1. What stage of the family business Lifecyle is your family business in?
My 'Sibling Partnership' family business lifecycle is at its developing stage right now. The company is ready to invest into a new market, but is still waiting for the right time & opportunity.
2. In what way does this stage reflect a ‘problematique’ and challenging stage? How does this stage of your family business’ lifecycle contribute, affect or erode the business and ownership dimensions of your business?
I would say that this stage would reflect the 'most' challenging state, as the company is willing to invest its big time earning into something I would say not uncertain but new, which includes obviously a lot of risk, and less experience in that field, ample competition and what not. Actually this would act as a decision making test for the partners of the company, as my father himself will decide after this investment that whether to work together for the near future, or walk out, considering his future generations for the same business, but different ownerships.
3. What transition do you envisage for your family business’s lifecyle stage in the coming 10 years?
I foresee my family business's lifecycle stage to be at a rather better developed stage. I guess that would be a much stable stage than right now, because we're yet to take risks in different markets, and by that time we would've taken enough risks to know which market do we actually need to stand by and invest in for our own growth prospects.
4. How do you anticipate your family business and its owners and agents (including yourselves), reacting to these changes?
The family business would be much diversified and hence, the goodwill it has now in a certain market will be now in several others. The owners I'm sure will be satisfied considering the amount of efforts they've done to start up this firm, and now it's reached a new level of diversifications. I would actually be at a more of a sorted stage, because this will be my time to start what I've always wanted, to get into a line away from family business that would be mine only (Construction line)