The Family Owned Business
Responding to the unique needs and special concerns of family owned companies, in particular, the inter-generational transfer of wealth, power and values, is a primary focus area of Stratenomics. What does a family owned business need (or any company for that matter) to meld past successes with its future potential? For this to happen there has to be:
- Open, effective communication
- Shared values and vision
- The ability to adapt to change
- Reasonable and shared accountability
- Capacity to openly address and resolve issues
- Processes and procedures for operating efficiency
- Ability to reach consensus
- Effective, constructive business and family meetings
- An action plan that openly and honestly addresses succession planning, organizational transition, and the attendant financial implications
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Stratenomics, Inc. works in partnership with the principals of the family business and their team of legal, financial, and banking advisors to ensure that there is a clear, consistent and manageable strategy in place for the company and the family and that there is transparency and consensus around all decisions. Along with a team of knowledgeable Associates and affiliates we help our clients develop the skill-sets and qualities that contribute to their being more effective as leaders and their companies more profitable.
The difference between running a business and building a company, between creating an immediate impact and establishing a legacy is three words: Planning, Delegation, and Communication. The role of Stratenomics …our responsibility to our clients…is to provide the tools so that success and peace of mind are realistic and realizable.
