What if we tell you that your family business’s unity, love, and prosperity can be guaranteed for perpetuity?
What if we tell you that your family business’s unity, love, and prosperity can be guaranteed for perpetuity?
Family Constitution: A perpetual source of unity, love, and prosperity
In our share of experience, Indian family businesses across the globe who have designed, implemented, and are living a family constitution are happier, united, have a stronger identity, and accelerate their growth exponentially.
Family Constitution: Your family, your definitions and your constitution
Family Constitution is a unique-to-your-family decision-making framework that is timeless, objective, and principle-centric. It is not about what is written on paper but rather what every family member lives in their heads, hearts, and souls daily. It is what binds and bonds a family for generations.
The constitution is designed as a unique fit to the roots of the family’s emotional, mental, moral, ethical, and spiritual beliefs.
No two families can ever have the same constitution.
The ultimate purpose of the constitution is to protect the power of love, to unleash its purity, richness, and beauty in creating prosperity, meaning, wealth, abundance, and happiness for the family and the business.
Family Constitution: Stronger family, Unstoppable business
A family constitution enables:
Family Harmony
A united, cohesive, and harmonious family
Family Identity
A shining, unique, and unimitable family identity
Family Trust
Family trust, character, and communication to become powerful, unified, consistent, and resolving
Successful business
Confidence for winning bigger and mightier bets in business
Generational leadership
The next-generation leadership of the family business becomes result-centric and grows the family identity, purpose, and vision
Business Identity
The family business to be recognised as a beacon of hope and a symbol of trust
Pride
The family, business, and all related people hold unchallenged pride to be associated with a family governed by a constitution
Happiness & Love
Family members begin to see, understand, hear and value each other like never before, creating an advantage that no other business format can ever provide
Constructive Conflicts
Families develop the essential skills and mindset to deal with conflicts in a way that progresses them – in actions, decisions, and mainly emotions
Growth
Growth becomes unconditional, certain, assured, and guaranteed under any market duress or turmoil
Social Capital
Family businesses create amass of social capital via structured philanthropy and relevant means for capital development
Strategic Business Decisions
Family business stakeholders develop a unique advantage for harnessing the power of family and business for strategic decision making
Family Harmony
A united, cohesive, and harmonious family
Family Identity
A shining, unique, and unimitable family identity
Family Trust
Family trust, character, and communication to become powerful, unified, consistent, and resolving
Successful business
Confidence for winning bigger and mightier bets in business
Generational leadership
The next-generation leadership of the family business becomes result-centric and grows the family identity, purpose, and vision
Business Identity
The family business to be recognised as a beacon of hope and a symbol of trust
Pride
The family, business, and all related people hold unchallenged pride to be associated with a family governed by a constitution
Happiness & Love
Family members begin to see, understand, hear and value each other like never before, creating an advantage that no other business format can ever provide
Constructive Conflicts
Families develop the essential skills and mindset to deal with conflicts in a way that progresses them – in actions, decisions, and mainly emotions
Growth
Growth becomes unconditional, certain, assured, and guaranteed under any market duress or turmoil
Social Capital
Family businesses create amass of social capital via structured philanthropy and relevant means for capital development
Strategic Business Decisions
Family business stakeholders develop a unique advantage for harnessing the power of family and business for strategic decision making
Family Constitution: Not a piece of paper. A way of living
A family business is a bond of blood, not of paper.
The journey of making a family constitution requires weaving the heads, hearts and souls of all members into oneness. The constitution is not about what is written; it is about what is
- Lived
- Lived daily
- Lived daily by all family members
- Lived daily by all family members for perpetuity.
Making a Family Constitution: Involvement, accepting and living
For almost 25 years of serving HNIs & UHNIs family businesses across the globe, it has proven that for the constitution to be successful, it requires the family key stakeholders to be involved in making the constitution. Our experience suggests that no advisors or consultants should and can make the constitution of any family business on behalf of the family itself. Family business practice experts like us can only facilitate the process of making, accepting and living the constitution with the family key stakeholders.
With the above understanding, below are the steps of making the Family Constitution that we at SOCH Business Mentors help our clients with:
Making a Family Constitution
Step 1
Identifying the orientation
Every family is unique. Their uniqueness is rooted in their orientation for emotions, morals, ethics, history, traditions, principles, beliefs, values, aspirations, expectations and similar. Experts and patented tools lead this step to ensure that the process of making the constitution is tailored to fit the family’s roots helping all to own the constitution while making itself.
Step 2
Preparing the heads, hearts and souls
Nothing can be accomplished if one is not prepared. It is vital to have an aligned movement of the heads, hearts and souls. For this, every individual, on their own, at their will and by their heart, without any influence, should find themselves invested logically, emotionally and spiritually. Skipping this step would increase the possibility of a mediocre result.
Step 3
Making the family constitution
With SOCH, making the constitution involves tried, tested and evolved process of 99+ chapters. This process of making the constitution is jointly created through private and confidential workshops. With every workshop, the family grows in their cohesion, alignment, agreement, acceptance and willingness to live the constitution.
Step 4
Transitioning the family constitution
We understand that not all family members can be involved in making the constitution. This step allows us to help other members (those not involved) tune into the constitution and its promise with the same happiness, clarity and willingness to live it daily.
Step 5
Supporting the living of the family constitution
Making and Transitioning is the beginning of living. We, at SOCH, commit to supporting the family businesses in their attempts and efforts to hand-hold each other in the process of living the constitution. The key is for us to help the family until the constitution becomes a part of their daily habits.
Summary
Family businesses face unique challenges as they progress on their multi-generational journey. To win these challenges and realise their aspirations, family businesses should reflect on taking a proactive approach towards making their family constitution, family governance, succession planning and family office. These four are the key pillars enabling the individuals, the family, their wealth, their legacy and the business to prosper and flourish for generations.