The best run companies enjoying longevity and consistent success know accountability for results is a key component to the company’s culture. Many family businesses struggle with accountability because they try to manage family harmony alongside business results.
Watch this short video to help guide your family while having the accountability conversation.
Many founders find it difficult to hold siblings and next-generation family members to a high standard of business results. Yet failing to do so puts the family business and family harmony at an even greater risk.
A culture of accountability in the family and business develops over time and doesn’t happen in one or two conversations. We encourage families to engage in the accountability conversation as a starting point to explore everyone’s perception of accountability and identify ways to strengthen the focus for business results.
We have a short exercise that will guide you through a very non-threatening conversation that will begin the process. You can download the playbook here.
Getting the conversation started can be a little bit awkward at first and many families can benefit from having outside, objective, yet interested parties involved in the conversation. Strategic partners, vendors and industry standards can provide much-needed “performance benchmarks” that both family members and non-family members should strive for in the business.
Remember, business today is a highly competitive sport. Family businesses need to be careful about relying on their past successes as a reliable predictor of long-term success.
Jump in, get started and embrace the journey toward improving your family businesses culture of accountability. Plan your family’s potential!