There has to be an end to the road to nowhere…..
- During November of 2010, the XYZ Family almost faced two extremely serious calamities concerning the health and well-being of two of their senior members. While I do not have an obsession with religion, I do believe however that only an act of God prevented the Family from being hit with a Tsunami, for the consequences would have been nothing less. The Family should not be blind to learning lessons from this near-Tsunami.
- One of the major weaknesses of the Family, at least in Business, is the apparent absence of Visioning, thinking, preparing for the future. Every action seems to be aimed at the here-and-now, with a defense that the future of the business is not predictable, because of the nature of the business itself. And there are no exceptions to this attitude.
- And then, of course, like in many families in business, no one in the family likes to be held accountable.
- I also believe that the growth of businesses has been stifled by lack of concern for the future resulting in more people chasing lesser opportunities. In such a situation, conflict and stresses and strains are inevitable, and even more so when wealth creation is hampered by lack of choices for compensating ups and downs.
- Finally, in this process of an absence of forward thinking, the next generation, existing as well as any other capable youngsters who can be inducted into the Business, plus the next generation as investors, will, by negligence or otherwise, be left holding the baggage of the past as the legacy for the future. And I am no genius to foresee the inevitable end of the XYZ Family in the not too distant future. A negative legacy with limited choices is a dangerous mixture, offering no scope for positive adjustments.
- I don’t have all the answers, but I do know that the responsibility for leading a productive, healthy, and peaceful ‘senior citizen’ life, and for providing a better future, to the next generation, of your own families, particularly in terms of preparation, and in terms of financial and mental well-being, lies squarely with the four Seniors in the Family Business. And the serious problem in this statement is the fact that as 50% of the Seniors are in a long-drawn conflict, the other 50% will be rendered ineffective, and therefore a negative legacy is a foregone conclusion.
- I strongly recommend, therefore, that having escaped a Tsunami at this point, the time has come to mend fences, personally and professionally. God may not be so kind again, and it is foolishness to challenge God, and have the next generation holding a negative legacy.
- It is time for Truce, for the sake of your immediate families, for the sake of the larger XYZ Family, and for yourselves. This ‘High Risk Conflict’ is a loser from the start: there is nothing to win. Even the future will be lost.
- The XYZ Family must win the battle, against itself, for the enemy lies within….
& Advisor to Family Business
PROMAG Consultancy Services
Apt. 206 Brigade Rathna
42 Ranga Rao Road
Bangalore – 560004 INDIA
Tel. +91-80-26676298/ Cell: 9845271498
Strengthening Family Dynamics for Family Business Growth…….since 1985