For last 10 years of working with Indian Family Businesses, the unique pattern in these mighty family businesses has been the reluctance to take a whole-hearted step towards defining their formal structure within the informal family nature. Learning in countless interactions, seeing close and personal, the fears beneath the status quo – I can’t help but have a sincere empathy and it had increased my commitment to encourage them to be bold, live full, grow full and love full.
Beyond the emotional dimension of love, it is the only magic ingredient that motivates, heals and propels growth wherever it is. Can an entrepreneur become an entrepreneur if he does not love what he does? Can a typical safety heavens mentality of the middle-class be ever challenged by someone unless he loves whatever he believes in so much that he decides to break the norms and choose a risky path with no safety? If asked, what keeps a family business going on for decades after decades stronger and stronger – What do you think their answer would be?
Do you notice where the above questions are heading?
If the above is true, then why once a business is established and running profitably – the notion of having love in business, love with the business and using more love instead are not encouraged and best kept unannounced. And, worst in some companies, they are the sign of a soft-hearted professional, owner, manager, and workforce talent even. What is the price we pay for not having love leading our directions for business engagements with all stakeholders?
The family businesses that see beyond the first two generations realize this very well. They understand the difference between what is needed for their boundless growth and what is needed for their mediocre growth. They know clearly that if they decide to take advantage of the planet size opportunity, they must focus on and get their bearings on love and growth right.
Mainly for Indian Family Businesses, it is unavoidable to focus on love and growth. Thus, they must begin their quest for their wholesome welfare to build a long-term operating model within the family and their enterprise. This would result in love being preserved and grown in the family. At the same time, the business can take more heights and scale at the global level, hence continuously making them wealthier, healthier, and perpetually enduring.
The above isn’t new knowledge, and it persists in wisdom as an ancient truth.
Yet, why do a mere handful of family businesses find their existence beyond the second or third generation with continuous happiness, growth, harmony and abundance? Why really? What stops them? What worries them? What freezes them? What is the cause of the fatal procrastination of many millions? What really?
The key is what reason stops them don’t count. Times ahead belong to the bold and the honest. Family businesses are to make a destiny-defining decision – To create a lasting solution for keeping love at the centre of all growth and growing boundless at the speed they aspire.