Only 12 % of family businesses make it to the third generation.
Did you know ?
As few as 15% of family businesses are able to get a succession plan in place.
54% of next generation entrepreneurs start their own entrepreneurial venture; giving up on the business they should have
1 in 3 Family business continue to work on only one sector and stay in their home market.
A family creed is the collection of a family’s meaningful activities and economic interests that help to identify, support and unite the family.
Families need to grow their financial assets while maintaining love and respect with effort towards building talent & legacy.
Building a business is about riding the highs and staying resilient through the lows. Creating an environment that nurtures entrepreneurship and ownership is vital for sustainability through generations.
Family Business and Family creed:
A family’s business is typically its most important asset and dominant activity.
While central to a family, the business is only one aspect of what a family holds dear.
The concept of the family enterprise describes the full scope of activities that families engage with the activities that define them, that shape them and that they perpetuate.
A family creed is the collection of a family’s meaningful activities and economic interests that help to identify, support and unite the family.
The objective for a family is to organize and manage its family creed so that the entire enterprise is productive, meets the goals of the family and can be continued into the next generation.
How Swaran has been helping family businesses
Breakthrough in mindsets and questioning comfort zones: ‘Achieving business excellence’.
Aligning plans,people and processes around definitive goals
Developing a common culture; a shared vision - making numbers a reality: ‘Bringing total ownership’
Build winning teams that work towards a common vision by striking a balance between competition and co-operation
Inculcating in participants the attitude to seek challenges and explore new avenues, to enable effective and out of the box decision making.
‘Making values non-negotiable’
Create an open environment where individuals create innovative ways to reach ambitious goals and are open to and energized by receiving honest feedback.
