In family businesses the expression “Play the ball, not the man” is ever so important. Strive to remove the emotion and baggage from communication and see yourself as an employee with a job description. Focus on the business at hand not dad, mom, brother or sister. Monthly meetings are well advised.
Getting communication right creates a business that is immensely powerful. Family businesses see generations building on foundations that generate huge momentum, weather global and local storms and drive innovation at unprecedented levels. Ensure you communicate effectively, since failing at this is a disaster for all the stakeholders in the company. If an objective t hird part y i s needed to support you in this process, find a person who has empathy for family businesses but speaks for the interest of the business and is not emotionally entangled in the family and its historic relationships. Pavlo Phitidis is CEO of Aurik Business Accelerator (www.aurik.co.za), an organisation that works with business owners to grow their businesses into assets of value and a director of Aurik Enterprise Development, an organisation serving big businesses with ED solutions. He is also a regular commentator on entrepreneurship and business development on Talk Radio 702 and 567 Cape Talk.