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ISSUE 1MAR/ APR 2013

FAMILY BUSINESS CLUB PRESENTS FAMFIRM WEBSITE EXCLUSIVELY FOR REGENT’S COLLEGE STUDENT / P.3

WWW.NONAMETELEGRAPH.CO.UK

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STEVENSON BROTHERS ROCKS ONTwin brothers Marc and Tony Stevenson have worked in partner-ship for 30 years, helping to keep the craft of handmade rockinghorses alive with their business Stevenson Brothers. Their working

relationship is effective because the brothers have distinct roles

which utilise their different skill sets, and they trust each other

implicitly. The ensuing family business culture and identity is what

underpins their business success in a waning industry.

“I think we are both in charge but we havedeveloped quite separate roles – I design andsell and Tony makes,” says Marc.

“ When we got started I loved working in the workshop, using my

hands and making something. But I couldn’t do this on a permanent

basis - we needed someone promoting the business, otherwise we

would miss the boat.” So while Marc concentrated on the opera-

tional side of the business, Tony, who had undertaken a five-week

apprenticeship with the uncle who inspired the brother’s unusual

vocation, focussed on the production side. The brothers are also now

based on different sites which helps maintain good relationships!

The Stevensons have made rocking horses for Harrods, Selfridges,

the Sultan of Brunei, her Majesty the Queen and most members of

the Royal family. They also restore over 200 old Dobbins in their

Rocking Horse Hospital each year. They aim to deliver 8000 rocking

horses before the end of 2012.

Marc and Tony maintain success through effective management of

their team of non-family staff –in their business, they are treated as

if they were part of the family. Most of the Stevensons staff have

been with the team for over twenty years, including a pair of broth-

ers whose combined employment comes to over forty-five years. In

1990 they made their secretary of nearly thirty years, Sue Russell,a partner. Their Workshop Manager joined from school and has

served his time as an apprentice at Stevensons, attending

Furniture College on a day release scheme. Marc says “Nearly all of

our team are now married and support families of their own and

enjoy being part of this unique small family business”. They wrote

their goals on the wall of their first workshop on their sister’s farm:

1. to re-introduce the rocking horse as a must have item

2. to be the best rocking horse makers in the world

3. to have other people discover their own creativity by working

with us.

Despite this set back, the business remains very much a family

affair and is still run based on trust and strong relationships with

the whole team. There is no MD - Marc, Tony and Sue Russell own

shares and operate as a partnership. Marc’s wife Deborah and his

son Kyle also come in when needed on the sales side. ‘Kyle has

grown up with the business so identifies very much with the

products and people buy from him as they believe him. The fact this

is a family business is in the name, Stevenson brothers. People

know it is a family business and love that it is a family business’.

Within one year they had outgrown the borrowed shed and movedto their own workshop. They also employed two friends as carvers

who unfortunately left the business and set up in competition. This

READ MORE ON P.2

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12 KEYS

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march

demonstrated the importance of ensuring that there are carefully

worded contracts in place for family and non-family members in a

family business.

Their success seems to be based on this family culture and image

and that the brothers effectively oversee very distinct areas of the

business. ‘The best thing is that I know Tony is doing the other side

of me – I can trust him implicitly to get the job done to the best of

his ability. I notice if either of us takes our hands off for a while –

I can feel it’ says Marc.

And what about the next generation of the Stevenson family? ‘All of

the children are doing their own thing at the moment and we want

this - they need to get lots of experience of the real world. It was our

choice to do this and there was no pressure from our parents – it

was nice to have the space to decide.’ Marc and Tony are also happyto continue in their roles for some years to come: ‘We are thankful

that we have had the success we have so far but I often feel that we

have barely scratched the surface and that there is still so much

more to do to make Stevenson Brothers a global brand’.

Question : I own a family business in Dublin together with four

siblings. We can't agree on whether it needs further investment. We

inherited the business but none of us works in it. We are deadlocked

on almost every issue. What should we do?

Answer : Your letter suggests that you have not empowered any oneof you to make decisions in the event of a stalemate and it would

also appear that you are trying to run the business by consensus.

You don't need me to tell you that that is never going to work. You

have to separate the family element and the business element.

Part of the challenge was how my family could run the business if

for some unfortunate reason I was no longer able to do so.

In order to avoid the predictable uncertainty that arises, we set up

a family council. The objective of this was to bring clarity and trans-

parency to the process. In other words, we anticipated any possible

outcome and planned for it. You will need to get specialist advice on

this topic as it is somewhat of a specialist field. However, the broad

advice is that you must stop the internal debating, recognise that

there is a significant problem within the business and put in struc-

tures and processes that will resolve any issues when stalemates do

occur.

Family members start a major portion of new businesses launched

in the U.S. every year. Brothers come to mind, of course.

Whatever the family ties, however, starting a business with a

spouse, parents, siblings, children or other family members

presents unique challenges over and above the usual problems a

startup faces. That’s why only one in three family businesses

survives to the next generation.

We’ve given this a great deal of personal reflection and come up

with 12 essentials for striking the right balance when starting a

family business.

1. Set some boundaries.2. Establish clear and regular methods of communication3. Divide roles and responsibilities.4. Treat it like a business.5. Recognize the advantages of family ownership.6. Treat family members fairly.7. Put business relationships in writing.8. Don’t provide “sympathy” jobs for family members.9. Draw clear management lines.

10. Seek outside advice.11. Develop a succession plan.12. Require outside experience first.

CONTINUE FROM P.1

FEARGAL QUINN :Family businesses can't be run byconsensus, put someone in charge

TO FAMILY BUSINESS SUCCESSBY THE SLONE BROTHERS

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april

Business is what we do for a living,It is hard work, it requires involving

Following in father's footsteps is just the path,Dad did his thing, now you do the math!

The real world is cruel and judgementalBeing the boss’ child won’t make it smooth and gentle.

Many fingers will be pointed at youWas it hard work or someone you knew?

First things first, it’s no easy task,A lot of greed and plots you’ll have to unmask

Family conflicts are bound to be thereLack of communication will take you nowhere.

Keep daddy’s opinion as a hymn in heartBut make yourself listened and play your own part.

The generation gap is always hard to digestBut to be successful you have to pass the test.

To keep it simple, my dearest, todayIn order to succeed there’s only one way.It’s as a wise man named Ed once said

Only through pain should you move ahead.

It's our time to manage a brighter tomorrowPrepare yourself for disappointment and sorrow

Family business is right from our heartsBecause that’s where dedication for the business departs

NO NAME PRODUCTION NO PAINNO GAINPRESENTS THE FAMILY

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An organization is like a tree full of monkeys... all on

different limbs,... at different levels,... some climbing up.

The monkeys on the top look down and see a tree full ofsmiling faces. The monkeys on the bottom look up and see

nothing but assholes.

Two neighbors were talking about work, when one asked,

"Say, why did the foreman fire you?" Replied the second,

"Well, you know how a foreman is always standing around

and watching others do the work. My foreman got jealous.

People started thinking I was the foreman."

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