Lara Scott

5.01.2009

HOW TO RUN YOUR FAMILY LIKE A FORTUNE 500 COMPANY!

Here's some awesome info from the John Tesh Radio Show, which you can hear every night at 7p on 95.9 The Fish and www.fish959.com.

Would you like your family life to run as smoothly as a Fortune 500 company? Then treat it like a business! Why? Because if CEOs ran their companies the way we run our families, they’d go out of business. Here are the facts, courtesy of Patrick Lencioni, a columnist for Real Simple magazine.

First, companies define their core values because they provide a great framework for making a lot of decisions. So, identify your family’s core values. Literally the qualities you’d like to pass on to your children. For example, if your spouse loves creativity, make sure your kids get lessons in art, music, or dance, and if you always speak your mind and stand up for your beliefs – praise your kids when they stand up for theirs.

Then, when companies treat everything like it’s important, then nothing is. Too many companies fail because they spread their time and energies too thin. So, pick your family’s top priority by answering this question: “If we accomplish one big thing as a family in the next few months, what should it be?” - whether it’s helping Dad lose weight, or spending more time together as a family. Then figure out how to make it happen - whether you take walks together after dinner, or have family game night every Friday.

Consider the cost before you say yes. In business, when a decision to do one thing prevents a company from accomplishing other things, it’s called “opportunity cost” and that’s true for families, too. For example, if your kids decide to join Cub Scouts, the opportunity cost may be less family time on weekends, and no time for guitar lessons. So, pick and choose the things you really want to do as a family and as individuals.

Meet often for performance reviews. Families – like businesses – need to meet at least once a week to review what’s going on, and to see what adjustments need to be made to their time and priorities. Just 10 minutes a week will not only help your family run like a Fortune 500 company – it’ll also help your children see how their behavior and decisions impact the entire family.