Our Family Business Plan development is in full swing. Extensive meetings with "management" and going over the questionnaires really helped put everything on the table! DFI is pretty healthy in most areas-the hubs realized he needs to help out a wee bit more around here when he can. Fortunately my husband and I worked together in the real world, and we worked great together. We are attune to each others skills and business acumen. With this I am blessed!
The hubs and I listed EVERY goal/wish/dream for our family that came to mind. Dreams are tomorrow's memories. With this long, and at some parts, humorous list the negotiating begins.
Our main goal is to be debt free. The objectives for this goal lists all our debt, including the mortgage, dates for each to be paid off, and a general idea of how. Last year we implemented the Snowball Method for Debt Repayment, which has proved a good fit for us. And a daily kick in the gut seeing the balances we still have. The list is taped to the inside of our medicine cabinet. Good Morning-ouch!
After our broad goals (remodel house, learn Italian fluently, live in Italy, have a storefront for my boutique bakery items, publish a few books)were detailed we focused on the "departments". This is the part of a business structuring I enjoy. Our departments are Finance, Home, Recreation, Education, Human Resources, Succession. Each of these are further broken down as need be. For instance, under Home we have listed Maintenance. Capital Maintenance: remodeling, major fixes, etc. and Upkeep Maintenance: Annual, quarterly, monthly, weekly, daily tasks. We have dates on the Annual and quarterly tasks otherwise we'll push them off! The key to breaking down into departments is to make sure every aspect of your family life stays in the direction of your goals.
By the end of this week we will have the nitty-gritty details for each department written down. Then on to the next part of the plan!
Did the questionnaires open your eyes to details you never thought of? Have you gotten everyone on board?
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