First, what are the essential differences between family and business? Here is a quote from The Family Business Magazine (Summer 2011 issue):

“… families by definition are the bearers of legacy. Their mandate is to perpetuate and teach familial characteristics – beliefs, morals, assumptions, standards, history, trauma, intimacies, triumphs and failures of past generations. The difficulty lies in the dissonance between these characteristics and what is required for success in the business world.”

The current Wikipedia definition of “business” is as follows:

“A business (also known as enterprise or firm) is an organization engaged in the trade of goods, services, or both to consumers.^[1] Businesses are predominant in capitalist economies, in which most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned. A business owned by multiple individuals may be referred to as a company, although that term also has a more precise meaning.”

These are vastly different basic foundations. What is the mission or purpose in a family as opposed to the mission of a business or organization? In my view, a healthy family provides support to each individual within the context and relationship to the roots and primary environment of that individual.  One of the essential purposes of the family is to create a bond and environment that supports the success of the individual and helps perpetuate a legacy to the future. In the case of a business or organization the primary purpose is to foster the success of the business in meeting the need of its clients or customers. The ultimate goal of the business may be to make profit, or in the case of nonprofits, to maintain and grow the capacity to serve the needs of its clients and the community.

This essential difference leads to what is targeted as a primary difference between family and business and that is the principle of loyalty.  Interestingly enough, this is a principle that has shifted significantly in business in the last thirty years. It has become evident that businesses cannot and do not maintain loyalty to its members (i.e. staff) at the expense of the “bottom line.”

“But saying your business is like a family raises expectations that most companies are unwilling to meet. As former New York Knicks coach and basketball commentator Jeff Van Gundy told the New York Times concerning the rash of NBA coaches already fired this season: “It’s always intriguing to me that everyone preaches we’re all in this together, we’re a family. The difference is we are in this together only when it’s going good.” (Fredric Paul InformationWeek December 17, 2008 05:05 AM).

One of the first things families do when they bring a child into the world is to sacrifice one of their most precious assets i.e. sleep for the benefit of their newborn. That is loyalty. The marriage contract typically asserts, “in sickness and in health… till death do us part.” Families stick together “through thick and thin.” Of course this is not always nor should always be the case. Couples divorce, family members become estranged, and teenagers sometimes get “kicked out of the house.” However, this is typically not because of lowered productivity, substandard performance, or to maintain profit margins. We have recognized that in many cases maintaining loyalty over excellent performance can be extremely damaging to business and the organization. Often times in families, loyalty over performance yields positive results for both the individual and family system.

Then there is the middle ground i.e. family business. Much has been written on this topic as well. Several of my consultant friends specialize in family business consulting.  Herein may lay the key to understanding some of the essential differences. Typically the articles on this subject differentiate private business from family business. Here are some of the differentiating characteristics that have been identified between family business and “private business:”

1. Different Goals: Many times small business owners may have different goals other than their company’s success. There may be certain charities which the owner feels strongly about, but, cost the company more than it can afford. Publicly owned companies are not in position to do this, because of legal reasons, and negative criticism that they will receive.
2. Nepotism: Sometimes the owners of family businesses feel an obligation to hire family members rather than hire someone else who may have better credentials. This causes many problems, and can even cause a company to go out of business. There are sometimes fights within the family.
3. Less Profit Margins: Public companies have an easier time producing mass number of items, and thus they can get larger profit margins. Mostly the profit margins are twice as large in public companies.
4. Less Care about Profits: Many small business owners, specifically family businesses, have a tendency to search for non financial things. They often try to do things that don’t bring profits to the company. They will often try to lower their price to make there customers happy, even though they can’t afford to do so which is not the right business strategy.” (John Elton Article from articlesbase.com)

The article goes on to identify some of the strengths of family-owned businesses:

Strengths of family-owned businesses:

