On Family Values

" We had to decide whether we wanted to be more comfortable or drive the business."

" Look after the business and the business will look after you."

" Family businesses have a huge survival instinct."

" The business comes first, the family second."

" A family culture is a great asset to a business, but the employees must see that it is governed fairly."

" The business is not ours to sell. It’s ours to hand on."

" Our mission is to sustain, develop and create family wealth"

" The primary purpose of business is to create products and services that people value"

" It’s important to sort out what are the values and the vision. Families must understand the values and vision if they are going to communicate with the people running the business."

" Family members may be more gullible because they are more benevolent."

" The family business for us is very much a bond."

" Treat people with respect."

" It is important to be able to discuss the undiscussable."

" Values create a common language of trust inside and outside the family business."

" It is essential to have trust"

" Be prepared to ask for advice"

" Values need to be lived, not just espoused"

" Be caring and sensitive, but not over-sentimental"

" There is an emotional attachment to the business that has to be severed"

" Working together as a family is a strength and a weakness"

" Families need to buy in to a common goal"