The value of a specialist family business advisor

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?

When it comes to running a family business, there’s no shortage of challenges and decisions to make. We all know that family dynamics can add an extra layer of complexity. That’s why having a specialist family business advisor by your side can be an absolute game-changer.

Now, you might be thinking, “Why do I need someone else telling me how to run my own business?” And believe me, I get it. The pride and joy that comes from being part of a family business is unparalleled. But seeking advice and guidance doesn’t diminish your expertise or love for what you do. In fact, it enhances it. In this article I highlight some of the ways that a family business advisor can provide value to you and your family business.

Unlocking unique insights

A specialist family business advisor brings a unique set of skills and insights to the table. They understand the intricate dynamics that come with working alongside family members. They’ve seen it all, from the clash of personalities to complicated succession planning. They know how to navigate family disagreements and find common ground, guiding you through the opportunities and challenges that come from working in a family business.

Uncovering opportunities for growth and expansion

But it’s not just about addressing conflicts and challenges. A specialist advisor can also help you embrace opportunities for growth and expansion. They can provide expert advice on strategic planning, your business structure and how to maximise the skills and expertise of each family member in your business. With their specialised knowledge, you can make well-informed decisions that set your family business up for long-term success.

The value of a fresh perspective

Beyond their expertise, a specialist family business advisor offers something even more valuable: a fresh perspective. Sometimes, we can get so caught up in the day-to-day operations of our business that we lose sight of the bigger picture. An advisor can help you step back, reassess your goals, and explore new possibilities. They can reignite that entrepreneurial spark and inspire you to reach new heights.

Investing in the future of your family business

Bringing someone new into your family business may feel daunting, but think of it as an investment in the future. By bringing in a specialist, you’re showing your commitment to preserving your family’s legacy and ensuring its continued success for generations to come.

So, if you’re ready to take your family business to the next level, consider the value of a specialist family business advisor. Their expertise, insights, and fresh perspective can provide the guidance and support you need to navigate the unique challenges and celebrate the incredible joys of running a family business.

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Family members in a business meeting with their family business advisor
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