are relatives, in the company you are partners \"\t\t\t<\/p>\n\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\tMario Preve (Riso Gallo)<\/cite>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The problem of generational change.\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Did you know that only 32% of all family businesses achieve an average lifespan of two generations?\u00a0Oh yeah, unfortunately that’s the way it is!<\/span><\/p>

And not only that\u2026 the transition to the third generation is further reduced to a mere 15% success rate, while maintaining a viable fourth generation family business (or beyond) is achieved only 3% of the time.<\/span><\/p>

As you well know (and I surely imagine you too are experiencing this situation, since you are here on this page reading), the intensity of family relationships decreases over\u00a0<\/span>time<\/span><\/a>\u00a0and with the concept that individual members have of\u00a0<\/span>“family \u201d<\/span><\/em>\u00a0.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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INITIALLY, WHEN THE COMPANY WAS BORN, THE FAMILY MEMBERS ARE UNITED BY A VERY STRONG BOND, HUSBAND-WIFE OR FATHER-SON.\nTHERE IS NO DOUBT ABOUT THE MEANING OF \u201cFAMILY\u201d.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\nHow to facilitate the transition in the family-run business?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Over time the company grew, the family evolved and the new generation appeared to assume roles in the company.<\/span>
There is always the central point of reference represented by the\u00a0<\/span>“old”<\/span><\/em>\u00a0generation.\u00a0Also in this case the link is strong and the concept of “family” is unambiguous.<\/span><\/p>

The picture changes when the children form their own new families.\u00a0The sense of family becomes ambiguous and the alignment between the needs of the original family and the needs of the new nucleus is lost.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tBOOK NOW A FREE CONSULTATION FOR THE GENERATIONAL CHANGE<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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THE SITUATION CHANGES RADICALLY WHEN NEW FAMILIES HAVE THEIR OWN CHILDREN...\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Senior leader and junior leader: foster communication between different generations<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The best way for you to avoid potential conflicts between families is to involve future generations in family business discussions from an early age.<\/span><\/p>

Most of the families I have looked after in the past didn’t even bother to make sure the next generation understood and appreciated the values \u200b\u200band work ethic necessary for the success of the family business.<\/span><\/p>

When the family starts involving them from an early age, it starts setting them on the<\/span>
right path to making good choices for the future of the company.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\nThe children's company is the company of the future<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Another of the most common problems of a family business is that one always tries to work under an old vision of the founder.<\/span><\/p>

It is essential for your company to develop a good process and a solid plan for the succession, to plan the generational transition.<\/span><\/p>

If you want the family business to last from generation to generation, you will necessarily need to eliminate your limiting beliefs and develop a completely new and relevant vision for future generations of the family\u2026<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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A FAMILY BUSINESS IS LIKE AN ORGANISM...<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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In a constantly evolving world, the company needs to continue to grow and evolve to meet the needs of current and future owners and customers… But for this to happen, it is essential that there is communication and dialogue in the family, a very important point, but which I often see missing in many family businesses!<\/span><\/p>

Your business doesn’t have to be a source of frustration and anxiety as it often is for so many families.<\/span>
Disagreements in the family can lead to estrangement in family relationships, which often last for generations.<\/span>
It doesn’t have to be like this!<\/span><\/p>

It is the job of the family leader to have the courage and ability to facilitate productive conversations within the family and the business.<\/span>
Most family leaders are reluctant to open\u00a0<\/span>Pandora’s box<\/span><\/em>\u00a0and therefore never give the family and the company the important opportunity to refresh their vision.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tBOOK NOW A FREE CONSULTATION TO GIVE YOUR COMPANY A FUTURE<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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I know what you’re thinking..<\/span>
you’re afraid that once you start a journey, and it doesn’t go where you want it to go, you won’t<\/span>
be able to go back.<\/span><\/p>

It may be a legitimate concern but, at the same time, not<\/span>
giving your business a new vision can cause big problems.<\/span><\/p>

Don’t wait too long to plan the generational transition and nominate\u00a0<\/span>
the future leader of your family business.<\/span><\/p>

Too many families\u00a0<\/span>\u201cwait, wait, wait\u201d<\/span><\/em>\u00a0hoping that<\/span>
somehow the right solution will present itself.<\/span><\/p>

Too often procrastination and a family’s fear of the unknown causes<\/span>
the family and business to get stuck in a neutral situation with<\/span>
an uncertain future.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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GOOD VISION IS THE RESULT OF MANY CONVERSATIONS, SELF-REFLECTION, AND COLLABORATIONS WITH OTHERS.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Think of developing communication skills as a<\/span>\u00a0priority in your family business.<\/span><\/p>

You really can’t open a conversation about the new corporate vision, set clear expectations for everyone, if you can’t communicate.<\/span><\/p>

You must do it!<\/span><\/b><\/p>

There is a lot at stake \u2013\u00a0 you owe it to yourself,\u00a0<\/span><\/b>your\u00a0<\/span><\/strong>family, your employees and key stakeholders.<\/span><\/b><\/p>

Be a true leader and start the journey!<\/span><\/b><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\tBOOK A FREE CONSULTATION NOW TO STRENGTHEN TOMORROW'S LEADERS<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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THREE PROVEN TIPS FOR RUNNING A SUCCESSFUL FAMILY BUSINESS<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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From my experience gained over the years, I would like to give you three proven suggestions to protect the family-business system and to manage the delicate phase of generational change in the family business:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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