SERVICES FOR FAMILY BUSINESSES
In a family business, the boundary between family and business is very dynamic. GPS: Generation Planning Strategies works to identify the needs and goals of each individual as well as those of the business—and align them to define a common purpose that can serve as a framework for decision-making. GPS supports the family with continued coaching to help keep the business moving toward the goals that have been developed. GPS collaborates with other advisors such as lawyers, accountants, investors and bankers to help implement goals designated by families.
Our Services Include:
NEEDS & GOALS ASSESSMENT
Dr. Kathy Overbeke’s research found that a strong common purpose is a common denominator for successful, enduring family businesses. Moreover, each business’ common purpose is unique. Kathy’s findings are in agreement with abundant research that confirms the importance of family harmony to family business continuity.
In a family-owned firm, there is very little separation between one’s personal and professional life. GPS interviews each member of the family—whether currently working in the business or not—to help identify personal needs and goals and how they may intersect with the business. GPS also interviews key stakeholders in the family firm in order to obtain a 360 evaluation of the firm.
In addition to interviews, GPS uses assessment surveys according to the desire and interests of the family firm.
In subsequent meetings, Dr. Overbeke offers guidance on melding and aligning the individual and group needs to articulate a common purpose for the business. This energizes the enterprise by harnessing the strengths, passions, and skills of the family members and other key stakeholders.
WHAT IS GENERATION INTEGRATION®?
In every family business there is a space where the interests of the business and interests of family members meet and overlap. At times this space is filled with pride, love, and financial well-being. Succession planning and its aftermath however, can challenge the thriving qualities in this space and replace them with distrust and other factors that can dismantle family relationships. Data indicate that effectively managing this space differentiates successful family businesses from unsuccessful family businesses. So, how can family business owners navigate this critical space?
GPS: Generation Planning Strategies is devoted to helping family businesses address such issues. With practical and theoretical knowledge of both business management and family dynamics GPS has developed the Generation Integration approach to help family business owners make evidence based, rational decisions with a deeper understanding of positive dynamics that support these decisions.
Dr. Kathy Overbeke has coached executives of more than 50 organizations of all sizes, including Fortune 500 companies. She helps leaders improve management skills, communication abilities and interpersonal relationships, the foundations for leading others and managing conflict.
She has achieved Hay Group accreditation and is certified in administering and interpreting the Emotional and Social Competency Inventory (ESCI) developed by Dr. Richard Boyatzis. This is one of the most validated measures of “soft skills”—factors that are now widely recognized as being critical to effective leadership. The ESCI helps in identifying people’s strengths and gaps, which enables effective coaching to improve individual and team performance.
Other specific areas of focus include:
CHANGE MANAGEMENT COACHING
Lawsuits challenging inherited assets of a family business can cost tens of thousands of dollars or more.
GPS’ Change Management coaching process works to develop a family business vision that focuses on achieving the company’s objectives—and everyone’s personal goals, including those who are not currently working in the firm. Research shows that family unity is a major success factor in the continuity of family businesses, particularly past the second generation.
GPS coaching uses intentional change theory and training in emotional intelligence to enable all family members to define their goals and to deal with changing roles within the business and their relationship to it and to each other. These tools improve communication and help resolve conflicts.
Dr. Kathy Overbeke has achieved Hay Group accreditation and is certified in administering and interpreting the Emotional and Social Competency Inventory (ESCI) developed by Dr. Richard Boyatzis. This is one of the most validated measures of “soft skills”—factors that are now widely recognized as being critical to effective leadership. The ESCI helps in identifying people’s strengths and gaps, which enables effective coaching to improve individual and team performance.