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Help! My Dad Retired from the Family Business Years Ago but Still Tries to Run It and It’s Causing a Lot of Problems

It can be difficult when a parent retires from their job within the family business but continues to act as if they are still in charge. They may make unnecessary demands or try to micro-manage things that are no longer their responsibility. This can cause tension and conflict among other family members who are trying to run the business smoothly. If you find yourself in this situation, it is important to set boundaries and communicate effectively with your parent. So, let’s discuss some tips for how to do that.

The “Unable to Let Go” Syndrome

Some people, be it a father, mother, or even another family member, who’s worked for long periods of time in a family business regard the company as part of their identity. It’s simply part of who they are and therefore, it’s not easy to walk away. It becomes even more difficult when handing the operation over to children, who don’t have all their years of experience.

One of the most agonizing experiences that any business faces is moving from one generation of top management to the next. The problem is often most acute in family businesses, where the original entrepreneur hangs on as he watches others try to help manage or take over his business, while at the same time, his heirs feel overshadowed and frustrated. Paralleling the stages of family power are stages of company growth or of stagnation, and the smoothness with which one kind of transition is made often has a direct effect on the success of the other. —Harvard Business Review

Unsurprisingly, this can easily lead to a father, mother, aunt, uncle, or even a cousin to hang around. Perhaps to the extent that he or she still continues to “run” the business, without the permission of their successors. He or she may make promises, enter into deals, or offer discounts that undermine the new authority of their successive family member(s). Of course, this can cause resentment, anger, frustration, and might also be the cause of unnecessary fighting and/or financial trouble.

How to Deal with a Parent Who Keeps Interloping in a Family Business After Retiring

Fortunately, if you’re in a situation where one or more of your family members has retired but still continues to interlope in the family business, there are steps you can take. First, you need to have a discussion with your parent about their role in the business now that they are retired. It is important to be respectful yet firm in this conversation. Explain to them that while you value their opinion, they need to respect the fact that you are now running the business. This means that they should not try to make decisions or give orders without consulting with you first. You may also want to set some ground rules about how often they can come into the office or participate in business meetings. It is also important to stay calm and avoid getting into arguments with your parent. If they continue to try and take control, it will only escalate the situation and make it more difficult to resolve. Instead, try to have a rational and calm discussion about the situation. If necessary, you may need to involve other family members or even a mediator to help resolve the situation. Additionally, it may be necessary to speak privately with any customers who aren’t completely clear about who is actually running the company and who makes the decisions. This could help in the future with communication and in other important areas. If you find yourself in this situation, it is important to set boundaries and communicate effectively with your parent. By doing so, you can hopefully avoid conflict and maintain a healthy relationship with your parent. Have you ever dealt with this type of situation? What would you do to resolve it? Please take a moment to share your experiences and thoughts so others can benefit from your input. Interested in learning more about business? Then just visit Waters Business Consulting Group.

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If an Employee Right to Disconnect Law Came to the United States, Would Your Business Be Prepared?

March 15, 2024 No Comments

If an Employee Right to Disconnect Law Came to the United States, Would Your Business Be Prepared? Today’s fast-paced, technology-driven world allows everyone to be constantly connected. While this offers a lot of convenience and greatly bolsters collaboration, it does contribute to disappearing boundaries between work and play. In other words, employers can reach their employees, even when said employees aren’t on the company clock. Enter the concept of an Employee Right to Disconnect Law – a movement that is gaining considerable traction. Right now, it’s mostly in Europe. But what would happen if such a law were to come to the United States? Would your business be prepared for the changes it would bring? Let’s explore the possible implications and how you can ensure that your business is ready. Understanding the Employee Right to Disconnect The Employee Right to Disconnect is a legal concept that aims to protect employees from being obligated to respond to work-related communications outside of their regular working hours. It allows employees to truly disconnect from work and enjoy their personal time without the fear of repercussions. In recent years, several countries have introduced employee right to disconnect laws to address the growing issue of work-life balance in an increasingly connected world. Again, these laws aim to protect employees from being contacted outside of working hours and to ensure that they have the right to disconnect from work-related communication. Currently, France, Portugal, and Australia have an employee right to disconnect law, while Spain, Ireland, Germany, and Italy are considering adopting such a measure. Although there is no federal law in the United States currently in place that guarantees the right to disconnect, some states, such as New York and California, have introduced bills to protect employees from being contacted outside of working hours. So, it’s at least something to be aware of and begin to tentatively plan for. Implications for Businesses If an Employee Right to Disconnect Law were to be implemented in the US, businesses would necessarily need to adapt their policies and practices to comply with the new regulations. This could mean setting clear boundaries for when employees are expected to be available and ensuring that work-related communications are not sent during non-working hours. Is Your Business Prepared? To determine if your business is prepared for an Employee Right to Disconnect Law, ask yourself the following questions: Do we have clear policies in place regarding work-related communications outside of working hours? Are managers and employees trained on the importance of disconnecting from work to maintain a healthy work-life balance? Have we implemented technology solutions that can help limit after-hours work communication? Ensuring Compliance To ensure that your business is ready for an Employee Right to Disconnect Law, consider implementing the following strategies: Establish clear guidelines for work-related communication outside of regular working hours. Provide training to managers and employees on the importance of disconnecting from work. Utilize technology tools that can help automate processes and limit after-hours communication. This means you should be at least tentatively preparing your business for a potential Employee Right to Disconnect Law. By taking proactive steps to establish clear policies and promote a healthy work-life balance, you can ensure that your business is ready for any regulatory changes that may come its way. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

