The following are key aspects of which Magellan can assist a family business:

Family dynamics: Families can flourish or be torn apart without knowing and understanding the skills required to navigate the challenges most families experience.

Succession planning:  Whether “succession” is on your radar or not, it’s critical to have a clear plan in place to ensure the family is all on the same page and prepared for the ultimate changes to the family business.

Family structure and correct legal formation:  There is a difference between being an “owner” of a business and “working in the business”.   It’s important to have the right structure combined with the right legal framework to ensure there is absolute clarity for the family of how the business should be formed and managed.

Creating a culture for non-family members to succeed:  As family businesses grow, it’s critical to ensure that non-family members can see the bright career future within the company.   Magellan can help to build the right culture and guidance to ensure you’re a company of which great employees would want to spend their career with you.

Getting the right people in the right seats:  Ensuring a family business has everyone in the right seats, and we’re leveraging the gifts of the family, it’s important to get “roles” correct.   Through Magellan’s experience and models to clearly understand skills and potential, we can assist with getting everyone in the right seat.

Growth Strategy for Family Businesses:  Almost every large business, had its start as a small family business.   Establishing a strong Family Business Growth Strategy is critical to ensure the entire family and team of employees are on the same page and have a clear plan for new growth and opportunities.

Leadership development:  Leaders inside of a family business must have the soft skills to lead from the top.   Most families reach a “lid” to their growth because of marginal leadership.   Magellan focuses on developing family members and non-family leaders/managers to lead with the following key soft skills:

• Communicate in a way that inspires and energizes.

• Lead in a way that reduces stress.

• Expand their leadership capacity

• Create a culture that fosters new growth and innovation.

• Develop new strategies to grow.

• Become a family leader others want to follow.