Don’t Keep It in The Family
The development, growth and overall alignment of a family business can be a fraught affair. Frequently the dynamics are awkward, burdened with historical conflicts and competing objectives. Everyone wants the business to succeed, but who calls the tune?
What personal conflicts are undermining the smooth running of the enterprise? How do you navigate the complexities of different generations, tax structures and financial needs? Invariably, family businesses soldier on with no more strategy than a sincere hope that somehow things will work out. But hope is not a strategy.
WhiteCap worked with a major family firm to realistically explore a licencing deal in the alcoholic beverage section. Although initial work had been undertaken and tentative agreements reached, it became clear that the deal structure would not work economically and competitively. This realistic assessment was easier to take from an impartial third party than a family member with whom there may have been competing agendas. In this case, honesty about the prospects saved time and money.
Within family businesses, problems are often stubbornly embedded within the very structure of that organisation and cannot be solved in-house. Impartial arbitration is not only desirable but necessary. Professional advisors can keep a family business on life-support but they can only manage, not grow the asset. WhiteCap offers a different approach. An opportunity to identify emotional trigger points so as to understand and assess impartiality across the vision, goals, expectations, needs and wants of the family network. We measure existing assets, each stakeholder’s needs and goals and match an asset structure to them. We create a plan with clear milestones and crucially, all stakeholders aligned and accountable.
“The entertainment industry is littered with valuable classic properties and libraries. Unfortunately, many lie dormant, lost and tangled in a complex web of rights, archives and family interests. Steven brought new energy and focus to this library, rejuvenating unique and valuable assets, bring them to market and negotiating the best value and reach for these multi-award-winning titles”