On Communication and Education

A large number of sources of dissatisfaction can be traced back to communication issues.

Personal views

“ Successful family businesses demonstrate outstanding levels of communication.”

“ Families complicate communications and the businesses complicate families.”

“ It’s important to have regular family discussions and give everyone an opportunity to talk openly and honestly about their feelings and their aspirations.”

“ People give you advice but it may be wrong. Spend more time digging yourself.”

“ People say one thing and may mean something different.”

“ We can be terrible at teaching people how to think.”

“ The most difficult conversation is to talk to Dad who is the boss.”

“ If any individual inherits less than the others, make sure they understand why.”

“ Never discuss business over supper.”

“ You must keep family and business relationships quite separate.”

“ It’s very difficult to give my brother instructions.”

“ Co-leadership can be a safeguard against bad decisions. We play off each other.”

“ Don’t sit around regretting decisions you have made.”

“ Just because it’s new, don’t go chasing after it.”

“ People sometimes forget the family members who aren’t involved and they need to be educated to be more responsible and not interfere. Often they don’t understand the vision of the company.”

“ It is important to start education at the lowest level of knowledge. People learn at different rates. The best way to become a team is to learn together. It would be good to start education early on in families and get them interested in what they (will) own.”

“ Educate family businesses to show them what will happen if they do not sort things out. It can be a time bomb waiting to happen. It will cost more emotionally to sort out later.”

“ By all means park the tanks on the lawn, but don't abandon diplomacy and don't leave diplomacy to generals.”

“ Appointing a family business adviser is a two way process. Don't get bowled over by the senior partner, buy the individual you will work with.”

“ Keep it simple.”

“ Clarify roles and responsibilities.”

“ Hold regular family meetings.”

“ All members should have input.”

“ Don’t try to sweep things under the carpet.”

“ Start education early in families.”

“ Learning is a way of life.”


Further Information

If you are the owner of a family business with a turnover greater than £1 million per annum you may wish to attend the Coutts Forum for Family Business Owners. To find out more about attending, please contact family.business@coutts.com

Coutts Cranfield Executive Education Programme for Family Business Owners

Find out more