FAMILY BUSINESS CONSULTING PROCESS

Business consulting in a family business is a highly customized process, designed keeping in mind the following primary factors:

• Entrepreneur’s mindset
• Shareholder’s risk-taking ability
• Family Business Capability
• Family Business vision and goals
• Family Business succession

The above factors answer a lot of questions, which easily help to design the basic coaching process and help determine the direction we wish to set for the organization.

The 5-Step coaching process:

• Assess the current situation – Gap Analysis – What needs to be addressed?
• Set goal matrix – Where to reach? Define the final milestone – The Vision
• Action Plan – How to reach? What sequential steps need to be taken? How to address the en-route challenges
• Execution strategy - Who will do it, and by when? Team empowerment – Authority, Accountability, Responsibility
• Goal Achievement – Where & When did you reach? Analyze performance

Set simple, achievable, and measurable goals. Move a step at a time. Progress continually.