Great family enterprises evolve a Consumer Mobile Number Database governance structure which often leads to both greater business performance AND greater family unity. 4. Family Involvement: The degree to which family members actively participate in the family enterprise is also indicative of greatness. Participation can be as a business leader, shareholder, board member, employee or even simply a proud owner. Great family businesses Consumer Mobile Number Database demonstrate a high level of family member involvement be it in the business, on the board, or simply as active and committed owners. Owners of great family businesses do not simply hold a share certificate and expect dividends; they are aware of the responsibilities that come with Consumer Mobile Number Database ownership and feel a certain amount of "psychological ownership" of this asset-it is NOT just another investment holding.
Conservative Money Management: Long-lasting family enterprises demonstrate a remarkably low level of debt to operate and grow the business. Once a Consumer Mobile Number Database family business gets past its start-up phase, great family-owned companies are very careful of how leveraged they become. Most plow funds generated from the business Consumer Mobile Number Database back into the business, opting for building the business over excessive distributions. In addition, great family enterprises are patient with their capital, willing to wait and be more Consumer Mobile Number Database deliberate in achieving a return. 6. Effective Paradox Management:
Family enterprises are full of paradoxes or Consumer Mobile Number Database polarities that need to be managed, such as merit-base pay versus family member perks or acceptance of family members versus need to challenge family members. According to Greg Page, President and CEO of giant family firm Cargill: "In this world full of paradoxes, companies Consumer Mobile Number Database that manage paradoxes well out-perform companies that don't." Great Consumer Mobile Number Database enterprising families are able to walk along the precipice and effectively balance the dual forces of "Family First" and "Business First",rsacrificing one for the other.