Family businesses are unique, blending family and business dynamics. We have found that psychological issues and family dynamics, rather than technical issues, often need attention so that they don’t interfere with a successful family business or business transition. Families often face power struggles that can undermine otherwise successful family businesses. Our services aim to maximize opportunities for success and reduce the impact of disruptive family patterns in business. Our objective is to find optimal balance between the needs of the business and the needs of the family
The strength gained by the synergy of family and business is often tested as a consequence of:
- The family growing in size over the generations
- Marriage and divorce
- Business transitions: Entry, exit, transfer of leadership and/or ownership
- Governance
- Intergenerational transfer of family wealth
- Differences in working with Family vs. non family employees
- Differing views on the concept of “fairness”
- Dealing with over-entitled family members
MMCI works with family businesses to evaluate and assess or create succession plans that reflect the unique dynamics of each situation. We work to incorporate the needs and values of all family members through facilitated communication that creates powerful mutual understanding and agreement within the family.