{"id":561,"date":"2018-12-04T19:28:42","date_gmt":"2018-12-04T19:28:42","guid":{"rendered":"https:\/\/ebandlmarketing.com\/blog\/?p=561"},"modified":"2019-03-15T16:33:50","modified_gmt":"2019-03-15T16:33:50","slug":"the-worst-and-the-best-companies","status":"publish","type":"post","link":"https:\/\/ebandlmarketing.com\/blog\/the-worst-and-the-best-companies\/","title":{"rendered":"The Worst and the Best Companies"},"content":{"rendered":"<h1><strong>The Worst and the Best Companies<\/strong><\/h1>\n<h2>Guest Blogger: Ellen Rohr<\/h2>\n<p>According to an American Management Service, Inc. survey compilation, <a href=\"https:\/\/www.amserv.com\/family-business-consulting\/\">http:\/\/www.amserv.com\/familystatistics.html<\/a> &#8230;<\/p>\n<ul>\n<li>Family businesses comprise 90 percent of all business enterprises in North America.<\/li>\n<li>Only 30% of family owned businesses survive to the second generation, 12% to the third, and 3% to the fourth.<\/li>\n<li>Of CEOs due to retire within 5 years, 55% have not yet chosen their replacement.<\/li>\n<\/ul>\n<p>According to my experience, the <em>best<\/em> companies I know are family businesses and the <em>worst<\/em> companies are family businesses.\u00a0 When it works, you have aligned team members building on solid, functional, trusting relationships.\u00a0 Communication is streamlined.\u00a0 And there is the pride of creating a legacy of opportunity and wealth.<\/p>\n<p>When a family business doesn\u2019t work, it\u2019s awful.\u00a0 Unresolved family issues (\u201cDad always liked you best!\u201d) sabotage communication and production.\u00a0 Unqualified offspring are hired and are given a pass when it comes to policies and procedures.<\/p>\n<p>Here are tips for putting the \u201cfun\u201d in dysfunctional family business\u2026.<\/p>\n<ul>\n<li><strong>Have the conversation.<\/strong>\u00a0 Could you gather the family\/business members together for a day, or a half day, and ask this question?\u00a0 Answer individually, then share your answers.\n<ul>\n<li>\u201cWhat do I want to be and do and have?\u201d<\/li>\n<li>If you don\u2019t trust that you could meet peacefully as suggested above, invite a counselor or spiritual leader to facilitate the meeting\u2026and keep things civil.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Commit to an Organizational Chart<\/strong>. Clarify who reports to whom and who is in charge.\u00a0 Map it out.\n<ul>\n<li>Then, create a short bulleted list of responsibilities for each position on the Organizational Chart.<\/li>\n<li>There can be only one person at the top.\u00a0 Someone must make the call and set the sail.\u00a0 Is it you?\u00a0 Lay claim to your position.\u00a0 Be the leader.\u00a0 Is it someone else?\u00a0 Embrace him or her as the leader.\u00a0 There are advantages to being the captain as well as the lieutenant.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Put a business plan together.<\/strong>\u00a0 The tips above will help you get started.\u00a0 Gather the family members together again.\u00a0 Write down what you want\u2026as a family, as a business.\u00a0 Who does what.\u00a0 Why.\u00a0 Who wants what you have to offer.\u00a0 How much to charge.\u00a0 How will you market and sell it.\u00a0 How will you make good on your promises.\u00a0 What actions will help you do this.\n<ul>\n<li>Put the pages in a binder.\u00a0\u00a0 Now, you have moved your ideas from thought-form to physical-form.\u00a0 That\u2019s a powerful step.<\/li>\n<li>You can do this in a weekend.\u00a0 Check out <a href=\"https:\/\/ellenrohr.com\/catalog\/the-weekend-biz-plan\/\">The Weekend Biz Plan<\/a>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Choose to stay or go.<\/strong>\u00a0 You don\u2019t have to work in the family business.\u00a0 Really.\u00a0 You could go elsewhere.\u00a0 After the initial upset, you will probably still get invited to Thanksgiving dinner.\n<ul>\n<li>If you choose to stay, be there.\u00a0 Be all in.\u00a0 No more sitting on the fence, whining, complaining or wishing.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Put \u201cbuy sells\u201d together and get \u201ckey man\u201d insurance.<\/strong>\u00a0 At some point, someone is going to want out or need an exit.\u00a0 Plan so that family members can leave without collapsing the business or the bank account.<\/li>\n<li><strong>Let go of the worst<\/strong> and move towards the best.\u00a0 You could just set the baggage down.\u00a0 You could let the old wounds heal.