How to Survive & Thrive in a Family Owned Business
by Hal Levenson on Oct 27, 2020 1:15 PM
Let’s look at how to survive and thrive in a family owned business during these challenging times. It would be an understatement for me to say that COVID has changed the way we do business. Some would argue for the better, others for the worse. Regardless of how it has affected your company, what I know is this: People are facing new demands and confronted with hard decisions that they can’t put off until tomorrow. Businesses can no longer sweep things under the rug and play it safe. This environment just won’t allow it.
I’ve heard from many of our clients who run a family owned business that they need to adapt. Business and familial issues that have mounted for years are suddenly forefront and must be resolved. For those who are willing to take my advice, I suggest hiring a trusted outside advisor. I know, it sounds like I’m plugging for Trilogy, but this may or may not be an advisory firm, depending on your primary concerns. Either way, I’ve seen first-hand the positive impact of consultants who can:
- Listen without judgement, be objective and mediate
- See problems with fresh eyes
- Offer the hard truth
- Support in making tough decisions
- Assess and quarterback the steps you need to survive and thrive
Trilogy understands the obstacles and opportunities that family owned businesses face and our clients have made great progress with our support. We also know the importance of community and being heard. That’s why we’ve organized a (virtual) monthly Coffee Hour for those running family businesses, with confidential discussions centered around unique challenges. For more information or if you are interested in attending, please contact Beth Renga, Trilogy’s Director of Client Management.
About Hal Levenson
Hal Levenson is the Founder and Chief Visionary Officer at Trilogy Partners. Trilogy Partners is an advisory & implementation firm whose mission is to help companies grow and transform. We accomplish this by focusing on 3 critical business areas: Financial, Strategy & People.