Family Business Advice - Ruddock Associates

Working with family has its advantages, but also comes with its fair share of challenges too.

Along with the usual business concerns, family businesses have a few extra to contend with – like keeping personal matters away from the boardroom and work matters away from home.

And if you don’t have a shared vision for the business or if the next generation wants to take it in a different direction, it can be tough.

Fortunately, I can help. I have a proven track record working with family-managed businesses in Yorkshire, helping them plan for the future, no matter what that future might look like.

Goal setting

Goals are the most important aspect of any business – if you don’t know what you’re aiming for, how can you achieve it?

Goals set the context for the business; they remind everyone what success looks like and why it matters.

But the goals you have for your business might not necessarily match up with those of other family members you work with or those you want to bring into your business.

And if this happens, you end up pulling in different directions, which can cause tension, and in some cases, resentment.

If you have multiple shareholders, or you hope to pass your business down to the next generation, then I can help you work out a shared vision, as well as a plan for moving towards it.

Goal setting

Goals are the most important aspect of any business – if you don’t know what you’re aiming for, how can you achieve it?

Goals set the context for the business; they remind everyone what success looks like and why it matters.

But the goals you have for your business might not necessarily match up with those of other family members you work with or those you want to bring into your business.

And if this happens, you end up pulling in different directions, which can cause tension, and in some cases, resentment.

If you have multiple shareholders, or you hope to pass your business down to the next generation, then I can help you work out a shared vision, as well as a plan for moving towards it.

Growth advice for your family business

If you’ve built a successful and profitable family business, you might be unsure of how to take it to the next stage without losing too much of the family element. But business growth doesn’t mean you have to compromise the family values you founded the business on.

I can work with you to plan a growth strategy that works at your pace, retains the core values of your business and aligns with your personal goals.

Succession planning for your family business

Only 35% of businesses survive the transition from first to second-generation control, while only 11% survive to third-generation control.

Imagine the emotional pain and strain on relationships when a family business is lost.

That’s why succession planning is vital. You need to prepare the next generation to take control by giving them the tools, knowledge and confidence to succeed.

But it’s not always easy. Some business owners can be reluctant to step back, and their successors might not feel ready to step up.

That’s where I come in.

I have a proven track record of working with family businesses, helping them transition successfully from one generation to the next. Sometimes this involves working with both parties to create a clear plan. Sometimes it means acting as an interim director and mentor until the successor has found their feet and the current owner feels confident enough to step away.

If you’re concerned about the future of your family business, get in touch. I provide honest, impartial business advice and support and can help you plan for succession.

Get in touch

If you’re a family-owned business looking for help and support in growing your business or preparing it for future generations,
then I’d love to hear from you.

Whether you’re a first-generation owner that’s ready to hand over the reins, second-generation looking to grow or diversify,
or third-generation struggling to maintain the momentum, I can offer independent, objective support and advice. Just get in touch

How I help

Every business is unique, which is why I don’t offer set packages. I work at your pace and with your needs in mind.

Business Mentoring

Providing advice, support and guidance based on thirty years of management experience across a range of sectors.

About me

I’ve been helping business owners in Yorkshire since 2013, giving them the tools and confidence to grow and succeed.