Mind the Gap - by Jolene Brown, CSP, CPAE

Mind the Gap - by Jolene Brown, CSP, CPAE

"Hi there I'm Jolene Brown. As I travel the Tube in London or the many subways of the United States, I see these signs and I hear the audible warning. MIND THE GAP. MIND THE GAP. What they are telling me is there are a separation or gap between where I stand right now and where I want to go, and so I better look down, be focused and attentive. Well I got to thinking, especially at this time of year, I bet there are some gaps that you and I need to tend to as well in our family business and today I want to share just three of those with you. I see them frequently as I would with those in family business..." 

Jolene Brown dives deep into three gaps you can mind around the holidays with your family members, to allow this season to move along smoothly.

  • Is there a gap in the financial understanding of your business?
    • You need a bookkeeper and an accountant to make a strong financial team - the accountant keeps her fingers on the finances WITH  YOU. 
  • Are you minding the gap of managing your team?
    • Keep a spreadsheet of who is responsible of something, or who is in charge of something. Staying organized of who is going to do the work and who you need to consult with before the job is tackled. The leaders of the business can make sure they know that people know their job - allows correction and coaching with the same path in mind of the team.
  • Is there a gap in management of the transfer of leadership and ownership of the business?
    • Minding this gap of transfer requires a good advisory team, an accountant and an attorney who work well together. They will make sure the legal and financial work gets done so there is no gap. 

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