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FBP 102: You Ask We Answer: What makes a business a family business?

We asked for your family business questions, so this week Hugo Heij and Ray Moore are answering this listener’s question:

“I’ve employed my son and daughter in my business and hope that they will take over one day. But other people in the business seem resentful towards them. How can I resolve this?”

Hugo and Ray delve into why business owners need to make a conscious and open decision about bringing family members into the business.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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Accountability: The key to achieving business goals

Written by Ray Moore.

Ask a hundred people if they are happy to be held accountable for achieving their goals and results and 95% will smile, nod their head, willingly accept and agree to be held accountable.

However, the reality is the total opposite with the majority doing everything they can to avoid accountability. Often this is not intentional but the outcome is doomed just the same.

Why is this the case?

Humans become programmed to avoid accountability.

All around us this belief is reinforced by society at large and evidenced in the newspapers and on television. From politicians blaming the last government to bankers denying any wrongdoing or FTSE 100 CEOs explaining the reasons for unexpected drops in profits whilst still expecting their bonus.

The list goes on and on but how can we hold accountable people in our businesses.

Well the first thing to understand is no one can hold anyone else accountable unless that person has agreed and is totally committed to make it happen. It is essential that they are prepared to be held accountable for the agreed results or outcome within the agreed timeframe and that they truly take ownership of the goal and are prepared to take responsibility of their actions.

By definition this must mean that they have the necessary skills and resources to get the result or outcome. So always carry out a reality check to make sure the resources are available and the individual or team have the right skills and desire to carry out the task. The golden rule is check, don't assume.

 

Avoid digging elephant traps at all costs.

This is where we know the outcome is not realistic and achievable within the time scale or with the resources available, but we still set people up to fail. And guess what, they will fall into the trap and just like elephants they won't forget and next time they wont be so willing to take on the challenge.

Agree in advance how the outcome is to be measured and set the appropriate KPIs (Key Performance Indicators). Always hold people accountable on facts not opinions. Ensure all parties are using the same information and that the KPIs are timely, accurate and available to all involved.

KPIs are to Keep People Informed on their progress and to give understanding and flexibility to achieve the goal. Make KPIs a positive feedback tool not a negative stick to beat or prod.

 

Here are two ploys often used to avoid being held accountable.

First, watch out for smoke screens.

This is where the issue is lost in other issues. The most common is questioning of the facts – but can come in many forms. Doubt is placed on the validity of the measurement and you end up feeling confused as you never really got down to the root of the problem.

Secondly, be aware of ‘curve balls'.

These are where a totally extraneous issue is raised and before you know it the conversation has gone off in a totally different direction. It's keeping away from the question that really needs to be addressed to a safe subject that takes off the pressure and avoids the accountability.

For professional smoke screen or use of curve balls just watch any politician being interviewed on the TV or perhaps just be a fly on the wall in any of the meetings in your business!

Think about your own business and if you find smoke screens or curve balls being used on you or indeed by you then check to see whether true accountability exists in your business. Perhaps this is a symptom of a much deeper disease but that is a whole new issue.

 

Fluid Business Coaches, Andy Sleet and Ray Moore, are on the Fluid Business Podcast discussing accountability in more detail:

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FBP 096: Make business a success without sacrificing family life

Running a small business takes a lot of hard work. Whether it’s a start up or a third-generation family business, it’s likely you’ve done more than your fair share of 12-hour days and weekends. With Father's Day soon approaching, Ray Moore and Hugo Heij are talking about why you should focus on achieving a healthy work:life balance.

Read the blog here: thelevelsblog.com/what-price-will-you-pay/

Find out more about Ray Moore's book: fluidbusiness.co.uk/the-levels-book

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 095: Continuous Learning: Work Smarter Not Harder

Gazelles Certified Business Coach, Andy Sleet, has just returned from the Gazelles annual summit in San Antonio, Texas. Hugo Heij joins him in the Podcasting studio to find out what he learnt and why continuous learning is essential to remain relevant in an ever-changing business environment.

Andy discusses some of the highlights from the speakers, including the following books:

  • Robert Cialdini – Pre-Suasion
  • Michael Bungay Stanier – Say Less, Ask More & Change the Way You Lead forever
  • Chris Zook – The Founder’s Mentality: How to Overcome the Predictable Crises of Growth

Read more on the Fluid Business Coaching Blog.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 093: How effective is your appraisal system?

Ray Moore and Andy Sleet discuss the real purpose of an appraisal system and why it should benefit both employer and employee. Following the recent NHS system hack, Ray takes a different stance on his blog, highlighting why businesses should also regularly review computer systems to get the maximum benefit from their resources.

Read more here.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 092: Learnings from Necker Island

 

This week on the Fluid Business Podcast Hugo Heij and Peter Boolkah sit down to discuss Peter's recent trip to Necker Island with Sir Richard Branson. What were his key learnings? Listen to find out.

 

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

 

 

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FBP 091: Scale your business with Andy Sleet – Certified Gazelles Coach

Having recently achieved the Gazelles Coaching Certification, Andy Sleet talks through the framework including the Four Decisions – People, Strategy, Execution and Cash. These components are the recipe for scaling up high-growth businesses and achieving balanced business growth.

Andy is now certified alongside Peter Boolkah, making Fluid Business Coaching the only Gazelles Certified Business Coaching Practice in the UK.

To find out more about each of the four decisions, listen to:

FBP 054: Scaling Up – People with Peter Boolkah

FBP 055: Scaling Up – Strategy with Peter Boolkah

FBP 056: Scaling Up – Execution with Peter Boolkah

FBP 057: Scaling Up – Cash with Peter Boolkah

Read more here.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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Adapt or die, the choice is yours

Written by Ray Moore.

In today’s rapidly changing environment, businesses need to proactively adapt and ‘keep up’ with the pace of change. Any business that resists changing to market and industry developments faces loosing their competitive edge and ending up in an ‘evolutionary cul-de-sac.’ Here are the top two ever-changing areas that SMEs should focus on:

Technological advancements

Without change, we would still be using cash as our main method of payment. In the podcast (Episode 090), Andy and I chat about a high-street retailer that resisted the change from cash to using credit cards, which had a detrimental effect on the business. Technology advancements are often the catalyst for change and although it can be seen as a disruptor at first, in the long run it is likely to make for smoother and more convenient processes.

Customer expectations

Using the example of payment methods again; we know that card payment is the norm in almost all shops and restaurants. Customers expect to be able make card payments and don’t carry much cash around with them. Any business not accepting card payments is going to inconvenience customers and fail to meet their expectations.

The expectations your customers have are constantly changing. Today, many customers expect to be able to make contactless payment and in the near future your customers may expect something else. Being in touch with trends, your competition and industry developments is essential to meeting your customers’ needs.

As I mentioned in the Podcast, small businesses are not just competing locally, regionally or even nationally anymore, we are all competing in a much more globalised world, therefore we need to embrace the changes and not fall behind the curve.

Read more about this topic on my blog.

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FBP 090: Your business has two options: Adapt or die

Ray Moore and Andy Sleet discuss the pace of change and why businesses should be aware of industry trends. Business owners have two options: to proactively adapt and change with market and environmental changes, or to resist change and fall behind the curve.

Read more on The Levels Blog, or read Ray's article on why businesses need to adapt.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 088: Is your business ready for sale?

Join Andy Sleet, expert in readying businesses for sale, as he talks through the process of selling a business to help you understand and overcome the challenges that business owners often encounter.

Is your business ready for sale and will it survive without you? Read more here: fluidbusiness.co.uk/preparing-business-sale/

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.