1. Teamwork: In family businesses members don’t doubt other’s intentions because they are related, and thus working for a common purpose. In public companies however they may try to do things that hurt others in order to get ahead and gain promotion.
2. Greater Sacrifice: In family businesses family members are often willing to work longer hours with efforts for less pay, because they know that they are doing it for the family, and that they are making the company stronger for their kids and grand kids.
3. Loyalty: In family businesses it is rare to find turnover, specifically in management, which makes it easy to keep employees for a long period of time, who know what they are doing. In non family businesses employees/managers will often go to a different company for better services and salary and may start off their own company in direct competition to yours. Even if a family member does decide to quit their job, it is very unlikely that they will compete against you.
4. More Concerned Employees: In small family businesses the employees are concerned about their company’s success rather than their own success. In public companies the employees often just expect to work for a 40 hour workweek, and then go home, not thinking about their job until when they go back the next Monday. The commitment difference is seen from this.

It is necessary that small businesses recognize their strengths and weaknesses so that they are able to move in the right direction.  (John Elton Article from articlesbase.com)

In sum, there are many essential differences between a “healthy family” and a “healthy business.” It is important to keep these essential differences in mind lest we create expectations that are not realistic or helpful to the business (or to the family for that matter). It is also important to recognize some of the similarities and characteristics that are constructive in both families and business.

Consider these tips for communicating with aging parents from ones of MINES’ July newsletters: (Source: Parlay International ©2010 from MINES and Associates’ July 12, 2011 Weekly Communication)

• Set aside appropriate times to talk
• Talk about one thing at a time
• Equal time for talking and listening
• Avoid blame
•  Avoid exaggerations
• Focus on problems and solutions

Hmmm, this is an article about family, but seems to identify some of the communication tips we often share with managers and employees in business. Seems it pays to be mindful of both the similarities and differences between family and business – whether private, public, or family-owned.

Patrick Hiester, MA, LPC
Vice President, BizPsych

The post How is Fortifying the Family Like – and Not Like – Fortifying the Business? appeared first on MINES and Associates.

• Potential harassment
• Workaround accommodations
• Money left on the table from dropping the ball
• Potential lawsuits
• Bypassing communication
• Difficulty managing change

On some level, just like individuals and families, organizations are conflict avoidant and can waste innumerable dollars by not addressing these uncomfortable issues from the start.

With our theme of “Worry-Free Finances” for the month, my first thought was, “Finances are never worry-free in companies and organizations.”  So, on a personal level, what can make finances “worry-free?”  It’s precisely taking care of business by being proactive in managing ourselves and our finances so they don’t end up becoming a “worry.”  In doing so, we must address the conflicts or potential conflicts that lead to financial worry and potential ruin. We can’t ignore:

• The harassing bills
• Working within our budget
• Leaving savings and earnings on the table
• Financial protections
• Bypassing communications
• The unexpected

Look familiar?  Perhaps not exactly the same, but ultimately, we help organizations address the pain or conflicts they continually avoid or just cannot solve on their own.  Just like in our personal lives, the more proactive we are in addressing these potential conflicts, the more “worry-free” our financial states remain. When organizations call us in for proactive and preventative projects, the result tends to be much less expensive than it would have been should they have waited to search for solutions until things “blew up.” Even if they wait and call us in just at the last minute, the outcome is still far less costly than if an incident were to occur, such as: law suits, turnover, public scrutiny, bankruptcy, etc.  We have saved organizations huge sums of money by helping them address conflicts prior to these potential occurrences.  The irony is; we don’t always know how much we have actually saved them, because fortunately, these things don’t end up occurring.

Moral of the story: If you want “worry-free finances” in organizations, don’t avoid the looming conflicts.

Patrick Hiester LPC
Vice President of BizPsych
MINES & Associates

The post Preventative Measures Result in Significant Cost Savings appeared first on MINES and Associates.

Dr. David Javitch wrote a wonderful article published at Entrepreneur.com that I would like to share.  As resolutions/goals are a popular topic at years end, his highlights can give a a great foundation for setting goals relative to your employees.

For example, he mentions that cross training employees can help motivate them and allow them to assist collegues in completing new tasks.  Their value and and responsibility will naturally increase while motivating them.

You can find the entire article and the other tips here.

Posted by Ian Holtz, Manager at MINES and Associates.

