Dear Rock,
Major frustration. My father runs our printing business, and while I love him and respect him for all he’s done for us, he doesn’t seem to realize that he’s missing out on some big opportunities. We are not embracing technological advancements, and our revenues are slipping. How do I convince him to either step aside or move us ahead? ~Frustrated in Philly
Hey Frustrated,
I’ve heard this story many times. It’s a tough one, because you want to respect your father’s abilities and the wisdom that’s brought you both to this place. However, business is all about adapting to the marketplace, and as any business owner knows, markets will change.
I do have a couple suggestions to help him consider next steps:
Go with the numbers. If you have some suggestions for a new business directions, make sure they’re backed by financial projections that make sense. Your father may just be very risk-averse and conservative at his age.
Don’t just throw out open-ended concepts like, “We’ve got to improve our website” or “We’ve got to get to social media!” Show him exactly what needs to be done, and why. Be specific and do your homework. Provide him with iron-clad opportunities that he won’t be able to resist.
Ask him for his vision of the company’s future. Your father was the visionary who built a great company. Challenge him to do it again. Pose the question: “What do you see happening to this company during the next 5-10 years?”
Tell him he’s built a great company, but remind him that people have short-term memories. You’d rather not have his legacy be one of a company in decline.
Enlist outside help. Even though you’re closest to the situation and may have a firm grasp on what the company needs to do next, you’re still his son. He will always look out for you, and the thought of you pushing him to leave might be unsettling. So see if he’d be open to enlist some outside consultants to help shape your family’s future – together.
This won’t be easy. Sometimes business and family overlap, and emotions can cloud proper judgement. The key is to focus on the business aspect. Your dad was a great businessman. With your help, he can be one again.
Rock LaManna is the President and CEO of the LaManna Alliance, a business advisory and consulting firm that helps printing owners and CEOs use their company financials to create successful strategies. He blogs regularly about family business solutions for the printing and print-related industry.
