Why The Millennial Generation Are A Fantastic Opportunity For Family Businesses!

I had a very interesting conversation this week about ‘Millennials’ and their overall approach to working life. There are a number of studies now that point to a generation that is looking at life in a very different way to previous generations. Their thoughts on entrepreneurship are particularly interesting.

 

More and more Millennials feel they want to take life into their own hands by starting a business, or in fact several businesses. They want more control over their destiny and firmly believe in their abilities through social media and technology in general.

 

It is also been found that they have a far more open view towards family businesses, believing the value of a family business is preferable to large corporate machines.

 

I think this is great news. If a family business boasts Millennials (family or not) in their midst, they bring not only a great raft of technological skills, they are also ready to embrace the skills necessary to run a business..

 

Surely that’s a good thing? Have you got Millennials working in your business? Are you making the most of the opportunity?

 

Perhaps we need a chat, you know where I am….

 

Until the next time!

Family Business Bulletin – Take a long hard look at the future of your family business!

I was lucky enough to see a tremendous presentation by a fellow Professional Speaking Association member at our annual conference a few days ago. Graeme Codrington is an expert on the future world of work and I have heard Graeme speak on a number of occasions over the years and I have to say his predictions are generally on the money.

 

One of the key points Graeme made was about how robots really are going to take over an immense amount of jobs in the coming years and when you start to think about it, it’s clear that in a generation’s time, life will look very different. If you don’t believe me, it was only a few years ago we were speaking to people using the trusty Nokia 3310 and then the iPhone came along…

 

Our world is changing at a huge rate and it’s only going to get faster. So, what is a country bumpkin from the Worcestershire/Shropshire borders suggesting? Take a hard look at your family business – what is the future direction and will it have a place within it? If it does, how can you capitalise on the future? If it doesn’t, start looking at alternatives now and don’t wait until life has changed because it will be too late… You need to start working on change NOW!

 

If you need help you know where I am.

 

Until the next time…

Peppermint Wednesday – Way Back Wednesday I Asked… How Good Are You At Understanding People?

Welcome to a Way Back Wednesday edition of Peppermint Wednesday! The ALL NEW Peppermint Wednesday will be back next week! Plus every couple of weeks, I’m also delighted to be sharing an interview from one of our Family Business Practice members, where they look at what they have learned from running a family business. I can tell you, there are some great stories we can all benefit from.

 

Three years ago I asked a question and today the answer is still just as relevant; business is all about understanding people!

 

What are your experiences? Share your thoughts and join in the conversation on FacebookTwitterLinkedIn or just make a comment below and let’s help each other as family businesses to grow and develop.

 

If you enjoyed this episode, why not sign up to receive weekly notifications of new Peppermint Wednesdays? Just Click Here.

 

Until next week,

 

Regards,

 

PR FBM

 

Peter

 

P.S. And remember… if I can help you in any way, just let me know!

Family Business Bulletin: If you serve enough people sooner or later you will be noticed!

I was lucky enough to be on the crew that ran the Professional Speaking Association annual conference this week in Coventry. I have been a member of the PSA for over seventeen years now and have served at a variety of levels including PSA National President, and Chair of the PSA Foundation (which supports speakers in times of challenge) for several years.

 

It was time for me to pass the baton over and the outgoing President, Lee Jackson is taking over the role which, in his hands, will undoubtedly survive and thrive. He is an excellent choice that I wholeheartedly support. Imagine my surprise when at the award dinner on Saturday evening Lee called me on stage with a thank you for my service; it was a kind thought and made me realise just how many members knew of my support and help through the years.

 

The point is you may do all kinds of things with your family business but in this day and age the good things you do will be noticed and appreciated – even if you don’t realise you are visible. Many family businesses do all sorts of things to support charities and organisations and give their support without any desire for recognition, they just want to lend a helping hand.

 

But there will come a time when it will be noticed and appreciated and just occasionally (and probably when you least expect it) you might just be applauded for it. If you are wondering where to lend a helping hand perhaps we need a chat?

 

You know where I am!

 

Until the next time…

Peppermint Wednesday – Presenting a negative can sometimes be a positive

Welcome to the ALL NEW series of Peppermint Wednesday!

 

Shorter, punchier reflections based upon my book ‘Running On Empty – Thirty-Seven Mistakes I Have Made In Business! Each video simply explains what I’ve learned from my mistakes so you don’t have to go through the same pain!

 

Plus every couple of weeks, I’m also delighted to be sharing an interview from one of our Family Business Practice members, where they look at what they have learned from running a family business. I can tell you, there are some great stories we can all benefit from.

Share negative experiences so that those you serve can have positive experiences

 

What are your experiences? Share your thoughts and join in the conversation on FacebookTwitterLinkedIn or just make a comment below and let’s help each other as family businesses to grow and develop.

 

If you enjoyed this episode, why not sign up to receive weekly notifications of new Peppermint Wednesdays? Just Click Here.

 

Until next week,

 

Regards,

 

PR FBM

 

Peter

 

P.S. And remember… if I can help you in any way, just let me know!

