On Teamwork and Roles in Family Business

It is important how decisions are taken in the family.  Teamwork is a choice, not a given.

Personal views

“ Those who run the business need to get the bulk of the rewards.“

“ Look carefully at the children not in the firm.”

“ Don’t underestimate the power of agreement.”

“ It can be very hard to recruit someone who might make a decision that you would not have made.”

“ We had to ask if we hired exceptionally talented people and then wondered why it all went wrong.”

“ I am so proud that I am surrounded by people who are better than me.”

“ Try not to impose expectations or responsibilities that the individual is ill equipped or reluctant to take on.”

“ Is there an acknowledged leader and if so who is it?”

“ Family members have to perform better than their non-family peers.”

“ Which sibling is the one to whom the family turns in a crisis?”

“ Families might know each other too well and/or not know each others’ strengths and weaknesses.”

“ I have seen very few owner-managers step back and say get on with it.”

“ Don’t hire someone you don’t want to work with.”

“ Management roles need to be decided on business need and personal skills rather than nepotism.”

“ The business comes first, the family second.”

“ Have a deep knowledge of what each member brings to the team.”

“ Consider appointing a non-executive director to help bring objectivity.”

“ Members of the family have different roles – it can lead to confusion.”

“ Family businesses are much more strategic than tactical.”

“ There can be a mix of interests – private and shared.”

“ Focus on issues, not personalities.”

“ Trust can vary signifi cantly.”

“ Take the opportunity to socialise and build relationships.”

“ Know when you are there as a manager or as owner – be clear about your role.”

“ Family meetings need to be kept outside the boardroom.”

“ Can you clearly and concisely state your family values and goals?”

“ There is a need for leadership that engages others, but does not over control.”


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