Family Business Institute Consulting

What's In Store for Family Businesses for the Rest of 2012?

Forecasting what's going to happen in our dynamic small and family business economy is not for the faint of heart. But some organizations are intrepid enough to make the leap, and there are things we may glean from their reports. See why reviewing leading economic indicators is important for you and your business here.

As 2011 came to a close and 2012 got off to a start, there was a great deal of optimism among family business owners and operators that The Great Recession was finally over. There was some slightly encouraging news from the housing industry that we had hit the bottom and were beginning to rebound a bit. As for The Family Business Institute, one of our internal barometers looked encouraging; the number and frequency of family businesses contacting us shot upward to a rate not seen since 2008. At speeches and conventions, we were hearing tales of modest improvements all around the country. In short, many family business leaders were breathing sighs of relief and dreaming of a return to the good old days.

Not so fast, Brothers and Sisters! Recent data from The Conference Board, Tatum CFO, and The National Federation of Independent Businesses (NFIB) indicate that, while the economy is no longer in recession, the recovery is fragile and is historically weak when compared to previous recoveries.

Why are family businesses pulling in their horns and managing conservatively once again? What happened to the optimism of Q4 2011 and Q1 2012? There are two primary reasons:

1. Family business owners are very concerned about the weak recovery slipping back into recession. Most family firms have cut, cut, and cut some more until they feel they have not only cut the fat out of their companies but have also had to cut flesh as well. Many have had the heartbreaking task of letting trusted and valued employees - friends - go for the sake of the business' health. If things turn down again, as they have in England and Western Europe, they can't imagine where they'd make their next round of cost reduction, and worse, they wonder if it's worthwhile to even stay in business when it's simply not fun anymore.

2. Family business leaders are terrified of what our politicians are doing to our country and business climate at the public policy level. It's hard to tell intelligent, perceptive business people who have dramatically pared back the size and scope of their companies and personal lifestyles that federal, state, and local governments cannot set priorities and cut budgets but instead must continue to grow without any real world constraints whatsoever. They see what fostering cradle to grave entitlement mentalities has done to the domestic workforce, and they see in Western Europe the disastrous results of the Nanny State gone wild. Most family business leaders believe in self-reliance and individual accountability, and know in their hearts that spending, regulating, threatening to tax, and creating ever more dependence on government is no way to rebuild our economy. Perhaps many are waiting to see the results of the fall election before getting too set with their future plans.

Family businesses are nothing if not courageous and resilient. But, in spite of their pluck, they are not immune to the slow growth, hypercompetitive nature of macro economy. The forecast for the balance of 2012 is a "New Normal" way of thinking about managing the people and resources in your family business. When there's better news, we'll be thrilled to pass it along.

The Family Business Institute is a professional consulting firm dedicated to serving the needs of the family and closely held business market. For more information, visit our website or contact us by calling (888) 438-1948.

Wayne Rivers Discusses Business Tips During an Economic Crisis

Tough economic times don’t have to mean the end of your closely held company. In fact, a bit of business savvy can help make your family business more profitable than ever before. Family Business Institute president Wayne Rivers offers helpful tips for family business owners.

In this video, Wayne Rivers offers tips on identifying potential cash flows. These funding resources will help your business stay alive in the present and thrive in the future. Rivers suggests that family businesses reduce marketing costs with cost-effective advertising. Also, family companies are directed to get professional consulting help when they need a fresh perspective.

Family Business Institute can help your family business become stronger and more secure. Our management training makes it easy to invest in the future of your company. Contact us at (888) 438-1948 to learn more.

What Wayne Rivers Has to Offer You and Your Small Business

Running a successful family business can be challenging for even the most savvy businessmen. Managing a company becomes even more difficult when relationships between loved ones come into play. When you need help, call upon consultant Wayne Rivers. He offers  proven solutions to family business problems:

Personal Experience

Wayne Rivers knows the stress that comes with running a family business. The Family Business Institute began as a joint venture with his father-in-law. Thanks to perseverance and effective management, the business now flourishes as a national resource for closely held businesses. Business owners can connect with Rivers, because he knows their struggles first-hand.

National Credentials

Wayne Rivers is more than an experienced family business owner—he is also a highly successful author on topics pertinent to family-run enterprises. His three books, Prescriptions for a Healthy Family Business, You Don’t Have to Die to Win, and The Top Nine Reasons Family Businesses Failhave already helped numerous family businesses nationwide. Family Business Institute.

Signature Solutions

Rivers’ original methods offer solutions to your family business problems that can’t be found anywhere else. The GAMEPLAN™ approach is a family planning strategy with proven results. This business outline offers clear direction to businesses during every step of the start-up process. Rivers also offers the unique Performance Roundtable. This educational program helps business owners to delegate more effectively, enhance workplace cohesion, and improve their own quality of life.

Contact Family Business Institute if your closely held company is getting off the ground, struggling, or just looking for some direction. Visit our website or call (888) 438-1948 to find out what Wayne Rivers can do to improve your business.

Small Business Blog App

Access to industry information and fresh strategies may be just what your small business needs. That’s why the Small Business Blog app for Android gives users access to the latest family business information.

This app plugs users into timely articles on issues that impact their companies. Blog topics include money management, customer service, and industry trends. Download this application today for an informed leg up on the competition.

Running a family business takes a balanced mix of intrapersonal skills and organization. Learn how the Family Business Institute can help your closely held company. We’ve been working closely with family businesses and understand the unique challenges they face. We provide solutions for both the family and the business. Contact us by calling (888) 438-1948 or visiting our website today.

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Looking to Improve Your Family Owned Business Revenue? Family Business Institute Can Help!

With the current state of the job market and overall economy, it’s no wonder that more individuals have chosen to invest in family-owned businesses and at-home enterprises. However, the same job market and economic status that led many to start their own family businesses also make it more difficult to increase business revenue. Fortunately, Family Business Institute offers a number of services to help family business and closely held business owners improve their outlook.

Family Business Institute provides a number of solutions utilizing our firm’s proprietary gameplan approach, which includes The Family Business Diagnostic, The Healthy Family Business Prescription, and the Sequential Implementation Method.

• Business Assessments evaluate family and business issues in order to develop plans for dealing with potential challenges and executing projects in a timely manner.
• Succession Planning addresses multi-generational planning and other issues related to the management and ownership of assets during business transitions.
• Conflict Resolution brings issues to the surface to create a relaxed work space.
• Recession Planning works to turn economic challenges into chances for growth and development.
• Strategic Planning facilitates the development of your company’s mission, overall vision, and works to create a roadmap of tactics and strategies to achieve your goals.
• Expense Reduction includes audits, cash flow analysis, and benchmarking.
• Leadership Development identifies the leadership capabilities you need to help your business grow and become sustainable.
• Human Resource Management ensures your company has the right human resource management team with the proper roles and skills needed.
• Business Valuations look at the value drivers both historically and for future development.
• Family Governance develops principles, policies, and procedures to ensure family togetherness.
• Family Meetings and Retreats allow you to conduct meetings with family members to boost excitement.
• Estate Planning aligns the needs of the family and business with the overall goals of company preservation.

Whether you’re just starting up or need help improving business revenue, Family Business Institute is here to help. Learn more about our process management and management training services by visiting our website or contacting us at (888) 438-1948.