Cavan - Family Business Succession Planning Workshop

Do you know a Family Business in the Cavan area?

Do them a favour and tell them about our upcoming Succession Planning Workshop on Monday, 13th November.

Please spread the word and share this post. Here’s the info:

Do You Own or are Part of a Family Business? 
Who Will Take Over the Family Business When You are Gone? 

In the next five years, 40pc of Family Businesses will pass their firm onto the Next Generation, however, many will fail because they have no plan in place.

Don’t have a Succession Plan in place?
No problem!

LEO Cavan are running a 1-day Intro to Succession Planning Workshop for Family Businesses (with an individual Mentoring Session afterwards)

When: Monday, 13th November
Where: Cavan Innovation and Technology Centre
Who should attend: Family Business Owners, Next Generation, Shareholders, Non-family Management, Professional Advisers
Workshop Cost: €50 (which includes the individual Mentoring Session)

This course is the first of its kind in Cavan and will be delivered by Karl Hyden and Paddy Ryan of the Family Business Unit, Ireland.

For more information: Go to the LEO Cavan website: Local Enterprise Office Cavan

Places are very limited, book early to avoid disappointment!

How's Your Mindset Working for You?

Thought for the day - How is your Mindset working for you?

Consider this quote by John Maxwell:
"Successful people don't have fewer problems than unsuccessful people; they just have a different Mindset for dealing with them."

Is it time to update your Mindset for dealing with problems?

Mental Toughness Coaching can help.

Use the link below to schedule time for us to chat to find out more. You'll be glad you did.

http://bit.ly/chatwithkarl

Carlow - How Would Your Business Survive Without You?

Do you know a Family Business in the Carlow/Kilkenny area?

Do them a favour and tell them about our upcoming FREE Contingency Planning Workshop on Wednesday, 8th November.

Please spread the word and share this post. Here’s the info:

Do You Own or Are Part of a Family Business? 
How Would Your Family Business Survive Without You? 

Are you ready if your Family Business suddenly lost key leadership, talent, or a market due to an Unexpected Major Event?

Don’t have a Contingency Plan in place just in case?
No problem!

LEO Carlow are running a FREE 1-day Contingency Planning Workshop for Family Businesses.

When: Wednesday, 8th November.
Who should attend: Family Business Owners, Next Generation, Shareholders, Non-family Management, Professional Advisers

This course is the first of its kind in Ireland and will be delivered by Karl Hyden and Paddy Ryan of the Family Business Unit, Ireland.

For more information: Contact LEO Carlow on 059 912 9783 or on their website: www.localenterprise.ie/ carlow

Places are very limited, book early to avoid disappointment.

Did we mention that it’s FREE?

Curious About Contingency Planning? Who Isn't?

Curious about our FREE Contingency Planning workshop for Family Businesses in CARLOW / Kilkenny on Wednesday 8th November?

Here’s a link to our recent radio interview on KCLR explaining all about the course (thanks Eimear!):

FBU Interview – Contingency Planning for Family Business

These questions might help you decide if this course is of use to you and your family business:

Do You Own or Are Part of a Family Business?

How Would Your Family Business Survive Without You?

Are you ready if your Family Business suddenly lost key leadership, talent, or a market due to an Unexpected Major Event?

Don’t have a Contingency Plan in place just in case?

Who should attend: Family Business Owners, Next Generation, Shareholders, Non-family Management, and Professional Advisers.

Again, for more information: Contact LEO Carlow on 059 912 9783 or via their website: www.localenterprise.ie/carlow

Places are very limited, book early to avoid disappointment!

Is Your Family Business Ready for the Unexpected?

Is your Family Business ready for the unexpected?

Join us at 11am, Tuesday 10th October on KCLR Radio Carlow/Kilkenny as Karl and Paddy are interviewed live by Eimear Ní Bhraonáin.

We will be talking about the need for Family Businesses to plan for the unexpected, including the loss of key people and other contingencies and emergencies.

This is in the lead up to our upcoming course: Contingency Planning for Family Business with Carlow LEO in November.

You can join us live on KCLR Carlow / Kilkenny or online at: http://listen.kclr96fm.com/livestream/

How Mentally Strong People Respond to Sarky Comments

We've all had those painful interactions with people who are aggressive or rude toward us...

And when we are in our 'Introvert Mode' others can misinterpret us as being passive and 'One Down' from them. While we might be quiet on the outside, it's a whole different story on the inside!

And when those who are being more dominant overstep our boundaries, we can be tempted to explode at them, avoid standing up for ourselves or just 'taking it' and imploding emotionally on the inside. This is the famous Fight, Flight or Freeze reaction.

