'Cada desafío, cada adversidad, contiene dentro de sí las semillas de la oportunidad y el crecimiento'. Roy Bennett
In my professional experience as a family business consultant, one of the most complex moments is to motivate the leadership of an organization that is going through difficulties. In these cases, it is essential to look at examples that show that the challenges are also part of the way to business success.
An emblematic case is that of Mars Incorporated, founded in 1911 as a small candy. His early years were marked by few profits and a fierce competition in the local market. It was until the 1920s when the company redefined its strategy, which gave rise to its first major product: Milky Way. From there, the Mars family maintained a spirit of work and perseverance that allowed them to launch other successes such as M&M’s and expand to new business lines, such as pet foods with brands such as Pedigree and Whiskas.
Mars Incorporated managed to exceed the so -called “Valley of Death”, that is, the first three years of a company, a period in which approximately 60 % of the new companies disappears. Given this alarming statistic, it is crucial to reflect on what is the best strategy for your company to overcome this great challenge.
Success is not built in a single moment
If we already know the negative statistics on the growth of new companies, why do many not prepare to face the Valley of Death? In large part, this is due to the false confidence that generates a first success. Successful family businesses stand out for reinvesting their profits in the organization itself, ensuring their continuity and family legacy. Being a successful business family does not mean spending without measure, but protecting and projecting that heritage towards the future.
What are you willing to do for your customers?
By launching a new product or service, it is possible to attract curious customers. However, retaining your long -term preference is a greater challenge. Leadership must promote a constant innovation culture, making it clear what distinguishes the company from its competition. Actively listening to customers and adapting to their needs is key to avoid falling into complacency.
A professional company is a successful company
The Valley of Death represents a greater risk for family businesses, since it is the time when they must adapt to new demands. You cannot expect everything to work the same when growth demands more structure. The organizations that prosper are those that invest in the continuous formation of their team and that implement corporate governance bodies appropriate to their needs. Make quick and successful decisions depends on having a solid professional structure.
Every successful company has crossed moments of uncertainty. What makes the difference is not to avoid challenges, but face them with vision, strategy and commitment. The Valley of Death is not the end of the road, but a stage that, if it exceeds intelligence and perseverance, strengthens the foundations of lasting success.
‘The effort and constant work are the answer to this great challenge. Get your leadership to guide your organization to overcome the Valley of Death with an intelligent strategy ‘.
Final reflections
– Leadership is proven in adversity. It is not difficult to direct when everything goes well; The true character of a leader is revealed when he must make difficult decisions in the midst of uncertainty.
– Growth is not linear. Every company crosses ups and downs. The important thing is to have the ability to adapt, learn from mistakes and continue advancing with resilience.
– Long -term vision is an invaluable asset. The decisions made today must be aligned with the future that you want to build. Thinking strategically is as important as executing with discipline.
– Professionalization is not an option, it is a necessity. The family businesses that transcend are those that understand that the love for the business must be accompanied by solid structures, clear processes and a culture of continuous improvement.
– The legacy is not inherited, it is built. Each generation has the responsibility to strengthen the foundations of the company so that the following can continue the path with pride and purpose.
About the author:
Twitter: @mariorizofiscal
The opinions expressed are only the responsibility of their authors and are completely independent of the position and the editorial line of Forbes Mexico.
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