These are unprecedented and unpredictable times for family businesses of every shape and size. Whilst many are in survival mode, others may have started to consider the future, rethinking what their operating model looks like.
The tendency for family firms to pull together in times of crisis stands them in good stead – but as the world adjusts to its new normal, opportunities will open up for family businesses to continue to thrive in a post COVID-19 world.
But where to begin? You might be facing working arrangements that are completely new. Maybe your business model has pivoted 180 degrees to provide an essential service – or maybe you’re trying to manage a workforce that is entirely home-based for the first time. Beyond the day-to-day logistics and operational challenges, here’s five questions that might be helpful prompts to consider when examining the longer-term strategy of your family business.