Earlier this week, we had some work done in our backyard by a landscaper we’ve been doing business with for more than ten years.
After the workers left, I looked at the shrubs they had just planted, and for a moment or two, I was a little disappointed by how small they were.
But after a bit of reflection, I started to smile, thinking that the important part had been done: planting them. For the rest, all it would take was patience.
It’s important to show patience in many areas, and also to adopt a positive attitude, while developing our capacity for delayed gratification.
But patience, attitude, and our ability to wait for rewards are not enough in most cases.
Just like the landscaper, who had done the work (and whom I paid to do it) of planting these new plants, it’s important not to overlook that a certain amount of effort is often needed before you can wait patiently.
In a business family, parents who simply wait for their child to be old enough to come work in the company, without having taken the time to educate and prepare them, will no doubt be disappointed.
On the other side of that same coin, the young person who expects to have a job simply because they are part of the family, without making the effort to get an education and prepare for their role, is also headed for disappointment.
When it comes time to think about questions of succession in the company, and/or the transfer of the business to the next generation, the work of preparation becomes even more important than simple patience.
If we want a beautiful mature hedge in five years, today is when we have to think about it. It’s not by simply carrying on in the same roles that we will eventually have developed the leadership skills and communication structures that will be needed.
Too often the family focuses its efforts on the “business” side, believing that all the questions on the “family” side will sort themselves out. Or they tell themselves they’ll have time to think about it “later.”
If you’re reading these lines and you recognize members of your family, know that you are far from alone.
But know too that patience probably won’t resolve the situation on its own. You may not see the efforts you can put in right away, but let me give you a few hints.
For me, the most important word in the expression “family business” is not “business,” but rather “family.” When we talk about family, it’s because it’s not just one person, but several.
“Oh sure,” I can already hear you saying, “but in our family, there’s really only one person who makes all the decisions.”
But that person (more often than not, it’s Dad) won’t always be there, and the family has an obligation to prepare for the future. Yes, it takes effort, but without effort, patience won’t be enough.
Several people also means several relationships, and relationships can become stronger and closer with more communication. Talk to each other about the challenges the family will face in 5 or 10 years, under various scenarios.
Start thinking about how you’re going to work together when Dad is no longer there. Don’t forget to talk with Dad too! He may not want to talk about it with you at first, but if he becomes aware of your discussions among yourselves, eventually he could become interested in your thoughts!
Waiting patiently, even with your fingers crossed, doesn’t often produce the results you want. But with a little work, effort, communication, and sharing of ideas and thoughts, the chances that patience will be rewarded are much higher.
