FAMILY BUSINESS By Elisante Ole Gabriel (Tanzania) egabriel@edenconsult.net, www.olegabriel.com +255-784-455-499

REACHING YOUR FAMILY BUSINESS’STATEGY POTENTIAL “It is no longer the leader’s job just to create strategy. It is the leader’s job to ensure the organization stays fresh strategically. The difference is profound.”

Sorting Through Mixed Signals Business owners often wear two hats. Problems can be difficult to diagnose and decision can be tough to call because the business and family perspectives overlap.

Understanding the Family Business Strategy Path Phase 1: The founder builds a company from scratch around an innovative product or service. Phase 2: The founder tries to identify and define the ingredients of his or her successful strategy and installs a structure and policies to support it.

Understanding the Family Business Strategy Path Phase 3: The business works harder and harder just to avoid losing ground. Profit margins erode because the company has already harvested the easiest, most profitable sales. Phase 4: The senior generation leader confronts issues that challenge the company’s ability to satisfy family as well as business needs.

Understanding the Family Business Strategy Path Phase 5: Liberation and renewal – requires that owners recognize the dynamic relationship between strategy and organizational design. – Challenging the reasons for success - explore new formulae and strategies as a regular part of managing.

Getting to the Next Phase Founders taking personal responsibility for all aspects of the company – continuing to rely on their own wit, energy and vision – have tough time moving from one phase to the next path.

Moving Forward Finally Clearly, moving from phase one to phase five is not easy at all.

THEN END Thank you for Listening!!!