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When you combine a family with a family business, the holidays can sometimes be less than Jolly. The lines between family and business life can be blurry in a family business making it less than optimal to separate the two.

New Year, clean slate idea. I understand the challenges and excuses that come up throughout the year. Whether it’s work being too busy, a wedding in the summer, or simply finding a time that works for everyone, I’ve heard it all. There are countless reasons to postpone or delay your succession planning talks. Life is busy, and there never seems to be enough time. The New year may be your perfect time to reset.

When you combine a family with a family business, the holidays can sometimes be less than Jolly. The lines between family and business life can be blurry in a family business making it less than optimal to separate the two.

Planning your family business inheritances and other estate assets doesn’t have to be a battle. With some planning and clear communication and you can keep your family strong and your business legacy thriving. Remember, at the end of the day, you’re not just passing down a business – you’re “passing down your success”.

None of us have a crystal ball, we don’t know when the time will come that a succession might need to happen. You might not be ready to transition your business just yet, but what happens if have to walk away for health reasons? Start the conversations and planning now. Or someone else will make the decisions for you. Like the family law act or the courts. Nothing ignites a family feud more than money or misunderstandings. There are estate litigators for a reason. I am sure you don’t want your legacy to be that you failed to plan, and it ripped your family apart.

In my experience, the key difference between a family business and an entrepreneurial business is how the business was founded. Essentially how the business was started. What I mean by that is, was the intention from the get-go to be a business owner and it didn’t matter the industry? Or was the business developed from a need to pay the bills and support your family, something safer?

Not only do you want to share your personal and business vision of the future since they are so entwined but ask your family members for their vision of the family business. You may not have ever asked them. Now is the time to ask. Are they interested in the family business, or keeping it in the family? Have they been asked or shown a path to joining the business? What about your-in-laws? Have you talked to the spouses of your kids? It doesn’t have to be a child that comes into the business. Maybe the talent or enthusiasm you are missing is right in front of you?

It is important because this is your mini sales pitch, it may be your only chance to engage with your potential client/customer, you want it to be so good that they will want more information from you, not run in the other direction. It may be the only attempt to sell yourself, your product, or your service to your prospect. So, it better be good and roll off your tongue without thought, and they will remember you!

This entire experience has redefined my idea of networking. Networking is not a social group, networking groups should people who have come together to find ways to work together, to help propel, encourage and introduce you to other people who can also help you. Distance should not be a barrier (unless you are limited in your industry and compliance). For me family businesses are all over the world. The issues they face as 1st or 2nd generation businesses are not unique to .a specific country. Families are families!

If you don’t have a way of keeping people accountable, implement a system to monitor weekly, it will empower and motivate them to get the job done. You the company and your team members will all be proud and happier being able to see the progress

Communication is essential and all around us. It is at work, at home, with friends and strangers, it is the foundation for success in all relationships and nearly every aspect of life. Yet, despite our constant communication, we often struggle to do it effectively, especially with those closest to us. Why is it so hard?

Another thing I love about Spring is the feeling I have after I have changed over my closets and my clothes are organized and neatly folded on the shelves. I can see my clothes, they are not a jumbled mess.  It saves so much time when choosing what to wear to the office or wherever I am going that day. Also, like my short-term plant memory loss, I am surprised at my spring clothes. I forget from season to season what I have. I think it is on purpose! It’s like a brand-new wardrobe, that hopefully, still fits. Sometimes they shrink in the closet over the winter. But before I put the clothes in the closet, I sort them into three piles, a need-altering pile, and giveaway pile ( the shrinkage pile), a the just perfect pile. Boy, I feel ready to take on the world when I am organized and in the closet. Time to celebrate.

 What better place to open up the lines of communication and get the conversations going than in a neutral place, a warm space, that it comfortable yet has the new car smell and excitement.

In November 2023 I was certified as a Women Owned Business by WeConnect International weconnectinternational.org . I was first introduced to WEConnect by the BDC  BDC – The Bank for Canadian Entrepreneurs | BDC.ca .
I have worked with the BDC and have been a client of them for many years. When they suggested I look into it, I jumped.

The first thing I bring up with any new client is that it all starts with communication, and it is not just about the words. There are so many elements of communication, it is the lifeblood of relationships—both personal and professional. Yet, despite its importance, we often struggle to communicate effectively. Let’s look into it a bit more.

The first thing I bring up with any new client is that it all starts with communication, and it is not just about the words. There are so many elements of communication, it is the lifeblood of relationships—both personal and professional. Yet, despite its importance, we often struggle to communicate effectively. Let’s look into it a bit more.

Succession, or transition whatever you want to call it, is a critical aspect of family-run businesses that is often more complex in practice than in theory. It’s a process that requires careful planning, open and honest communication, and a delicate balance between business needs and family dynamics.

Communication is essential and all around us. It is at work, at home, with friends and strangers, it is the foundation for success in all relationships and nearly every aspect of life. Yet, despite our constant communication, we often struggle to do it effectively, especially with those closest to us. Why is it so hard?