| The last several weeks we spent some time exploring some foundational components of your family business management system and developing some clarity around the future of your family farm. Specifically, we explored the What, Why and How of your business by defining the purpose of your family business, a vision statement, a mission statement and a statement of core values or philosophy of operations statement. READ MORE... |  The finishing touches of the foundation to your family farm management system are in place. Now what? |
This mini voyage was not anything earth shattering or result in an explosive new source of revenue for your family business. Instead, it focused on the soft side of your business…however; this voyage should have helped illustrate the need to physically and mentally develop the foundation for your business and upon which all other activities and operations will rest upon for support.
As you may have personally experienced in the past, or can at least visualize, this process of bringing other stakeholders in your family business together can help improve relationships and a better understanding of the big picture. In turn, it can indeed have material impact on your business, both from a pure financial standpoint and also from an organizational health standpoint. Both are important. After all, who wants to have a hugely profitable business but everyone is confused and hates it. Alternatively, working well together but not being able to pay the bills isn’t much fun either.
As you may have personally experienced in the past, or can at least visualize, this process of bringing other stakeholders in your family business together can help improve relationships and a better understanding of the big picture. In turn, it can indeed have material impact on your business, both from a pure financial standpoint and also from an organizational health standpoint. Both are important. After all, who wants to have a hugely profitable business but everyone is confused and hates it. Alternatively, working well together but not being able to pay the bills isn’t much fun either.
| NOW…you’re just getting started developing a management system for your business. Our experience has shown us that unfortunately, many family farms only go through these types of exercises and processes to check them off a list, print some stuff on paper, laminate it and stick it on the wall somewhere. Whoopy ding-dong! You now have to “do something” with all this fresh new information you have created and the clarity and understanding that was developed. If these “statements” are not ingrained into the culture of your family business and put into action on a daily basis, then you wasted a lot of time. |
As a leader in your family’s business, you must do more than just pay lip service to the corporate vision and core ideology. Instead, you and your senior management need to lead by example and regularly communicate why the organization exists, where it is going, what action needs to be taken and how other team members must act toward each other as well as vendors, customers, lenders, etc. Leaders that fully embrace this challenge elevate themselves from their competition because they will have a more focused and meaningful family business. It is an investment that is hard to quantify, but our experience shows that if pays off financially as well as improved relationships.
"Failing to plan is planning to fail." I hope these last several articles have been helpful. I have personally experienced the development of these foundational components of your farm management system and when done properly, with the right mindset, the formation of a clear core philosophy and vision can be a catalyst for enthusiasm, motivation, progress and improved results for your family business. If you have ever felt that your family business might be spinning its wheels, or you know there can be something better, maybe it is time to spend some time to spell out your core beliefs, communicate your family business vision and mission statements. I encourage you to use these past several articles as a guide to start your journey today. If you think it might be a little difficult to get started, we can certainly help you that way and help you and your family business grow.
Next in the development of a management system for your family farm we will explore the benefits of communication. Oh boy.... No, I am not talking about the kind of "communication" where you all sing Koombaya or you find yourself lying on your back talking to a shrink with a notepad and a stop watch. I am talking about the deliberate and purposeful discussion and decision to put a professional communication platform, or rules, in place. After all, most people know they have a communication problem. Let's not just talk about it. Let's put something in place to help improve communication on your family farm.
"To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others." - Tony Robbins |
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