Managing Perspectives
Success Mindset for Family Businesses
Understanding and Assimilating
the Differences
The above mindsets exist in some form in all organizations,
and the key nuance to understand here is that there is
always a predominant mindset that drives decision-making;
it does not mean that mindsets are mutually exclusive.
Knowing the mindsets and actively allowing the next
stage mindset to germinate either through next generation
family or external professionals is what is required. The
family hires external professionals to bring in the mindset
and fresh perspective to take the organization to the next
level, but ironically, deeply engrained beliefs by owners
don’t allow the shift to take place.
Organizations should do critical self-evaluation to test
this hypothesis. This may actually give a cue to move stages
and related mindset and "consciousness".
The maximum failures are encountered in the shift from
stage 2 to stage 3 (survival to success or commercial to
transformational).
Success Roadmap
A deeper understanding of the organizational stage and
related cultural realities can help family businesses to take
the right decisions.
It is a Journey
Just as self-awareness is the first step to making any change
in an individual's attitudes and behaviors, awareness of the
stage and accompanying predominant mindsets can help
owners take an informed decision to initiate transformation,
even if it seems conflicting!
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