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!

 

Peppermint Wednesday – Treat people in their way

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!

Learn how to say the same thing, but in a different way… because all people are different!

 

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 – What do you do when you have that ‘a-ha moment’ in a family business?

A few days ago I gave a speech to an excellent networking group that I have been a member of for several years (that is until very recently, the pressure of expansion within The Practice has meant I have reluctantly taken my leave).

 

The host commented on how much he had enjoyed the presentation and the new material I had shared. Interestingly some of the material is old, I have just not used it for a good while. I simply coupled my old content with some of my very recent thoughts. Isn’t it funny that when we take a new look at some old history, with a fresh pair of eyes, we can see some very different things?

 

The purpose of the speech (which is too long to paraphrase here) was to get us to think of those very rare times when we just know we need to do something radical within our business. Not because of logic, but a simple gut wrenching, all conquering feeling that something simply has to be done…

 

It’s happened to me just three times in my forty years plus in business. The first built a multimillion pound division for a PLC, the second was four years ago when I branded myself as The Family Business Man and the third was just a few weeks ago… Each time I found that I simply had to TAKE ACTION. Funnily enough, I have found many of my clients have had the same experience.

 

So, the BIG NEWS is that The Family Business Practice is about to expand, and rapidly, so watch this space for some very exciting developments!

 

But in the meantime, if you are having one of those very rare ‘a-ha moments’ perhaps we need a chat? And if you’re not, we probably, definitely, need a chat!!!

 

You know where I am…

 

Until the next time…

Peppermint Wednesday – Taxation Is A State Of Mind

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!

 

Accept the system and focus on the important things; your business and your family!

 

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 – For family businesses it’s all in the paperwork… or is it?

It’s well documented that well over ten years ago I lost the lot and had to start again. The big house and fancy cars became a two up and two down and a ten year old Astra nicknamed Rocky (which was a great car by the way).

 

There are many reasons why it went wrong for me in business. There was my naivety, a healthy dose of over confidence and perhaps a touch of arrogance, which certainly didn’t help. However, the paperwork (or lack of it) certainly didn’t show how the businesses I invested my time effort and money in would perform, and we paid a heavy price.

 

But therein lays the rub. I didn’t take the necessary care regarding the paperwork because I had, in my mind, done the thing that had always worked so well for me in the past; I shook hands on the deal! For me that was enough, but for others it was the sign that they could take a fresh view when it suited them and I became up to my armpits in a barrel of trouble.

 

Family businesses work with people they know, like and trust and this often means a handshake is enough. Recently I discussed an opportunity with someone and we are indeed working together I’m pleased to say. When it came to paperwork he said “…if you want to produce paperwork that’s fine but your word is enough for me”. And his word is enough for me too! Sometimes it’s all in the paperwork but most times it’s in the level of trust.

 

If you’re having challenges trusting those you work with perhaps we need a chat?

Peppermint Wednesday – Understand Your Purpose

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!

 

Take some time to discover what life is all about for you and the rest will fall into place!

 

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 – Bow to the inevitable: A family business can be tough, so deal with it!

I have had a number of disturbing networking experiences recently (not at our own events I hasten to add!) which have had one thing in common; a number of people attended who did nothing but complain, whine and moan. Their life wasn’t their own, they had no time for the niceties in life, blah blah blah– although they seemed to have managed a couple of foreign holidays! And finally, working with their family was oh so challenging! Having listened to their complaining I realised there was something they had in common – they had left secure jobs only a few short months before…

 

If you are reading this and thinking of starting your own business and looking for help from your family, can I make a suggestion? Be prepared to cut out the belly aching and whining – running a business is tough enough as it is without your complaints, especially about those closest to you. If it’s not for you, simply get a job that you desire! Don’t complain to people who own their own family business. We have probably faced something similar before and probably several more challenges besides! Bow to the inevitable: family business is tough, so get over it!

 

Rant over… If you are experiencing challenges in your business perhaps we need a chat? You know where I am.

 

Until the next time…

Peppermint Wednesday – Presentation Follow-up

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!

 

 

You can be the greatest speaker or presenter on the planet, but if you don’t follow up, and quickly, you’re wasting everyone’s time – especially your own!

 

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 – Buckle up and buckle this… 26th August 2017

The last few days have seen terrorist attacks in cities around the world. It would be very easy to roll over and let these monsters rule our lives. Which is, of course, exactly what they want – for us to live in fear, to change our ways, to slowly change to their way of thinking.

 

But it’s not the British way. It’s not the family business way.

 

Anyone that owns a family business knows that we don’t roll over and it is the antithesis of how we think, act and do. In fact, when someone or something threatens our livelihood, our friends and most of all our family, our attitude is to buckle up and give people a bloody nose.

 

Family businesses have to compete every single day, unwilling to yield to market forces, competitors and most of all jackasses, whatever shape or size they come in. So no, they will never win.

 

If you need a hand to buckle up you know where I am.

 

Until the next time…

Peppermint Wednesday – Passion is everything

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!

Are you passionate about your business? If you’re not, you may as well quit now!

 

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!