What Behaviours Build Resiliency into the Family Business Dynamic?
In this episode of the Family Business Voice, Albert Myles speaks with Ramia about family dynamics, behaviours that build resiliency in the face of adversity and what to do when we are confronted with negativity.
Albert Myles is a former professional basketball player who is now a philanthropist, mentor and a leading expert in the family dynamic, mental health and healthspan issues affecting enterprising families around the world. In his work as a family advisor and health coach to a diverse range of clients from couples who manage SMEs to CEOs and professional athletes, he’s seen both the pressure that prominence can exert on families as well as some effective strategies to help turn that pressure into a force for good.
– Preserving wealth is only one small part of ensuring family business continuity. Family business leaders should invest as much time into preserving family dynamics and healthy family relationships as they do into looking after their more tangible assets.
– Similarly, if next-gens are drawn away from the operational side of the business, they should be allowed to explore. They can still contribute to the health of the family’s wider interests in what will likely be a more fruitful way than if they are pressured into doing something they don’t want to do.
– Establishing a safe place for open, honest dialogue is the first step in making sure that the health of a family’s dynamic is as secure as the health of the family’s business.