The world has witnessed and experienced legendary business activities that have continued to flourish when the originators of such businesses are long gone. These set of humans in their graves still speak and control the activities on living men.
It is worthy of note that these men built their empires from the scratch to enviable glory. They never stopped there, they equally set out principles that guards and guides such businesses.
Here are some of the principles they utilized-
- They teach their children and descendants how to pilot the affairs of the business. All businesses that has gone from generation to generation, has it that the owners are in charge. It is not out of place to see the originators offspring’s at the head of the governing board. Many are also key in the business daily running. It could be wives, children, grandchildren and close relations. Not only were they taught how to lead, effort was made by the originator to certify them as worthy heirs before their appointment to take over the business. Normally, these heirs must have built and grown similar businesses under the supervision of the founder. When the founder dies, his coming successors still use same strategy on and on.
- They never forced their offspring who were never interested in the business to join the business by force against their wish. Those not interested are equally well taken care of by others who do.
- They normally run the business via limited liability companies. In most cases, these companies are listed on the floor of the exchange of their parent nation and in many other nations also. By so doing, the business is open to cross fertilization of ideas and management while the real owners of the business comfortably holds the majority of controlling shares.
- They never preferred anyone to take over from them. Control of the management could be entrusted in the hands of either male, female, direct offspring or whoever that understands and would run with his set out vision.
- They consult independent professionals in all their deals. They include accountants, legal advisers, strategic planners, and managers to oversee their activities. Also, they make extra effort to train their own children in major areas of their daily activities where professionals are indispensible. The synergy of both internal and external professional keeps their vision aglow.
- They have a well written will that caters for every issue without fear or favour. Everyone member of his family is catered for accordingly. Most of the intricate issues are taken care of by irrevocable trusts.
- Lastly they use partnerships to extend their businesses to nations and lands where they may not reach personally.
Years after their death, their businesses are still growing and flourishing as he had kept it. These people are among the many multi-national companies with years of excellence at their disposal. Donating to charity is an inextricable part of these businesses.
Businesses like Nestle, Coca-Cola, Ford Foundation, and Rockefellers are still in firm grip and control of humans and their various areas of interest while in their graves.
You too can.
Just put these principles in place and you have put your wealth in automatic drive forever.
Igwenazor Kingsley Chinaemerem.
Head Coach and CEO http://Phortizo.com
At phortizo we stand by you from Cradle to Glory in your entrepreneurial dreams.
Its all about you, We fine tune your business strategies to stand out as you want it.
