Business consulting in Family-owned businesses is the art and science of educating and training family members, young entrepreneurs, next-generation family members, proprietors, and business partners, in all aspects of managing the family business.
Business Coaching covers all business methods such as manufacturing, trading, sub-contracting, and all functions such as Business Modelling, Business Strategy, Business Finance, Human Relations, Sales, Marketing, Operations, and Maintenance, irrespective of the nature of the business.
The family business consultant ensures that the mentees are transformed into positive, progressive future business leaders and CEOs with the vision and capability to build and lead business empires.
The business consulting process for family members in the family business is a well-defined and structured methodology for creating business leadership for family business growth.
Every family in business has different challenges. The challenges may be internal or external. Problem definitions vary and hence the solutions. The problems define the Family Business Consulting Process and the Family Business Advisory methodology.
The business consulting process for family members in the family business is highly customized, and designed keeping in mind the following primary factors:
The above factors answer a lot of questions, which enable the Family Business Consultant to design the Business Advisory Process and help determine the direction to be set for the organization and the entrepreneur.
The Business Consulting Process for family members in the business is spread out across 1-2 years, customized as per requirement. The total agreed timeframe has its milestones, for every quarter. In a nutshell, set simple, achievable, and measurable goals. Move a step at a time. Progress continually.
The Family Business Advisor virtually walks with the mentee, guiding them on the best possible outcomes, enhancing logical risk-taking, increasing progressive thinking, developing leadership skills, and ensuring a core team to support and fulfil the business vision.
