Strategic planning for family business success in the coming year

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.

Share Post:

Developing a family business code of conduct
Family Business Foundations
Your family business charter

A family business code of conduct can be the key to successfully family dynamics and business endeavors. Many families in business don’t know where to start or don’t understand the purpose of having a code of conduct.

Read More »
Navigating success together - the critical role of family business advice
Family Business Foundations
Navigating success together: the critical role of family business advice

When you hear the term “family business,” a myriad of emotions and images may flood your minds—success, unity, complications, disagreements, and perhaps even heartache. The reality is that family businesses come with their unique set of challenges and rewards, and navigating this complex terrain requires more than just business acumen. It demands a special kind of guidance – family business advice.

Read More »
Frequently asked questions about family business
Family Business Foundations
Frequently asked questions about family business

Families in business often grapple with tough conversations, disagreements, disharmony, and disconnection. The unique dynamics of family relationships can introduce emotional complexities that extend beyond typical business challenges.

Read More »
10 tips for creating great family businesses
Tips for Family Businesses
10 tips for creating a great family business

Here’s a list of key strategies and tips to help family businesses thrive and succeed across generations. Running a family business is a unique journey filled with pride, joy, and challenges, and support is always here for you.

Read More »
Simplifying succession planning
Succession Planning
Simplifying succession planning

As a family working together in business, implementing a succession plan can be critical for ensuring your company’s longevity and continued success across generations. Here’s a simple, step-by-step guide that will help you navigate the process.

Read More »