The post 10 Challenges for your New Year appeared first on MINES and Associates.

The social psychology of a sale is partially about a thorough assessment and application of persuasion and motivation research. If MINES can assist you and your staff  to attain higher levels of performance, please contact us.

The post Psychology of Performance – 19 Sales Performance appeared first on MINES and Associates.

http://www.nytimes.com/2010/10/19/health/nutrition/19best.html?_r=2&th=&emc

Have a day filled with equanimity

Robert A. Mines, Ph.D.

CEO and Psychologist

The post Psychology of Performance – 18 appeared first on MINES and Associates.

Did you realize that many company EAPs (Employee Assistant Programs) have financial services as a benefit? MINES and Associates offers its’ clients financial assistance as a session. So if you have a robust EAP, you could talk to a financial advisor to review your current budgeting strategy. As noted, fall is a great time to take another look at where you have been and where you want to go. Reviewing all aspects of your family finances with particular emphasis on budgeting will help you map out your plan and then keep with it.

In this challenging economy that we are living in today; it is nice to know that there are “free” ways to get some financial advice. Check with your employee benefits department to see if your EAP provides financial advice. If not, mention to your manager that you would like them to consider using MINES & Associates EAP.

Happy fall!

Allan Benson

The post Budgeting for the 2nd Half of the Year appeared first on MINES and Associates.

While I am saddened to move on from MINES and Associates where I have enjoyed working for nearly two and half years, I am excited to introduce you to the newest additions to the Marketing Team.  Ryan Lucas will be taking the job of Marketing Coordinator, and Maia Fiala will be assisting him.  Two very creative, competent and hard-working people!

Namaste!

Allegra Boggess

Marketing and Advertising Coordinator

The post As I leave, I say to you: “Namaste” (the divine in me greets the divine in you) appeared first on MINES and Associates.

Providing our clients with cost-containment mechanisms to counter the effects of the Mental Health Parity and Addiction Equity Act has been, in their words, “a major relief.”

For some groups this isn’t a big deal.  But if it is for you – ASK ME HOW?

Posted By Ian H.

(303) 953-4083
Sales, MINES and Associates

The post How to Save 25-50% from Previous Years Claims appeared first on MINES and Associates.

http://www.dol.gov/federalregister/PdfDisplay.aspx?DocId=23511

For those of you that don’t know MHPAEA is a federal law that provides participants who already have benefits under mental health and substance use disorder (MH/SU) coverage parity with benefits limitations under their medical/surgical coverage.

If you have questions or need help please contact us.

Posed by Ian Holtz, Sales Executive

The post Parity Regulations Finally Released appeared first on MINES and Associates.

For Babies (6 weeks to 1 year)

• Do I provide a comfortable place for our story time? Is my child happy to be in this place?
• Am I showing my child the pictures in the book? Am I changing the tone of my voice as I read to show emotion and excitement?
• Am I paying attention to how my child responds? What does she especially like? Is she tired and ready to stop?

For Toddlers (1 to 3 years)

All of the questions above, plus:

• Does my child enjoy the book we are reading?
• Do I encourage my child to “pretend read,” joining in where he has memorized a word or phrase?
• When I ask questions, am I giving my child enough time to think and answer?
• Do I tie ideas in the book to things that are familiar to my child? Do I notice if he does this on his own?
• Do I let my child know how much I like his ideas and encourage him to tell me more?
• Do I point out letters, such as the first letter of his name?

For Preschoolers (3 and 4 years)

All of the questions above, plus:

• Do I find ways to help my child begin to identify sounds and letters and to make letter-sound matches?

For Kindergartners (5 years):

All of the questions above, plus:

• Do I find ways to help my child begin to identify some printed words?
• Do I let my child retell favorite stories to show that she knows how the story develops and what’s in it?

For Beginning First-Graders (6 years):

All of the questions above, plus:

• Do I give my child the chance to read a story to me using the print, picture clues, his memory—or any combination of these ways that help him make sense of the story?

-Posted by Ian H. (Sales Executive)

The post Helping your child become a reader appeared first on MINES and Associates.