Business owners balance the extraction of maximum value from the business with the need for reinvestment in assets and resources to continue to grow and prosper. They must balance shareholders' personal needs against the needs of their employees and their communities. Running a successful business means weighing risks against opportunity and balancing growth against safety of capital.
All business owners are at the epicenter of a 3-circle matrix. The Family circle represents the family members that are involved in the business or associated with the business owner(s). The Ownership circle represents the individuals who have a direct or indirect ownership stake in the business and the Business circle represents the active management of the business that they own.
Business owners must deal with the competing interests within the matrix. They are faced with a ceiling of complexity that can make them feel that there is limited time and resources available to invest equally in each of these three crucial areas of life. When only the squeaky wheel gets the grease, inevitably, the matrix falls out of balance.
Without balance between the three circles, such as during periods of transition or growth, individuals involved in the matrix can become frustrated, having potentially debilitating effects on the family and business. The leader's once-clear vision becomes clouded, and the path to growth and sustainability becomes less obvious. This frustration can lead to making decisions that conflict with the core values of the business or the main decision maker's normally optimistic view of the future.
The Life Balance Advisory AllianceTM ("the LBAA") helps business owners create and maintain balance between the competing interests of Family life, business Ownership, and Business management.