How CEOs run their families (better than 99% of people)
Nov 21, 2023
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Learn how CEOs successfully manage their family while running companies, the importance of synchronization and communication within a family, running a family like a business using the MVV framework, tracking progress with scorecards, and planning schedules and goals during quarterly retreats.
Regular synchronization and communication within the family, like in a business, helps maintain connection and minimize overwhelm.
Implementing quarterly retreats in the family routine facilitates reflection, goal-setting, and intentional growth.
Deep dives
Key Points on Running Your Family Like a Business
Running your family like a business can improve your personal relationships and even benefit your professional life. By applying key principles from your business to your family life, you can create a harmonious and supportive environment. The first important step is to synchronize and communicate regularly with your partner, children, siblings, and other close family members and friends. Setting aside time for structured weekly meetings allows you to cover important topics. These meetings should include discussing wins, rating your roles, reviewing and coordinating calendars, measuring progress using a scorecard, and addressing specific discussions or projects. These meetings keep everyone aligned, informed, and accountable.
The Power of Quarterly Retreats
Implementing quarterly retreats in your family's routine can have transformative effects. These retreats involve reviewing the previous quarter, reflecting on experiences, setting goals for the upcoming quarter or year, and planning schedules. Reflecting on the past helps identify areas of improvement, while setting goals allows you to envision and work towards the future you desire. Collaboratively planning schedules helps ensure alignment and avoids conflicts, while considering whether activities align with your values and aspirations. This creates a rhythm of intentional growth and connection within your family.
The MVV Framework for Family Success
To establish a strong foundation for your family, the MVV framework (Mission, Vision, Values) can be utilized. Defining a clear mission statement for your family helps everyone understand and pursue a common purpose. The vision component entails setting personal aspirations within the relationship, focusing on being a dedicated and supportive partner, regardless of external circumstances. Values serve as guiding principles that reinforce positive behaviors and provide opportunities for recognition and correction. By defining core values together, your family can cultivate a shared culture that promotes love, communication, fun, service, resilience, and good health.