An INTRODUCTION to Team “I”

Hello, we’re Team “I”- nice to meet you! We’ll be bringing you various INTERESTING articles to discuss IMPORTANT topics in the world of marketing. We’re looking forward to some INTERACTIVE conversation and hope you have an INCREDIBLE time visiting our blog…

Family INCORPORATED

So, you check your schedule and see you have an afternoon meeting, a brainstorm session on branding. Nothing peculiar about that. Just an average day at the office. But this isn’t the office. The meeting location is your kitchen table and the attendees consists of your family members…

The Wall Street Journal recently published an essay on the benefits of running a family like a business. And why shouldn’t you apply workplace solutions to the challenges families face in the home?

The general belief is that many companies fail if the make up is one or two charismatic leaders, but the others in the company don’t understand or practice the company’s core values or make decisions based on the company’s brand. This new practice engages all family members and gives them a seat at the decision table.

Families are using a progressive program called “agile development” that has quickly spread from manufacturers abroad to startups in Silicon Valley. It’s a system of “group dynamics in which workers are organized into small teams, hold daily progress sessions and weekly reviews”.

These group dynamics move away from the “waterfall approach” of management, where orders come from the top down. It is more of a collaborative process, where decisions are made after group conversation where all parties get to weight in. Gone may be the days of the age old parental response, “because I said so!”

Jim Collins, the author of renowned business strategy book “Good to Great, points out that great organizations “preserve the core”. He encourages families to develop a mission statement and using the statement as a foundation for decision making for all members of the family. Children can then work their way through problems and base decisions on how the solution relates back to their family’s unique brand. It creates a “touchstone” for the family and is a great way of highlighting what the family is doing right.

If your family had a brand, what would it be??? Would you be open to drafting a mission statement with your family?

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2 Comments

  1. Very interesting topic and blog Team “I”. I wasn’t expecting that. This is very interesting, having a wife and two children, this makes me think about how things will be when my children are teenagers and how having a family brand or mission statement could help them with having no doubt about their values and personal ethos. I think my mission statement would be something like this: “To always do the right thing, set the standard, know that God is in control, be humble despite how great your gifts and talents are, never be pompous, be the change you want to see”. My family brand would be: “Righteousness”

  2. I like this blog because it is focusing on family side and i beleive when you talke about family then you should conseder relashonship and education also gatharing and behavior

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