Strategic planning for family business success in the coming year

Picture of John Broons
John Broons

John Broons is a globally awarded family business expert. One of only three people in Australia to hold the coveted title of Fellow of Family Firm Institute (Boston, USA), John has dedicated his working career to answering the question: how do I guide and support families in business to a place where they’re thriving?

Embarking on the journey of planning for a successful year is a significant step for family businesses. With a purposeful mindset and a well-defined roadmap, your family business can navigate the challenges and set the course for greatness. Let’s delve into specific actions to ensure your family business thrives in the upcoming year.

Two cheerful small business owners smiling and looking at camera while standing at entrance door. Happy mature man and mid woman at entrance of newly opened restaurant with open sign board. Smiling couple welcoming customers to small business shop.
Reflecting on your goals

Take a moment to pause and reflect on your aspirations for the year ahead. Consider your personal, family, and business goals. Document these goals to bring clarity and intention to your path forward. Recognise that the synergy between personal and professional aspirations forms the foundation of a thriving family business.

Consider scheduling a dedicated reflection session to outline specific goals for the personal, family, and business dimensions

Your vision

Translate your dreams into a tangible vision for the year. Surround yourself with visual cues, such as images, quotes, and symbols, that inspire and reinforce your aspirations. This visual representation will serve as a constant reminder of the collective future you aim to build for your family business.

Habits that propel success

Identify key habits that can propel your family business towards success. Whether it’s fostering daily communication among family members or adopting a proactive mindset, recognise the power of habitual choices. Determine habits you want to increase or decrease in frequency to shape the trajectory of your family business.

Sharing with trust and accountability

Harness the power of connection by sharing your goals and aspirations with someone you trust implicitly. This could be a family member, mentor, or close friend. Creating a sense of accountability and support through shared plans allows for mutual encouragement, celebration of victories, and guidance during challenging times.

Embracing the power of dreams

Dreams fuel our passion, ignite our creativity, and propel us towards greatness. As you embark on this year, always keep this passion alive. Embrace this and let it be the launchpad for new ideas, bold endeavors, and uncharted territories. The joy and pride that come with being part of a family business are rooted in the limitless possibilities you can create together.

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