Being more Mentally Tough and Psychologically Flexible can help!

This article has a few good tips for dealing with others when they are not treating you with respect - resulting in actions which are better than exploding, imploding or avoiding - and you will feel a whole lot better and be in more control by making a measured response.

Let me know how it goes!

And if you want to learn more about how to develop your Mental Toughness at work - schedule a chat with me and I can tell you all about it! Here's the link: 

Here's the link to the article from Psychology Today that inspired my post.

7 Myths About Emotions That Will Rob You of Your Mental Strength

"Regulating emotions isn't the same as suppressing them. . . Emotional Regulation is a skill that can help you build mental strength."

This is a great quote from today's article: 7 Myths About Emotions That Rob You of Your Mental Strength.

Sound familiar? Yes, if you've been following my posts for a while, you've probably heard me say something very similar.

In fact, I believe that Emotional Regulation and Impulse Control are two of the most important Mental Toughness Character Competencies for building resilience. That's because they are the foundational skills (yes, skills) upon which all the others are built.

So, by focusing on developing your ability to regulate (manage, adjust, change, shift, intensify, de-intensify, etc.) your emotions, you are better able to respond to a given situation/trigger/stress in a way that is more useful and beneficial to you, rather that reacting in a habitual way that might not serve you or others.

It's a skill. And you can learn it.

And remember, one of the best tools for doing that is to use the Pause Technique that I teach in my Mental Toughness clients!

Let me know what you think of the article.

And if would like to learn more . . . let me know - I'd be happy to help!

 If you would like to find out more about developing your Emotional Regulation and Impulse Control, get in touch.

Here's the link to the original article in Psychology Today that inspired my post.

18 Things Mentally Strong People Do

How Mentally Strong Are You?

Here's a fun graphic of the 18 Things that Mentally Strong People Do. See how many of these things you do already . . .

If you want to improve or grow some areas of your Mental Strength and need a hand . . . you know where I am - I'd love to help you develop your Mental Toughness!

(btw - this pic is not my own work - author unknown. If you know the author, please let me know and I will gladly give them credit)

Dear Family Business Unit, Is There a Better Way?

Click on the image to watch our video about Family Business Ireland.

Family Business Three Circle Nightmare

Do you know about the Family Three Circle Model Nightmare? You may have seen something similar to it before. Various versions of this model have been bandied around the Family Business circuit for a long time.

It has been used to explain any big interactions within the Family Business.  Its “Big Picture Stuff” which captures the relationship between:

• The Family
• The Ownership
• The Business

Family Business 3 Circle Model

Of course, the big picture is important – the throw away here is that the Circles interact and cause pressure on each other …. and well they do!

The Three Circles though show seven, yes 7, sectors of pressure and interaction between:

1. The Family
2. The Owner
3. The Business (non-family Management & Employees)
4. The Family Owners (Shareholders who do not work in the Business)
5. The Owner Managers who are not Family
6. The Family in the Business with no Ownership responsibilities
7. The Family in Management with Ownership responsibilities

7 Sector Model for Family Business Interactions

Now, isn’t that complex?!

As you can imagine, on the scale of A to Z, this can be an X or a Y as a cause of conflict in the family and the business.  And an M or N on the scale regarding decision making and a H or G regarding the running of the business.

It’s a complex nightmare some family businesses don’t ever wake up from. The some that do wake up, often don’t do it in time, so they don’t survive.

That’s the stark reality. Not recognising the problem and or not doing anything about it in time.

 

Here’s An Example

Take the story of a large family-owned chain store, for example.  The sales proposition is great, high end, city centre location, arty crafty background with major profit margins.

So, what’s the problem?  Well, if the owners talk to the stakeholders BEFORE making major decisions about the future (which effect management, staff and family members) a lot of potential grief can be averted.  But, in this case study, let’s say they didn’t.

The decision not to talk brings enormous profit to Circle 2 (the Owners) for a short time. Then after the first few weeks, disaster approaches as the Company fails to respond to the decisions made. Those that suffer are the extended family of the owner, employees (and their family members) – as well as staff morale, public perceptions, and profits!

Here, Circle 2 does not talk to to Circles 1 or 3 before making decisions (which effected them all). This is because Circle 1 perceives the each of the Circles as separate, bouncing ineffectually off each other.

Family Business 3 Circles Model Nightmare

But as we’ve seen earlier, this is NOT the case in reality. And this perception doesn’t make for harmony, doesn’t make for a future, and doesn’t make for Family or Business sustainability…. It only fuels the nightmare!

The Family Three Circles Model? ……what Model?!

For more information about how we can help your Family Business avoid the Family Three Circles Model Nightmare, Contact Us.