Family-owned companies comprise 80% to 90% of all business enterprises in North America and employ 62% of the U.S. workforce, Circle Coaching Group helps these companies address the joys and pitfalls that come with working together.
Family-owned companies comprise 80% to 90% of all business enterprises in North America, contribute 64% of the GDP, and employ 62% of the U.S. workforce, according to the New Mexico Family Business Alliance. Currently, couples run 1 in 5 family owned businesses. Circle Coaching Group helps these entrepreneurial couples (couplepreneurs or co-preneurs) and families address the joys and pitfalls that come with working together, including conflicts around money.
"The two most important aspects of our lives are our relationships and our work. But most couples and families working together are frustrated with each other. It doesn't have to be that way. The stress, pressure and pitfalls of being in business together can affect your personal relationships, causing them to suffer. This in turn affects the bottom line of the business," explains Kelly Chicas, principal of Circle Coaching Group.
Couples in business are a growing trend of 1.2 million entrepreneurs partnering with their spouse or life partners in work. Relationship issues absolutely affect the business and vice versa. One of the most frequent sources of tension in any relationship is money. When couples and families understand each person's perspective around spending, saving and using money, they learn how to get more and keep more of it - to spend on family, the business and the future.
Chicas opened Circle Coaching Group to address the issues that couples and families in business face so they can build the long term, successful businesses they dream about. Startlingly, two-thirds of all family-owned businesses will not survive into the second generation. Only 12% percent will still be viable into the third generation, and only 3% of all family businesses will be operating at the fourth-generation level and beyond.
By helping business owners, especially those who work with partners, spouses or family, create environments of mutual respect instead of conflict, capitalize on different skills, strengths and styles, and structure their businesses to fit their family and lifestyle goals, Circle Coaching Group solves the problems that directly affect the profitability of the business. Circle Coaching Group turns at risk businesses and at risk relationships from frustrating and unsatisfactory to rewarding and profitable.