Most likely they have lost interest.

Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

Read the previous articles in this series:

• Part 1: The main reasons a family-owned business can fail
• Part 2: What happens when one family member wants to sell their share
• Part 3: How to reconcile the interests of family members who work in the company, wit
  Worried Workers and Desperate Employers Turn to Telecommuting: 10 Tips for Working Successfully
  Employers forced out of offices by the Attack on America and employees fearful of future attacks of airplanes or anthrax are using technology to get the job done. Telecommuting, a trend of the past decade is enjoying a revival and presenting a new challenge for both employers and employees. Forced to develop specific guidelines for telecommuters, employers find themselves at a loss on how to manage the distance worker. Employees face the challenge of integrating their professional life into their personal space, often space previously used by family members. More
  Autologica presents the fifth part in a series of articles that address some of the common problems and situations that arise in family-owned businesses. The articles are based on an interview between Al McClymont, CEO of Autologica Dealer Management Systems, and J.C. Aimetta, an expert and coach who specializes in family-owned businesses and who has ample experience consulting for this type of company.

  Al McClymont: Regarding the succession issue in a family-owned business, specifically the election of the successor, isn’t it possible that this can cause problems if someone feels excluded?

  J.C. Aimetta: Well, at first glance I’d say yes, generally a solution brings with it a new problem.

  The truth is that you can decide which problem to have: This one that will be generated right now, or the one that will be created in the future of a small company trying to be co-managed by three or four people, with the respective power struggle and the growth of internal bands among employees who are faithful to one or the other.

  And another point is that the evaluation generally begins with oneself, with each family member in particular. Then, you can ask each family member: Do you feel qualified to work in the family business?

  And it is in these meetings that one discovers that many sons and daughters admit that their life project is not related to the family business, but rather that they are safeguarding their father’s dream, and that when their father dies, they will probably choose to do what they always wanted to do.

  If succession is presented as a competition, this never comes to light. But, if you present it as a personal, intimate question, liberating the person from the obligation of continuing with the business role, for it was not he/she who made the decision but the father, it is very likely that at least one or two of the people competing for power will spontaneously separate themselves or accept minor roles because they do not feel this is for them.

  Al McClymont: What happens if the chosen successor is offered a better opportunity outside the company?

  J.C. Aimetta: First of all, if the family business is managed as a business and not as a family, it should be expected that replacements are planned for.

  Children are irreplaceable in a family; nobody brings a child into this world to replace another one.

  But in a company, a manager can be replaced by someone else. If these two environments can be differentiated, this would be the most suitable recipe.

  However, this is not common. When someone listens to a job offer outside the family business, we can assume that the opportunity represents something better than what they currently have.

  It is very common that this extra benefit is not financial, but that instead it signifies an absence of problems, of displeasure.

  That is to say, those who accept to manage what is not theirs instead of managing what is theirs, do this in order to free themselves from the stress and tension generated by the constant conflicts of the family.

  Note how interesting this is, because this person leaves management but stays on as an owner. In other words, this person decides to dedicate their talent to administer something that is not theirs, and chooses someone else to manage what is theirs.

  This is not the same as someone who abandons ownership, who sells their share… this family member abandons the job but retains ownership.

  Most likely they have lost interest.

  Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

  In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

  Read the previous articles in this series:

  • Part 1: The main reasons a family-owned business can fail
  • Part 2: What happens when one family member wants to sell their share
  • Part 3: How to reconcile the interests of family members who work in the company, with
    A Tale Of Two Companies
    Yesterday, Singapore’s exchange market was rife with speculation about a possible merger of the two land transport giants: ComfortDelGro and SMRT. As a result, their share prices skyrocketed between 5.9% and 6.6% at closing.ComfortDelGro is the “world’s second largest public listed land transport company with a fleet of more than 40,000 vehicles”. It is the parent company for Comfort and SBS Transit which are the market leaders in taxi and bus industry in Singapore respectively. SMRT, the market leader for train services, is a multi-modal public transport com
    ompany trying to be co-managed by three or four people, with the respective power struggle and the growth of internal bands among employees who are faithful to one or the other.

    And another point is that the evaluation generally begins with oneself, with each family member in particular. Then, you can ask each family member: Do you feel qualified to work in the family business?

    And it is in these meetings that one discovers that many sons and daughters admit that their life project is not related to the family business, but rather that they are safeguarding their father’s dream, and that when their father dies, they will probably choose to do what they always wanted to do.

    If succession is presented as a competition, this never comes to light. But, if you present it as a personal, intimate question, liberating the person from the obligation of continuing with the business role, for it was not he/she who made the decision but the father, it is very likely that at least one or two of the people competing for power will spontaneously separate themselves or accept minor roles because they do not feel this is for them.

    Al McClymont: What happens if the chosen successor is offered a better opportunity outside the company?

    J.C. Aimetta: First of all, if the family business is managed as a business and not as a family, it should be expected that replacements are planned for.

    Children are irreplaceable in a family; nobody brings a child into this world to replace another one.

    But in a company, a manager can be replaced by someone else. If these two environments can be differentiated, this would be the most suitable recipe.

    However, this is not common. When someone listens to a job offer outside the family business, we can assume that the opportunity represents something better than what they currently have.

