Page 13 - KZN Business Sense 7.4

FAMILY RUN BUSINESS – HELPING TO CREATE A LEGACY

be in or out? This is a question sell, then you can identify your position where you are able to
that is crucial to consider as successor who you will groom make the decision whether to sell
your answer will determine into your position over a period or groom up a CEO/GM.
how successful your business of time. The first requirement Do you have family members
will continue to be into the is to find your ideal family
future. Your successor and team member who will be the right who are equipped in the key
focus areas i.e., marketing,
will need to know what your fit for this position. They would
intentions are. If you are not sure already have been in your sales, finance, systems, and
then engage with me and let’s business learning the ropes teams? This will ensure that
set up an alignment where we and have developed sound your business will be robust and
will explore your options, what skills, expertise, and experience equipped to run whether you
specialise in family businesses you are present or not? your personal goals are and how in the key focus areas of the are present or not.
and have worked through and your business can assist you in business i.e., marketing, sales, Everything I have mentioned
I overcome the frustrations and ■ Still dependant on you achieving these goals. finance (profitability), systems above is simple, but not easy and,
challenges that family-owned financially to support the and team (sustainability) as you may be thinking ‘easier said
businesses often face. Ultimately, business, but the operation can What are your options should these are vital to the continued than done’. I agree. However,
I have assisted in achieving run without your input you decide to do any of the success of your business. whether you know or don’t know
personal and business goals for ■ Still dominated by your above? what you want, contact me and I
both the owner as well as their presence and control both 3RD OPTION:
team, be it family or not. financially and operationally? 1ST OPTION: Implement/improve robust will show you how. 
Sell your business*
There is nothing more Where are you currently in your systems and develop the team *Pieter Scholtz is a master licensee for
important in a family run business? There are a number of factors to prepare your business for ActionCOACH South Africa
business than to create a that influence the ability to sell growth www.marlenepowell.com
legacy for future generations. You may now be in a position to and the price that buyers will be If your business does not have
This is achieved through the either: willing to pay for your business. or you are not confident with
implementation of simple, ■ Sell your business These are: the above in place then who, if
practical tools, systems and ■ Groom up a family member as ■ Strong, consistent cash flow not you, do you need to bring
methodology that has been CEO or general manager (GM) ■ Assets owned into your business to ensure that
developed specifically for small to take over the reins from you ■ People, process, and systems they will be able to implement or
and medium sized businesses improve the systems and grow SCAN
who want their businesses to be ■ Take your business to the next ■ Scalability of the business the team?
profitable, work and run without level (Growth Phase) by ■ Culture of the organisation QR CODE
them. Does this sound like what wanting to implement or Again, consider who in your TO SEE
you need in your business? improve your systems and 2ND OPTION: family would be the right fit VIDEO
bring on/groom your team to Groom a CEO/GM to take over for each of the key focus areas
So, a few questions; as a business scale your business the reins from you of your business to prepare
owner is your business: But what do you, as the business If your business has the above your business for growth and (Open the camera on your phone and
hover steadily for 2-3 seconds over the
■ Able to sustain itself whether owner want? Do you want to in place and you don’t want to ultimately to put it into a saleable QR Code to see the video.)

NETWORKS MAKE PEOPLE’S NET WORTH GROW

ohn Aritho, general manager a variety of challenges along the next step which is listening
of the Beverly Hills Hotel, is a the way. John commented that to the consumer and the
Jstrong believer in networking. moving from country to country shareholders of the business. If
“Networks make people’s net where you have to adopt different you don’t listen to what the staff,
worth grow. And I always say cultures and different styles of shareholders and the leaders are
wherever I am, whatever position working as well as dealing with asking for, then, I do not think
I am in, whoever I meet, it is for a other external factors has been that you can be successful.”
purpose, and I make sure that there difficult at times. John’s future goals are to
is a connection that helps their John says that another continue his career path in
business and my business grow.”
challenge in the hotel industry hotel management and to grow
John was born in Kenya where has been getting the right staff with the company. “But simpler
he grew up in a little town in with the right positive attitude than that is to make sure that
the foothills of Mount Kenya towards guests, which has been the people who work under me
where coffee was grown. After a challenge in some countries grow into my shoes and bigger
completing hotel studies at more than others. shoes if possible.”
university, John travelled to In reflecting on his career path, The importance of people
India and on to Sri Lanka and John believes that he has been in his life is evident in that he
Singapore where he worked finds his inspiration to succeed John Aritho, general manager of the Beverly Hills Hotel
in various organisations. “I successful through learning in them. “I am inspired by a
from the people that have been
really learnt the trade and more there before him. “I have learnt a lot of people – I am inspired by John is devoted to his family simple it is: “Work hard but learn
importantly learn about Indian lot from my leaders and various innovators, I am inspired by and strives to create a work/life to unplug.”
cuisine, which I absolutely love.” pioneers, people like Richard balance. In order to disconnect
directors and managers that I
In commenting on his career have worked under. I am one of Branson – not because of the and relax he says he spends time
choice John explained, “I chose those people who tries to learn millions that he has made on his hobbies and doing things
my career out of a love for food. from other people as much as but because of the kind of that make him happy.
I also had various options as a possible and I learn from my outward thinking out of the “I love nature and I love
really good basketball player, so own mistakes.” box. I think that one of the key the outdoors, so I do a lot of
things required to succeed is
I had to choose between playing The key leadership skill that he continuously learning. I read as motorbike riding. I love old SCAN
basketball professionally or getting much as I can. I try and learn things, so I restore old fashioned QR CODE
into cuisine. At that time, in the has learnt is the importance of and grow myself through the cars in my free time. I try to TO SEE
listening. “I think that listening
eighties, there were only really to what my staffs’ needs are various courses that I enrol be as mechanical as possible
cooks and not chefs, but it was and especially understanding myself in. Education doesn’t to understand how things are VIDEO
something I really loved doing.” built – that is one of the ways I
what is really troubling them stop and I would advise both (Open the camera on your phone and
His career has not always been and what makes them happy young and older people to disconnect.” hover steadily for 2-3 seconds over the
smooth, and he has had to face is important. Then I move to continue learning.” The motto he lives by is very QR Code to see the video.)

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