Family Business Consultants – Don’t Suppress Conflict, Get Help from John Dewey

Family Business Consultants – Don’t Suppress Conflict, Get Help from John Dewey

Conflict between couples and family members is inevitable. Everyone holds their own opinion and has a different way of thinking and doing things. When you’re in a family business, the family issues can spread to business and create bigger issues. A natural offense to conflict for many people is to suppress it. As expected, you may find out this does not solve the issue and sometimes can have an explosive consequence. This cause the issues to become deeper seated.  John Dewey Family Business Consultants can help you unravel your suppressed conflict, learn to solve issues, and avoid future unnecessary conflicts. Stress is caused and developed over long periods of time with chain events of conflict or hardship. Whether its marital issues, financial issues, or management issues, John Dewey can help you get through it and set up a plan to avoid relapse and repeats. Conflict in a family business can tear a business apart and cause it to go under. The good news is the John Dewey has a plan for you.

When it comes to the stress of just owning a business and dealing with financials and the poor economy, the best plan is to have clear policies and maintain discipline. You should have a financial plan in order for the business as a whole that budgets income versus expenses and up-to-date cost trends. This means the business financial plan should be reviewed regularly and altered when necessary. Family financials should always be kept separate from the business. John Dewey Family Business Consultants will help you to determine a financial plan that is beneficial and profitable for your business and will help mediate any disagreements in funding by keeping it all about the best for the business. Sometimes this can be a hard task in a family business because everyone feels they are entitled to their fair share. Economic discipline is another important aspect of this process. Your business should stay up-to-date with economy trends. You should keep your business floating with the economy to ensure steady income, happy customers and continuous growth.  Without discipline and efficient professional training, you may find that it’s hard to stick to your policies and run a successful business. Discipline throughout the family business can minimize tension at an already challenging time.

Family Business Consultants – Don’t Suppress Conflict, Get Help from John Dewey

Family Business Consultants – Don’t Suppress Conflict, Get Help from John Dewey

Tough economic times bring stress all across the board, even when you have a plan in place. When the return form the business is golden, it’s easy to suppress the family business conflicts. If those conflicts aren’t dealt with, eventually they will surface and are much more likely to be ugly when an economic downturn arises and affects your business. Then when tough decisions have to be made and conflicts are all out on the table in every direction, business performance is likely to suffer. Family business conflicts can push the business towards liquidation or sale. John Dewey Family Business Consultants will help you to build a strong family business infrastructure, so that even when times get hard, your family sticks together under the policies of the business.

Life is unpredictable, especially in the business world. To help maintain your strong family business infrastructure during the hard times, there are a few things you should plan for ahead of time. This will help you to avoid family business conflict and address an economic downturn effectively. These decisions and steps can be hard to determine if you are in a falling family business, or there is already a mass of conflict. John Dewey Family Business Consultants is happy to educate you on your options and help you decide what will benefit your family and your business. The first thing you need to do in your family business is build, or return to, sound business management practices. You should create a realistic budget and track and enforce financial responsibilities. When budgeting, you should always ensure that revenues even on your worst month will cover your costs. Regular meetings within management are critical for discussing changes in business environment and the revenue of the company in order to develop plans to address them. The next task is to do the research behind what powers your dividends as a shareholder. Always prepare for lower distributions in an economic downturn. If you’ve done your research, you may have the upper hand at improving this situation. The third task is to always stick to your employment policy. Don’t stretch, bend, or ignore the policies you’ve had in your business during a tough time as this can negatively affect your business and the respect employees will have for the business. Policies are set for a firm reason that is beneficial to the success of your business. It can be easy during tough times to want to stray away from discipline, but this will only hold your business back from making it through the already tough economic downturn. The final step to this process, and perhaps one of the most valuable steps to avoiding family business conflict, is honoring the succession plan that you set up. It is hard to plan for a succession plan to land right in the middle of good economic times. If it falls in a rough patch, it can be tempting to back out, or hold off, on the succession in fear of losing the business. If the transfer is planned in advance and with John Dewey’s help you can rest assured that the transition will run smoothly and that you have fully prepared the new owners and management for what it takes to run the business.

Family Business Consultants – Don’t Suppress Conflict, Get Help from John Dewey