The family business
BusinessWeek have produced another of their informative slide shows, this time on the family business. It gives a brief insight into 6 American family businesses.
One quote caught my eye from the Fernandez-Montes family:
“When my parents came to the U.S., they thought if they worked hard for a big company, they would be treated well, have a pension, and live the American Dream,”
“But my cousins and I see ourselves being safer and more secure when we’re the captains at the helm.”
It is not a given that running a family business will be safer. However, the captain at the helm does indeed set his own course. For a family business the ship may be quite small compared to some, but it is likely to be more agile. If you are captain at the helm then there is the possibility to explore new waters which can be enormously satisfying and enriching.
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The trouble arises when too many people think they are the captain at the helm!
Posted by: Julian Flitter | 02 July 2007 at 16:37
Yep, all trying to move steer in different directions. We've all seen that one. One phrase springs to mind (not mine) the trick is to get the "right people on the bus and wrong people off" before the journey begins.
Posted by: Philip Woodgate | 03 July 2007 at 07:00
A neat soundbite but as with many things in business a lot easier said than done. I think the trick is to pick the best man for the job and ensure that everyone gives him 100% support to get the job done.
Posted by: Julian Flitter | 03 July 2007 at 16:49
Mmm, no one said it was easy. It gets worse you also have to ensure that all the people are sitting in the right seats on the bus. You may have smart people, but they need to be doing what they are good at, not what they are not.
I agree with you about the support, but it also important that as well as the support each person is fully contributing. You don't want people standing on the sidelines smoking cigars while the rest are working their socks off.
Posted by: Philip Woodgate | 04 July 2007 at 11:42