    It is very common that this extra benefit is not financial, but that instead it signifies an absence of problems, of displeasure.

    That is to say, those who accept to manage what is not theirs instead of managing what is theirs, do this in order to free themselves from the stress and tension generated by the constant conflicts of the family.

    Note how interesting this is, because this person leaves management but stays on as an owner. In other words, this person decides to dedicate their talent to administer something that is not theirs, and chooses someone else to manage what is theirs.

    This is not the same as someone who abandons ownership, who sells their share… this family member abandons the job but retains ownership.

    Most likely they have lost interest.

    Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

    In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

    Read the previous articles in this series:

    • Part 1: The main reasons a family-owned business can fail
    • Part 2: What happens when one family member wants to sell their share
    • Part 3: How to reconcile the interests of family members who work in the company, wit
      Make Big Money In Real Estate
      Real Estate is one of the oldest forms of investing known to man. Real Estate investing is easy and fortunes are made in a simple manner. For example, and investor decides that a desert area will eventually become an industrial development. He purchases a number of acres at a very low price. If his guess turns out to be correct, ten years later he sells the land hundred times more than what he paid for it.This can happen in any part of the country and is not an exceptional case. As the population keeps growing in the U.S., land prices continue to rai
      h the business role, for it was not he/she who made the decision but the father, it is very likely that at least one or two of the people competing for power will spontaneously separate themselves or accept minor roles because they do not feel this is for them.

      Al McClymont: What happens if the chosen successor is offered a better opportunity outside the company?

      J.C. Aimetta: First of all, if the family business is managed as a business and not as a family, it should be expected that replacements are planned for.

      Children are irreplaceable in a family; nobody brings a child into this world to replace another one.

      But in a company, a manager can be replaced by someone else. If these two environments can be differentiated, this would be the most suitable recipe.

      However, this is not common. When someone listens to a job offer outside the family business, we can assume that the opportunity represents something better than what they currently have.

      It is very common that this extra benefit is not financial, but that instead it signifies an absence of problems, of displeasure.

      That is to say, those who accept to manage what is not theirs instead of managing what is theirs, do this in order to free themselves from the stress and tension generated by the constant conflicts of the family.

      Note how interesting this is, because this person leaves management but stays on as an owner. In other words, this person decides to dedicate their talent to administer something that is not theirs, and chooses someone else to manage what is theirs.

      This is not the same as someone who abandons ownership, who sells their share… this family member abandons the job but retains ownership.

      Most likely they have lost interest.

      Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

      In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

      Read the previous articles in this series:

      • Part 1: The main reasons a family-owned business can fail
      • Part 2: What happens when one family member wants to sell their share
      • Part 3: How to reconcile the interests of family members who work in the company, wit
        Corporate Cancer: An Epidemic of Dishonest Employees
        Hiring and retaining employees in today’s marketplace is a complicated situation; in fact, it’s more of a matter of life and death for most businesses.The liabilities inherited with each job offer include employee theft, huge turnover rates, unqualified employees, negligent hiring practices and discrimination based lawsuits, and violence in the workplace.Each of these challenges has a distinct and overwhelming effect on every business, within every market segment in every country of the world.Quality hiring decisions build profitable and success
        the family business, we can assume that the opportunity represents something better than what they currently have.

        It is very common that this extra benefit is not financial, but that instead it signifies an absence of problems, of displeasure.

        That is to say, those who accept to manage what is not theirs instead of managing what is theirs, do this in order to free themselves from the stress and tension generated by the constant conflicts of the family.

        Note how interesting this is, because this person leaves management but stays on as an owner. In other words, this person decides to dedicate their talent to administer something that is not theirs, and chooses someone else to manage what is theirs.

        This is not the same as someone who abandons ownership, who sells their share… this family member abandons the job but retains ownership.

        Most likely they have lost interest.

        Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

        In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

        Read the previous articles in this series:

        • Part 1: The main reasons a family-owned business can fail
        • Part 2: What happens when one family member wants to sell their share
        • Part 3: How to reconcile the interests of family members who work in the company, wit
          How to Inject More Approachability into Your Dental Practice
          Last week I spoke to the Greater St. Louis Dental Society. My session was filled with primarily hygienists, receptionists and chair-side assistants.We explored something I call The OING Model.Oing represents four types of encounters between employees and patients, each of which is an opportunity to inject (no pun intended) a little more of your personality into each encounter.About 160 people filled out index cards with potential lines, expressions and greetings that were a bit more creative, fun, unique and of course, approachable. Man

          Most likely they have lost interest.

          Another reason they may lose interest is simply that the pay is too low. Thus, they think to themselves, “I am earning 10 here, and I will earn 25 there. But, apart from the 10 I am earning here, I am making this company grow. This company has grown 80% in the last few years. And I am keeping 1/4 or 1/3 of the increase in family patrimony (according to the number of siblings). This is not in my best interest.”

          In the next part of this interview, we’ll talk about how much family members who work in a family-owned business should earn.

          Read the previous articles in this series:

          • Part 1: The main reasons a family-owned business can fail
          • Part 2: What happens when one family member wants to sell their share
          • Part 3: How to reconcile the interests of family members who work in the company, with the interests of those members who don’t
          • Part 4: How to plan for succession in a family-owned business

          © 2006 Autologica SA