Apparently I’m an “Olderpreneur”

One of our team (thank you Emma Kearney) found an article recently in the local press which makes interesting reading. NEW data has revealed that far from being ready to retire, many over the 50s and 60s are proving it’s never too late to fulfil ambitions of becoming your own boss. Barclays data reveals that nationally there has been a 140 percent increase in the number of business owners aged 65 and over in the last decade – the fastest-growing age group.

 

Over the same 10 year period, businesses run by those aged 25 to 34-year-olds grew by a much more modest 23 percent – challenging the presumption that the world of start-ups is dominated by those in their 20s. The trend has led to the age group being given their own name – Olderpreneurs. The West Midlands region, including Worcestershire, is one of the top regions with the fastest growing number of business owners aged 55 plus – growing 53 percent.

 

Well, I’m 61 years old and we are expanding the Family Business Practice so I guess if the label fits… Or is it that the team just wanted a fancy title for me as opposed to calling me POPS as they always have done? Who knows…

 

What I do know is that there are many family businesses I work with who are diversifying, starting afresh, or simply just starting for a variety of reasons and a helping hand from the Family Business Man seems to be in vogue!

 

Do you need a hand to create a fantastic family business?

 

Perhaps we should have a chat.

 

You know where I am!

 

Until the next time…

Peppermint Wednesday – Support a charity

Welcome to the ALL NEW series of Peppermint Wednesday!

 

Shorter, punchier reflections based upon my book ‘Running On Empty – Thirty-Seven Mistakes I Have Made In Business! Each video simply explains what I’ve learned from my mistakes so you don’t have to go through the same pain!

 

Plus every couple of weeks, I’m also delighted to be sharing an interview from one of our Family Business Practice members, where they look at what they have learned from running a family business. I can tell you, there are some great stories we can all benefit from.

 

Supporting a charity is rewarding, hard work and good for your personal development! But is it good for your business?

 

What are your experiences? Share your thoughts and join in the conversation on FacebookTwitterLinkedIn or just make a comment below and let’s help each other as family businesses to grow and develop.

 

If you enjoyed this episode, why not sign up to receive weekly notifications of new Peppermint Wednesdays? Just Click Here.

 

Until next week,

 

Regards,

 

PR FBM

 

Peter

 

P.S. And remember… if I can help you in any way, just let me know!

Family Business Bulletin – Meeting old friends in business can be a worthwhile event in family business

I met with someone this week who I used to work with a few years ago. It was great to see him and hear about the expansion of both his business and his family! The years go by very quickly and it’s too easy to lose touch, especially if, for whatever reason, the work connection has ceased.

 

Except in my opinion the connection never really goes does it? Within minutes we had picked up our conversation as if we had been together last week – that’s how it is with good connections and family businesses.

 

Who have you not spoken to in the last couple of years? Who would probably love to hear from you if you just dropped them an email or made a phone call? It might not lead to business but you just never know… After all, out of sight is out of mind!

 

If you need help to contact your old clients we have a fantastic system to show you how to maximise those potential opportunities you could be missing right now.

 

Why don’t we have a chat?

 

Until the next time…

Peppermint Wednesday – Look inside yourself for what’s important

Welcome to the ALL NEW series of Peppermint Wednesday!

 

Shorter, punchier reflections based upon my book ‘Running On Empty – Thirty-Seven Mistakes I Have Made In Business! Each video simply explains what I’ve learned from my mistakes so you don’t have to go through the same pain!

 

Plus every couple of weeks, I’m also delighted to be sharing an interview from one of our Family Business Practice members, where they look at what they have learned from running a family business. I can tell you, there are some great stories we can all benefit from.

 

To succeed in a family business you must be really, truly passionate about it!

 

What are your experiences? Share your thoughts and join in the conversation on FacebookTwitterLinkedIn or just make a comment below and let’s help each other as family businesses to grow and develop.

 

If you enjoyed this episode, why not sign up to receive weekly notifications of new Peppermint Wednesdays? Just Click Here.

 

Until next week,

 

Regards,

 

PR FBM

 

Peter

 

P.S. And remember… if I can help you in any way, just let me know!

Family Business Bulletin – To expand or not to expand – a perennial question for a family business?

During the years I have spent a considerable amount of time with many family businesses discussing the dilemma of whether to stay as they were (and probably in a comfort zone) or to expand, to increase the operation and take ever more responsibility, with only a possible promise of opportunity.

 

It’s a challenging time when you have worked to fill the fridge for years and at the point that the fridge is pretty full, you take a leap of faith and increase the business which might just mean that the fridge could become empty again… It’s easier to say ‘let’s not rock any boats, let’s just enjoy what we have’.  The trouble is, we all know standing still is usually followed by a swift decline.

 

So, like it or not for most of us it’s a case of trusting in what we believe in and believe in ourselves and go for it again… Because that fridge looks at us every single day and dares us to fill it again and again.

 

Which is why in a couple of weeks’ time we will be expanding the Family Business Practice with all the challenges that might bring – because the fridge dared us to fill it once again…

 

Is your fridge full?

Do you need a bigger fridge?

Perhaps we need a chat…

You know where I am!