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Learning from the family business

Motivational Speaker Carole Spiers
promotes team building and working with passion

One of the most memorable conferences I have addressed was an important, 3-day event in Abu Dhabi, in 2008, dedicated to the theme of Family Business.

My own topic was 'Managing stress specific to family firms' and I was interested to note that most of my topics, - change management, role identity and proprietorship - were echoed strongly by other speakers, throughout the conference.

Significantly, the conference title was, 'Surviving the Third Generation' and it has long been noticed that there is a specific stress factor about this 3rd generation stage in the evolution of a family business. Like any other organisation, it is liable to lose its top talent and we need to find the causative factors.

Yet I was overwhelmingly struck by the positive aspects of family business culture, as demonstrated by representatives of them from many parts of the world.

Watching different generations up on the platform, I was impressed by how the younger element acknowledged the efforts of the firm's founders and of earlier generations who worked in the company, and respected their values.

"You don't have to be an owner to feel ownership"

But the strongest impact upon me was a statement regarding ownership. Someone said "“You don't have to be an owner to feel ownership", and that struck a chord with many.

Ideally, every firm should feel like a family. And family firms are able to demonstrate that particular bonding which holds a team together, year after year. A family firm can encourage a sense of common ownership of its future and its fortune among all - from the top executive to those serving on the counter or working on the shop-floor.

Wearing my stress consultant 'hat', the subject that stayed with me afterwards was the emotional bonding issue. I have always tried to encourage people to bring passion to their work. Too often, there is no joy or fun or love in working. If you can bring back the fun, then you will see performance and productivity improve and top talent staying.

With so many businesses merging or in difficulty, the family business community brings a wealth of experience, richness and learning from whom the rest of us can only learn.

Key points about family business

  • The 3rd generation often creates transitional problems
  • The family spirit can set an example to corporate enterprises
  • There is specific training available to counter the stress often endemic
    in family business.

Another key insight from Carole Spiers, International Leading Authority on Corporate Stress,
Motivational Speaker and BBC Broadcaster.


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