<\/li>\n<\/ul>\n<p>Don\u2019t wait for her to change.\u00a0 Don\u2019t wait for him to die.\u00a0 Decide now that you are going to live your best life, and \u2013 perhaps \u2013 create your \u201cbest\u201d family business.<\/p>\n<p><img loading=\"lazy\" class=\"alignleft size-thumbnail wp-image-569\" src=\"https:\/\/ebandlmarketing.com\/blog\/wp-content\/uploads\/2018\/12\/ellen_rohr_headshot_small-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/p>\n<p><strong>Ellen Rohr<\/strong> \u2013 The Plumber\u2019s Wife turned <a href=\"http:\/\/www.barebonesbiz.com\/business-makeover-expert\/\">Business Makeover Expert<\/a>\u00ae<\/p>\n<p>Once upon a time, Ellen got involved in her husband\u2019s company after his partner died unexpectedly. Boy was she humbled! It seemed like lots of money was moving through the company, but at the end of the month there was never any money left. Thankfully, Ellen found terrific mentors, savvy contractors who taught her how to keep score in business, how to put a simple business plan together and how to make money.<\/p>\n<p>Ellen started Bare Bones Biz, a venture capital and consulting company in 1995 to help folks of all ages turn their big ideas into successful businesses.\u00a0 Ellen is also a successful franchisor, helping launch a plumbing franchise to 47 locations and $40 million in sales in under 2 years. \u00a0Ellen is currently the president of Zoom Drain and Sewer, LLC since 2014.<\/p>\n<p>Ellen has appeared on television over 50 times sharing Business Tips.\u00a0\u00a0 She is also a columnist for Huffington Post, PHC News, and a contributor to many business journals and trade magazines.\u00a0 She takes ordinarily dry-as-dust business basics and makes them simple and fun.\u00a0Ellen is also the author of four business basics books:\u00a0 <a href=\"http:\/\/www.barebonesbiz.com\/catalog\/where-did-the-money-go\/\">Where Did the Money Go?<\/a>, <a href=\"http:\/\/www.barebonesbiz.com\/catalog\/how-much-should-i-charge\/\">How Much Should I Charge?<\/a>, <a href=\"http:\/\/www.barebonesbiz.com\/catalog\/the-bare-bones-biz-plan\/\">The Bare Bones Biz Plan<\/a>\u00a0and\u00a0<a href=\"http:\/\/www.barebonesbiz.com\/catalog\/the-weekend-biz-plan\/\">The Weekend Biz Plan<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Worst and the Best Companies Guest Blogger: Ellen Rohr According to an American Management Service, Inc. survey compilation, http:\/\/www.amserv.com\/familystatistics.html &#8230; Family businesses comprise 90 percent of all business enterprises in North America. Only 30% of family owned businesses survive to the second generation, 12% to the third, and 3% to the fourth. Of CEOs due to retire within 5 years, 55% have not yet chosen their replacement. According to my experience, the best companies I know are family businesses and the worst companies are family businesses.\u00a0 When it works, you have aligned team members building on solid, functional, trusting relationships.\u00a0 Communication is streamlined.\u00a0 And there is the pride of creating a legacy of opportunity and wealth. When a family business doesn\u2019t work, it\u2019s awful.\u00a0 Unresolved family issues (\u201cDad always liked you best!\u201d) sabotage communication and production.\u00a0 Unqualified offspring are hired and are given a pass when it comes to policies and procedures. Here are tips for putting the \u201cfun\u201d in dysfunctional family business\u2026. Have the conversation.\u00a0 Could you gather the family\/business members together for a day, or a half day, and ask this question?\u00a0 Answer individually, then share your answers. \u201cWhat do I want to be and do and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11,59],"tags":[76,75],"_links":{"self":[{"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/561"}],"collection":[{"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/comments?post=561"}],"version-history":[{"count":7,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/561\/revisions"}],"predecessor-version":[{"id":643,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/posts\/561\/revisions\/643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/media\/567"}],"wp:attachment":[{"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/media?parent=561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/categories?post=561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebandlmarketing.com\/blog\/wp-json\/wp\/v2\/tags?post=561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}