Henryâ€™s approach is personal, collaborative, custom and independent.
Henry does all the consulting work with the families and businesses personally. It is not handed off to another consultant and it is not shared with other consultants. This enables him to grasp the entirety of the family business situation, thus ensuring a comprehensive solution that has the strongest support and best chance for success.
With that said, most family business solutions will require the input of other professionals such as CPAs, Attorneys, Insurance Professionals, Financial Planners, Wealth Advisors, and Therapists. Henry does not provide these services, but will work with the familyâ€™s and businessâ€™ advisors to bring about the optimal solution. If the family business has a gap in a required area, assistance will be provided to bring professionals who are the best fit for the particular family business situation.
Also, while research, best practices, and experience will be relied upon, there is no predetermined formula or â€ścookie cutterâ€ť approach on understanding or solving a family business situation: every family business situation is unique and therefore each requires an approach and methodology that is appropriate to that situation in order to achieve effective results.
The goal is the advancement of the family and business as a whole. Thus, an independent evaluation will be conducted, taking all information into consideration, and a course of action will be developed that will be in the best interests of the entire family and business. This could range from the rapid promotion of new leadership, to the sale of the business, to a myriad of points in between.
Some results that can be expected from this approach include:
- Succession Plans for ownership and leadership
- Successor Development
- Improved Sibling Cohesion
- Better family gatherings and holidays
- Construction of effective buy/sell agreements
- Leadership Development Plans
- Understanding of Family vs Business vs Ownership
- Next Generation Mentoring
- Assistance with acquiring appropriate professional advisors (CPA, Attorney, Insurance)
- Development of policies and procedures
- Improvement of business operations
- Enhancement of skills and talentsBetter communication between generations
- Next steps for current generation, personal and professional
- Management of family conflict
- Improved trust between family members
- Development of a family code of conduct
- Effective Family Meetings
- Understanding of life goals
- Improved next generation cohesion
- Family employment policies
- Family compensation plans
- Improvement of business value
- Clarity of roles and responsibilities
- Strategic Business Plans
- Written Family Constitution
- Implementation and management of Board of Advisors