How to Deal with Customers who Monopolize Your Time

November 11, 2021 No Comments

You’ll encounter a number of personalities as a business owner. Most are pleasant but some are downright rude. Others might be quirky, yet fun. Still, others can be flat-out nightmares. Then, there are those clients who demand too much, want to pay too little, and brag about their importance, yet still, have high praise for you. Of course, there are also niche personalities, people who possess less-than-desirable traits, such as individuals who take up way too much of your precious time, completely oblivious to the fact you must also take care of others. Fortunately, there are a few ways to cope with customers who tend to monopolize your time. Time-Wasting Customers Take a Big Toll It’s not just the boring, pointless conversations that are problematic. It’s the fact that you’re having to take time away from true priorities. Obviously, this can be very frustrating and even detrimental to your business. After all, if you can’t attend to matters as needed, it causes you to rush and that leads to mistakes. But, it also has other negative consequences. For instance, draining you mentally and straining your patience thin. Good salespeople understand how to walk a fine line between ignoring a client and spending too much time on him. As a sales professional, you need to learn how to use your time to maximum advantage. If a client or customer is monopolizing your time with no intention of buying anything, the ability to disengage without causing offense is vital. —Houston Chronicle Small Busienss When you experience such feelings, it can easily put you in a bad mood. A foul state of mind could also cause you to unfairly snap at your own team. Or, just ruin a good portion of your day. At the very least, you’ll probably become preoccupied and ruminate on your misfortune, which might lead you to become apathetic for the rest of the afternoon. How to Deal with Customers who Monopolize Your Time The thing is, a good percentage of time-monopolizers aren’t really conscious of their own behavior. (Unless it’s such an annoying trait, other people have made them aware.) Even if he or she knows their tendency, it’s a very difficult behavior to change. Which means it’s largely on you. Here are a few effective strategies for dealing with customers who monopolize your time: Redirect his or her attention. Instead of cutting off the conversation entirely, steer it in another direction. Ask about his or her specific interests in relation to your mutual business and give them a few options to consider. This creates a bit of a diversion and puts the onus on him or her to move the interaction along in a constructive manner rather than meandering from one thing to another. Reschedule and restructure. You can also reschedule a day and time to meet, with certain parameters so it isn’t open-ended. For example, excuse yourself with the caveat you’ll meet again soon. Set a time and also set a structure or an agenda so that he or she knows it’s all about getting things accomplished in a cooperative, timely manner. Get him or her to focus. If you sense he or she is about to go off on a tangent, grab his or her attention with a point or fact that moves the conversation toward a conclusion. This could be about a timeframe, price, quantity, or something else. It should serve as a way to complete the transaction at hand. Regardless of what strategy you choose, or even if you use a combination, always express your appreciation and let them know how valuable they are to your business. Don’t rush and take time to listen to his or her feedback so you don’t accidentally cause an unnecessary rift that could result in unexpected repercussions. What other suggestions would you give entrepreneurs who experience time monopolizers? Please take a moment to share your thoughts; it could be a big help to others when they need it most! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Common Franchise Pros and Cons

August 5, 2018 No Comments

Franchises are a great way to get into business. But, these models aren’t for everyone. There certainly are pros and cons to the systems, regardless of industry. However, it’s an effective way to start a company and it’s a quite popular method. For instance, there are approximately 400,000 franchises in the United States alone, according to the International Franchise Association. These employee nearly 10 million people and range across 75 different industries. But, is it for you? Most Common Franchise Downsides Okay, let’s begin with downsides of owning a franchise. Perhaps the largest can easily be capital expenditure or start-up costs. Some are quite large but others are relatively inexpensive. Along the same lines are the fees. You’ll pay for marketing materials, royalty payments, and more. Speaking of costs, you might be subject to sole vendor sourcing. Meaning you must purchase certain materials and supplies from approved vendors. If buying an existing business doesn’t sound right for you but starting from scratch sounds a bit intimidating, you could be suited for franchise ownership. New franchisees can avoid a lot of the mistakes startup entrepreneurs typically make because the franchisor has already perfected daily operations through trial and error. —Entrepreneur.com You must also comply with the proprietary standards, set by the franchisor. Now, you might have some flexibility with said standards, but it’s usually limited. Additionally, you could also be locked into a contract. Then, there’s the ongoing success of the franchisor. In other words, the “parent company” must continue its track record. And then, there’s always risk involved with any endeavor. Biggest Franchise Advantages Of course, franchises have plenty of upsides. If they didn’t, there’s no way these models would routinely demonstrate such high levels of success. People simply wouldn’t waste any time (or money) and the entire notion would eventually disappear. But, franchises do largely succeed. So, here are the biggest franchise advantages: It’s an already established brand. Here’s what attracts so many entrepreneurs to buying franchises — it’s a known quantity. Consumers are already familiar with the brand and its products and/or services. Which means you don’t have the burden of establishing it from scratch. Marketing and operation support. Another big benefit is that you’re not out on your own. You receive marketing and operational support from the franchisor, which is a huge plus. Proven system of employee training. Along the same line is there’s already a working system in-place for employee training. You don’t need to work your way through trial and error to refine a workable training system. Access to proprietary operating methods. Speaking of an in-place system, you also don’t have to try to peel back the veil to learn how the system works. You’ll get all the information you need to open and run the business with actionable guidelines. What other franchise pros and cons would you add to the list? What are your thoughts about buying a franchise? Please comment and share your ideas! Interested in learning more about business? Then just visit Waters Business Consulting Group.