It's hard to believe that 2018 is almost upon us, and that a year has passed since our last festive round-up. We've had some wonderful contributions from our authors this year, and once again it feels fitting to take a moment to look back on the past 12 months and reflect.
Here are three of my personal highlights from the 2017 Family Enterprise Blog:
1. "Conflict is inescapable in any family enterprise"
This quote, from Michelle Osry's recent post on conflict and reconciliation, is a vital reminder that part of family enterprise success is dealing with conflict effectively, rather than aiming for the absence of conflict entirely.
Remembering that disagreement is inevitable in a family enterprise also serves to remove some of the guilt and introspection typically associated with family conflict, and helps families to understand that conflict is not a one-off problem to be 'solved', but a normal occurrence that requires ongoing management.
2. "Healthy, frequent, honest conversations are the closest thing to a 'silver bullet' entrepreneurial families have for dealing with a variety of thorny issues"
Unsurprisingly, communication was a theme that appeared several times this year, and this quote from Lucy Heywood's blog on communication in a digital age reminds us how important it is for families to spend time together in conversation.
Making good communication practices habitual remains a challenge for many families, and it seems likely that we will still be discussing the importance of communication in 2018 (and beyond). As Tony Cohen put it in his blog about the challenges of retiring – "even when we know that this is the answer, we don't seem to do it, so aim higher".
3. "Exhibit the love and passion that feeds the business, and the rest will speak for itself"
Another perpetual hot topic for entrepreneurial families is whether or not the next generation will choose to join the family business.
Peter Leach discussed several innovative strategies for engaging next gens in his post earlier this year, but the above quote from Rosine Makhlouf's post on the subject emphasises the heart of the matter. The love, passion and commitment of previous generations is the 'magic ingredient' that nourishes family businesses, and it is these that will attract the next generation and enable the family as a whole to negotiate even the most difficult challenges together in the future.
I hope you have enjoyed reading this blog over the past year, and that you will join us for more insights in 2018. As ever, please do get in touch to let us know any thoughts, feedback or comments you may have.
Happy New Year!
Alex
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