A typical question to me – Raju Swamy – from members of Family Business Clients, at the initial stage, has often been:
“We know all these things are required, but how will you help us implement it?”
My approach to problem solving in the context of Family Business has been profoundly influenced by the ‘Logic of Business’ in general, and of the Family Dynamics that influence Family Business, in particular. I do believe in, and I do promote, certain ‘Core Values of Family Business’……
Trust, Integrity, Ethics, Relationships, Reputation, Results, Accountability…..TIERRRA….
TIERRRA emphatically relates to building of Trust, Credibility, Confidence and Support of all the Stakeholders of a Family Business who directly and indirectly influence the sustained well-being and performance-driven growth of the Business. Obvious Stakeholders are the Family itself, Regulatory arms of the Government, Customers, Employees, Unions, Suppliers, Financial Institutions and Bankers, Media, Advisors, the Statutory Board Members including in particular the genuinely Independent Directors, Business and Trade Associations, and there could be others related to specific businesses.
I believe it is finally the ‘Business’ that will provide the resources for building family security and wealth, and of wellbeing, and of peace. Therefore, Business has to be Governed, Strategized and Structured to grow profitably in perpetuity.
To be able to move in the above direction, and to build a continuous forward movement of visible progress, my first steps will be to meet with, and understand the key motivations and needs of each of the Family Members in Business (FMB) who will be part of the exercise.
Every single step I take will be governed by my strong belief that Growth is the greatest driver, Stagnation the greatest enemy. All actions that I initiate will be directed towards Growth of the Business, and of its Constituents.
Growth supports and perpetuates Unity, always…