About Laura Michaud. From the Kitchen Table to the Conference Table: Family Business Communication

Transcription

1 From the Kitchen Table To the Conference Table: Family Business Communication Presented by: Laura Michaud The Michaud Group 170 May Street Elmhurst, Illinois

2 About Laura Michaud Laura Michaud is one of America s leading family-business experts. She helps family organizations bring continuity into their businesses, strengthen their family and working relationships and motivate their employees. As VP of Sales and Marketing, board member, and third-generation of her own family s business, Beltone Electronics, she has had hands-on, practical experience not found among most family business speakers or consultants. Having lived through the very complex issues that confront family businesses, combined with her uncanny ability to educate and motivate, Laura is able to help her audiences and clients maximize their business s potential while maintaining a home and work life balance. Laura is a member of the National Speakers Association, the Professional Speakers of Illinois, and the Family Firm Institute. She has also been highlighted as one of the top businesswomen in the new millennium. She has been featured in such publications as Entrepreneur Magazine, Doors and Hardware, Builders Digest of California, Air Conditioning Today, Western HVAC News, Texas Contractor and other quality journals. Laura s company has helped thousands of organizations through her dynamic keynotes, workshops, and coaching, which have inspired, motivated, and educated family businesses nationwide. Laura s book, From the Kitchen Table to the Conference Table: Family Business Communication, helps family business members understand and use various communication skills, forums, and techniques to improve business and family relations, while maintaining the company s success. She shows readers how to transcend childhood roles and deal with different communication and behavioral styles in order to minimize conflict and gain maximum results. This book is guaranteed to improve family business relationships, whether you re at the kitchen table or the conference table.

3 Introduction: Trust, Cooperation, Understanding, Acceptance. These are important attitudes that your family members should have with each other. This unfortunately can be a challenge to have 100% of the time with family members in the family business. And you know that without the basics of trust, understanding, cooperation and acceptance your family and your family s firm could be brought to its knees in conflict. There are childhood roles that must be transcended; there are different personality types and different behavior styles that must be dealt with. Add to this the extra effort needed in estate planning, succession planning and other family business issues and it is not a surprise that the majority of firms don t survive past the second generation. While all family members have every intention of keeping the business going, factors ranging from misunderstanding, mistrusting and poor communication among family members and employees cause the business to close its doors. So what can we, as family businesses, do to keep our firms surviving the odds? It s constant planning, communicating and maintaining focus that will do it. This program is dedicated to the owners of family-owned businesses and their families who strive for continuity and quality in their firms. I hope you find it to be of value to you in learning practical methods to better understand people and how to communicate with them so that your firm can grow for longevity. Laura Michaud, MBA Family Business Builder

4 Family Business Facts: It is important to understand what happens to family-owned businesses through the generations. Below are numbers that have been studied and quoted over the years. Although they have been questioned recently by some in the field, the fact remains that a large majority of family-owned businesses do not make it through the second and succeeding generations. % of businesses in the United States are privately held. % of businesses having siblings or cousins involved in the next generation. When family businesses close their doors it s usually not because of a conscious decision to do so. It is because no one made the decision to do anything. Family business survival rate: through 2 nd generation through 3 rd generation through 4 th generation % of Senior generation shareholders haven t completed estate plans other than their will but % of them want the business to stay in their family. The facts are bittersweet. While there are many advantages to working in the family business, such as freedom and financial rewards, many problems unique to the family business arena often arise, placing undue strain on many family relationships. It is a known fact that 60% of succession breakdowns are attributable to relationship problems among family members. List the people below that are Easy to be with: More difficult to be with:

5 People Issues Are Usually the Biggest Issue: The facts are bittersweet. While there are many advantages to working in the family business, such as freedom and financial rewards, many problems unique to the family business arena often arise, placing undue strain on many family relationships. It is a known fact that 60% of succession breakdowns are attributable to relationship problems among family members. Dominance Words That Describe Drivers: Attributes: Direct Natural Leaders Bottom line organizer Daring Confident Innovative and forward-looking - Fearless Strong-willed visionary Efficient Fast-Paced Challenge oriented Visionary Risk-takers Initiates activity takes action Ideal Environment: Freedom from controls, supervision and details Innovative and futuristic-oriented environment Forum to express ideas and viewpoints Non-routine work Work with challenge and opportunity You will notice: Self-confident Risk taker Decisive Demanding Others Perceive Drivers: Demanding Impatient Aggressive Domineering Blunt Possible limitations: Fears loss of control Set standards too high Lack of tact and diplomacy Takes on too much too soon and too fast How to spot a Driver: Drives a power car Multi-tasker Notes:

