Family business or a partnership that seemed like a good idea at the outset has run its course? Problem is there is nothing fundamentally wrong with the business. But you all have different views of what the future might look like.
I know just how frustrating this can be for all involved. As a business mentor in Kent I watched my father’s business suffer in the later years. His relationship with his partner had slowly deteriorated and the honeymoon period was long gone. It is so destructive for all the others caught up in it. The stepping on eggshells every time you need a decision, who do I talk to this time? It needs addressing, the business was not firing on all cylinders with no clear leader or strategy. The future looked bleak.
There never seems to be a defining moment that starts the tensions, it seeps in bit by bit like a drifting fog. For my dad’s business, It was too late the rot had set in the business was dying a slow death. If only they had asked for help before. Eventually the inevitable happened the business was wound down and the assets sold. Which was such a shame it was the first billboard printing business set up since the war in the 1970s.
The good news is that there is light at the end of the tunnel for business owners in these situations. Inviting a third party in can help transform the situation maybe you are thinking accountant, solicitor family friend. I would advise you to think beyond that. I would suggest engaging with a good business mentor, someone who is completely unknown to you and your partners.
Well to start with they are a complete outsider, no bias, no allegiances nor preconceptions. Secondly and perhaps more important is they are business people who have seen these situations before. Are able to help with any difficulties and be creative at mitigating trouble further down the road. They are personable and experienced members of the business community. Wanting the best outcome for all concerned.
Looking for a Business mentor in Kent, drop me a line and let’s talk about how to reshape the future with one of my complimentary mentoring sessions.
Director & Business Mentor
North Kent & South East London
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