Family Businesses & Partnerships
Family relationships and long standing partnerships present unique challenges. The Aurik approach is empathetic but guided by clear measurable business objectives. These are some of the problems are entrepreneurs have faced.
Agreeing on business direction
A father and son were locked in a stalemate around the future of the business. Nearing retirement, Dad did not want to make radical changes to the business he had spent 26 years building. His son however, saw the need for change.
Through Aurik, they were able to implement a plan of action where a structured handover of skills aligned both business goals, roles and responsibilities and took the business to the next level.
No longer fair
Two individuals started a business together which took off and saw sales quickly reach some $3m a year. One partner felt the 50:50 equity split was no longer fair – he did most of the work – but attempts to discuss this with his partner failed. The partnership soured.
Mini monthly board meetings and a clear business growth plan that was developed and implemented with the facilitation of Aurik saw sales reach $5m and restored a previously good relationship.
Two brothers working in the family business were constantly bickering and driving their father crazy. He found he couldn’t extract himself from the business for fear of it imploding.
Working with Aurik, the brothers worked better together. Mediation centred around agreed business goals allowed them to create clear roles and responsibilities for themselves. The company functioned well and the father was able to act as chairman – no longer needing to be involved in the day to day activities.