Has this happened to you before?

You are the head of the family enterprise, effectively the CEO, CFO and COO. Family holidays are two weeks away and you have about 4 weeks of work to do before leaving, let alone any new matters that may arise before you depart. You are harried and approach all problems with gusto hoping that with sheer tenacity, you will overcome all of the work stress so that you can leave with a clean slate. Who can you turn to for help, before you go and while you are away?

Many a leader has built and runs the family enterprise well, yet has not considered seeking help, when it is most needed. Many studies have shown that building the success of the family enterprise, often is directly the result of the efforts of a leader or leaders of the business. Having too many decision makers can slow the development and growth of the business while it is building. However, once an enterprise is approaching a level of maturity, the strength of the group and family can protect the business and what has been established and built.

So back to our problem. What has not happened? May I suggest you think about it and have posed some preliminary questions:

– have you shared contact with your key customers with a trusted person in the enterprise?
– have you shared contact with your key suppliers with a trusted person in the enterprise?
– on operations of the enterprise, does a trusted person have decision making authority as needed in the operations processes?
– who can sign cheques and has authority over the bank account?

Look upon this pressure and time to being away on vacation as an opportunity to begin the process of building your team. This process can take some time and success is usually measured in incremental steps.

Here is a suggestion:
– ID and prioritize the key matters that you must address before you leave and while you are away
– determine how many of these matters you can attend to before you depart
– while away, spend some quiet time reflecting on how and when you can begin to share some knowledge about running the business
– consider whether you have the talent in house, including family members, or if you need to seek outside talent
– have a rest during your vacation and try to unplug completely for a period of time. The time that you take to recharge will make you refreshed and better upon your return.

Conclusion: this team building takes time to succeed

Learn, think, apply!