Family Business Coaching
LifeForward Pte Ltd and Camelot Trust Pte Ltd together offer Family Business Services – a unique opportunity to ensure that the family business has a solid foundation, clearly defined principles, clarity of vision and a common purpose to lead into the future.
Family Business Coaching - Being the Best
Working with our partner, Camelot Trust Pte Ltd, LifeForward Singapore offers Family Business Services – a unique opportunity to ensure that the family business has a solid foundation, clearly defined principles, clarity of vision and a common purpose to lead into the future.
We also work with individual family members on a one-to-one basis to help them find direction, motivation and identify goals and purpose.
Our solutions for family businesses draw on all our areas of expertise.
Find out more about Family Business Coaching
Family business have a values system which unites members and provides a common framework for building relationships with the business and the community. The alignment of the personal values of the leadership team to those of the family business lead to authenticity that underpins communications, planning and strategies.
Executive coaching helps individuals identify their core personal values and understand how these align to the broader business and family values system, improving commitment and motivation. Working with Insights Discovery as a profiling tool, executive coaching improves self-awareness and awareness of others, improving communication and interactions and building family cohesion. It also improves resilience – critical when responding to change.
The vision for the future is a clearly defined and communicated vision that guides the family’s actions. Such shared vision is particularly important in the current business environment, when ambiguity and uncertainty are high. It allows a business-owning family to set goals and determine priorities.
Business Coaching helps the leadership team gain clarity on a vision for the future. Working with an experienced coach, leaders are able to define a strategic goals and set priorities for the family business in the short- medium- and long-term.
A family must have clarity on the level of its own involvement and how much information-sharing there is so that each member can carry out their responsibilities and be a positive force for the business. Leadership principles and roles are clearly defined for all executives of a certain level, whether operating within or outside the business.
Leadership Development helps leadership teams understand the core responsibilities of leadership and develop and enhance critical leadership skills such as self-understanding, self-management, influencing and persuading, empathy and resilience.
The family needs to demonstrate cohesion and interaction: mutual understanding, respect and support, and a healthy exchange of ideas and discussion of key and delicate issues. This determines how resilient the family will be and how it will respond to change.
Team Coaching helps leadership teams address areas of conflict, respect each other’s strengths and differences and allocate responsibilities appropriately. Being clear about leadership responsibilities and identifying the right person for the right role, building on their strengths and giving them the support and development they need, creates a leadership team built on trust, mutual respect and with common goals and direction.
Good family governance means ensuring that decisions are made and authority exercised in accordance with established and accepted best practices so as to avoid conflict, commit to professionalism and attract and retain superior talent.
Our partner, Camelot Trust Pte Ltd, is able to provide guidance on the legislative framework for the family business, assist with setting up and managing family and individual assets and ensure that best practice is followed on all governance matters.