6 Influencer Words That Describe Drivers: Attributes: Optimistic Influential Optimism and enthusiasm Enthusiastic Charming Creative problem solving Outgoing Friendly Motivates others toward goals Fun Persuasive Negotiates conflicts Ideal Environment: High degree of people contact Freedom from control and details Freedom of movement Forum for ideas to be heard Democratic supervisor with whom to associate Others Perceive Impellers: Emotional Touchy feely Impulsive Talkative Self-promoting You will notice: Motivated by social recognition Overly optimistic Impulsive Unrealistic Possible limitations: Lack of follow-through Unrealistic in appraising people Situational listener Trust people indiscriminately How to spot an Impeller: Confident in a room of people Talks fast with great animation Life of the party Notes:

7 steadiness Words That Describe Stabilizers: Attributes: Team player Warm / Friendly Dependable team player Loyal Helpful Work for a leader and a cause Predictable Cooperative Logical, patient and empathetic Kind Giving Service oriented Ideal Environment: Stable and predictable environment Environment that allows time to change Long-term relationships Little conflict between people Freedom from restrictive rules You will notice: Non-demonstrative Fears loss of stability Good listeners Motivated by sincere appreciation Others Perceive Stabilizers: Passive Fearful of change Complacent Too nice Sweet Possible limitations: Willing to give of self -puts their needs last Yield to avoid controversy Dislikes unwarranted change How to spot a Stabilizer: Wants to keep the peace Is loyal to family and company Drives practical car Notes:

8 Conscientious Words That Describe Careful Ones: Attributes: Analytical Perfectionist Maintains high standards Detail-Oriented Fact-finders Conscientious and steady Accurate Systematic Defines, clarifies gets information Rule-followers Courteous and tests Observers Reserved Comprehensive problem solver Ideal Environment: Where critical thinking is needed Technical work or specialized area Close relationship with a small group Familiar work environment Private office or work area Others Perceive Careful Ones: Critical Rigid Indecisive Restrained Controlling of their data You will notice: Attention to detail Analytical & accurate Motivated where accuracy is valued Possible limitations: Defensive when criticized Gets bogged down in details Critical of self and others How to spot a Careful Ones: Enjoys balancing checkbooks Have processes for everything Notes:

9 Handling Different Behavior Styles: With a small group of 2 or 3 people, discuss your lead behavior style and how you might handle the people in the other styles. When Dealing with Dominance: When dealing with Influencers: When dealing with Steadiness: When dealing with Conscientious:

10 Normal Situations Under Pressure Extreme Behavior D In- charge Deciding Demanding Leaves I Persuading Enthusiastic Oversells Gives up May pout S Supportive Friendly Gives in Acts hurt Accuses C Careful Quiet Can t decide Emotional Attacks Ideal Business Team: Dominance: Generates Ideas and insist on results Influencer: Goes out and sells ideas Steadiness: Assure ideas carried out bring in stability Conscientious: Covers details & assures job well done Ideas to take home:

11 Recommended Reading: Bandler, Richard and Grindler, John Frogs into Princes, Neuro Linguistic Programming. Moab, UT: Real People Press Blanchard, Kenneth The One Minute Manager. New York: Berkeley Publishing. Carlson, Richard Dr Don t Sweat the Small Stuff. New York: Hyperion. Covey, Stephen R The 7 Habits of Highly Effective People. New York: Simon and Schuster. Heath, Jinger Positively You. Change Your Thinking, Change Your Life. New York: Golden Books. Michaud, Laura From the Kitchen Table to the Conference Table: Family Business Communication. Hilton Head, SC: Cameo Publications. Pitino, Rick Success is a Choice. New York: Broadway Books. Richardson, Jerry The Magic of Rapport. Capitola, CA: Meta Publications.