Benefits of a Family Business Consultant


Benefits of a Family Business Consultant

Why Bringing in a Family Business Consultant Is
Crucial for Managing Dynamics in Family Businesses

Did you know that family businesses make up 60% of Canada’s Gross National Product (GNP)?
While family businesses can be a source of pride and financial stability for generations to come, they can also be a breeding ground for conflicts and tension. Whether it’s from differing opinions or uneven power distribution, family business conflicts can quickly spiral out of control if not addressed early.

In this blog post, we will discuss why working with a family business consultant is essential for your business and how they can help families navigate the dynamics of running a family business.

Understanding the Role of a Family Business Consultant

A family business consultant is a professional who is trained to understand and decipher complex intergenerational family dynamics that arise when families work together. They can provide better understanding of these dynamics to family business members and can assist in bringing pre-existing issues into the open, potentially minimizing family conflict in the business realm.

Benefits of Working with a Family Business Consultant

The truth is that most family businesses face conflicts at some point in their growth journey. If these conflicts get out of hand, however, they could lead to the business’s failure.

Below are some of the top benefits of working with a family business consultant to help ensure the survival and success of your business.

  • Minimizing Family Conflicts in the Business Realm: When pre-existing issues are brought into the open, family conflicts in the business realm could potentially be minimized. Repairing family issues leads the way to more business-oriented and productive decision-making.
  • Strengthening Communication Patterns: Communication can often be the root cause of tension, disagreements, and misunderstandings within family businesses. A family business consultant can help improve communication patterns amongst family members by offering strategies and tools that can be used to better communicate and collaborate effectively.
  • Bridging Intergenerational Differences: Different generations have different orientations. For instance, the younger generation might be eager to modernize the company, but the older generation might be resistant to change.
  • Assisting with Succession Planning: Succession planning is important because it ensures that the family business can continue to thrive even after the current generation steps down. A family business consultant can help facilitate important conversations and decisions, provide expertise on best practices, and offer objective guidance through what can often be a complex and emotional process.
  • Involving Spouses and Extended Family Members: One of the common issues that families face in running a business is involving spouses and extended family members, which could add further complications and stress. A family business consultant can offer effective solutions to these issues by providing unbiased advice and helping families navigate through complex situations diplomatically.
  • Understanding Gender Differences and Values: Men and women often have distinct communication styles, which can impact how information is conveyed and received. Learning how to navigate these differences can promote healthy communication and collaboration. Additionally, it’s important to identify and value each family member’s unique contributions to the business, regardless of gender.
  • Decoding and Unpacking Sibling Rivalry: Sibling rivalry can be a complicated issue for many family businesses. By decoding and unpacking the root causes of any rivalry, it can open doors to constructive discussions that lead to achieving common goals.
  • Maintaining Harmony: By engaging with a consultant, you can maintain harmony within the family and ensure that everyone is on the same page. With their insights and guidance, a family business consultant can help integrate the different ways of thinking among family members and determine everyone’s roles.
  • Avoiding Conflict and Lawsuits: One of the most significant benefits of consulting with a family business expert is avoiding conflicts and legal disputes that may arise in a family-run organization. These conflicts can be devastating to the business, resulting in lawsuits and other legal actions that can potentially damage the family relationships.

Examples of Family Business Conflicts That Could Have Been Prevented with a Family Business Consultant

Family business conflicts have been a recurring theme throughout film and television. Take, for instance, the show Succession, which presents viewers with an inside look into the world of a wealthy, dysfunctional family business. Throughout the series, we witness countless conflicts and PR disasters that could have been prevented if the family had just hired a family business consultant.

There are also many modern-day examples of complicated family business conflicts. The Rogers and Stronach families, are two prime examples. The Rogers family has a long history of conflict that has played out in the media, including a bitter feud between the founder’s son, Edward, and his sister, Melinda. Similarly, the Stronach family has been embroiled in a legal battle over the control of the family’s auto parts empire for years.

In both of these cases, a family business consultant could have helped prevent these conflicts by addressing the underlying issues

How Brenda Isen Can Help Mitigate Family Business Conflicts

Navigating the dynamics of running a family business can be challenging, but with the help of a family business consultant, it is possible to prevent conflicts and build a successful business.

Brenda Isen has extensive experience as a clinical therapist, individual and family therapist, and mental health therapist. She has a deep understanding of the complexities of family dynamics and can help families in the GTA navigate these challenges to build a successful business.

Brenda’s expertise in understanding and working with couples has helped numerous families strengthen their communication, which is a crucial factor in building a successful business. Additionally, her focus on women’s issues, life transitions, and family dynamics has earned her a prominent reputation in the mental health community.

Contact Brenda Isen, a Family Business Consultant, Today!

If you are a small- to medium-sized business or a family in business together, consider working with a family business consultant to ensure your business’s success. Contact Brenda Isen today at (416) 559-4356 or to learn more about how she can help.