Both businesses have a deep history with roots being formed in the 1960s and 1970s respectively. The founders remain at the helm and continue to show leadership to staff and the upcoming family generations.
These meetings were the lead up to Know My Life, becoming members of, and forming a new relationship with Family Business Australia (FBA).
In November, Know My Life sponsored the FBA NSW/ACT Gala Dinner honouring past Hall of Fame winners and inducting three new businesses. The three businesses inducted to the FBA Hall of Fame at the Gala Dinner on 19th November 2015 were:
• Nulon Products Australia.
• Canberra Airport Group.
• Scenic World.
Know My Life produced films, which told their stories and were shown at the Gala Dinner. Their inspirational stories are of success as well as endeavour, hardship and challenge. Their induction into the FBA Hall of Fame is testament to the strength of the family unit in working together.
By their very nature, family businesses are about accepting each other’s strengths and weaknesses and going the extra distance to build a profitable business.
Any business that is not family-based puts process ahead of cause, as it should, and has to. But there’s a survivalist nature when cause is ahead of process. Not just by putting food on the table, but also supporting other family members.
Know My Life itself is a family based business and since becoming a member of Family Business Australia, has been warmly welcomed.
We have become a new member in large network of family businesses. Already there is opportunity for Know My Life to form strong and lasting relationships.
Even prior to joining, my conversations with family business owners typically have been much more broad and refreshingly friendly.
Often there is a culture that has developed from the founders that is more evident in decision-making.
At times there is resistance to change unless a patriarch or matriarch is consulted. This can be a great control mechanism or can be a hindrance to picking up and running with opportunity as it arises.
Regardless, it’s a family operation with processes that follow a certain hierarchy of authority across a range of family matters.
At the national level, the great Australian economy is made up of 70 percent of family businesses in the private sector economy.
They employ around 55 percent of the private sector workforce and have a significant wealth holding of $A4.3 trillion (Source: University of Adelaide).
Across a number of industries such as financial services and professional services, family businesses are a key target segment.
We are a country that is continuing to grow and our family histories are built over time, both here and from many parts of the world.
We can work within local markets but also in international business, with help from families from other parts of the world, now living in Australia. Our connections are formed based on trust and friendship under a family context.
There are many business opportunities out there and the first conversation with family members often is not about business matters. Our conversation starter is talking about our film production work with Know My Life.
We can evoke strong emotions in helping to preserve an individual’s life story, their achievements and challenges. If you have a desire to reach family businesses, have a clear understanding on why you matter.
Know My Life produces premium quality filmed interviews with individuals for now and later. Often inspiring stories of endeavour, hardship and challenge, stories that need to be told and recorded. Visit http://www.knowmylife.com.au.
