“Don” writes: “Talk business at dinner” (April 25, 2014) is a simple issue, but doing so has been my problem. I am a small businessman in the province who is preparing the kids to handle our enterprise in the near future. I know it is right to talk business over dinner, but I do not know what is the right or the wrong way.
Just as there is no right or wrong way to talk with your family about personal matters, there is also no fixed template on how to discuss business over dinner. What is important is that you do it when you feel your children are ready. As I stated previously, if you want your children to succeed you, then they need to be aware of what is happening (both good and bad) in your enterprise.
You are their parent; you are the one who knows best how they will feel or react to events. I am assuming that you want your business to continue to the next generation; in this case, dwell more on the benefits rather than the problems, at least at first. Share your excitement about running your own enterprise. Afterwards, when they are older (say, in middle or high school), you can gradually discuss more sensitive issues, concentrating on how problems are solved rather than placing blame on others.
Aside from dinner discussions, start by exposing your children to the business while they are young. Greeting customers, helping mother man the register, doing light tasks in the factory help your children develop a sense of ownership and a desire to take care of their legacy.
Consultations
Willy Dy writes: Your articles regarding family businesses are very interesting and relevant to me and my family. We have three children and my wife and I wish that the relationship among the siblings will continue to be harmonious, even after all of them settle down.
Do you accept request for services and consultations regarding family business, including the making of a family constitution?
My answer: I commend you for thinking about the future. When siblings have a harmonious relationship, then there is a better chance that the business will be in good hands. Having said that, in many families, the siblings used to have close ties, but when they get married and start their own families, the pressure from their spouse or even children can strain their relations (see “In Laws or outlaws?” Nov. 22, 2013).
I do handle family business cases, from routine requests such as crafting a family business constitution, to more problematic issues such as improving strained relationships (forced politeness, open quarrels, distant relationships) among family members. The need is so great that I have a waiting list, but you can always email me again with more details about your situation.
Let’s make one thing clear: Many families with less than ideal situations have the mistaken hope that if they have a family constitution, their relationships will automatically improve. Dysfunctional families may have a constitution, but seldom follow their provisions. In these cases, fixing the problems would be a requirement before doing a constitution. But if family members are already close to begin with, then a constitution can professionalize their relationships in the business.
Other groups can also help families with their constitution, such as the Ateneo de Manila Family Business Development Center (April 4, 2014). E-mail the center at fbdc.jgsom@ateneo.edu. I sit on the board.
Website
Napoleon Co writes: Congratulations on your family business articles that are being shared with me by my nephew from Cebu. I will watch out for next Friday’s issue. But are there related issues in the past? So I can secure them from the Philippine Daily Inquirer (PDI)?
My answer: Thank you for your support, and I am touched that your nephew shares them with you. You must have a close bond with each other. This column on family businesses has run in PDI for around a year, and comes out every Friday.
In today’s technological age, I am a bit bemused to discover that many readers still prefer to read the print edition. Like you, they inquire about past columns and ask if PDI sells back issues. I do not think so, but the easiest way to read my past columns is through the PDI website (www.inquirer.net). You can always follow the links (start with clicking the “Business” icon on top of the page), but if navigating the site is confusing, then just use a search engine.
Google my name and “Inquirer Business” and links to columns would appear. I am happy to say the columns appear online on the same date as the print edition (as other readers tell me, they often appear earlier than the newspaper itself). In this way, you won’t miss any column.
Keep your letters coming. Next week: Checklist for family businesses
Queena N. Lee-Chua is on the Board of Directors of Ateneo de Manila University’s Family Business Development Center. Get her book “Successful Family Businesses” at the University Press (email msanagustin@ateneo.edu.) Email the author at blessbook.chua@gmail.com.