Write Before the Fight (Part 6)

Since both of her brothers shared their expectations concerning the family-owned business. Now, it’s Amna’s turn to share her future goals pertaining to “Ahsan Wala printing press”.

Professional Goal

Amna being a student of legal studies, she realizes the importance of formal company structure and its documentation. Therefore, she showed her interest in taking care of the legal affairs of “Ahsan Wala printing press”. She mentioned that as the company grows the legal department will get more tasks to perform. The taxation matters, the labor union matters, getting the printing press registered with the corporate and government entities and other such affairs were mentioned by Amna as examples.

Continuing her explanation, she highlighted the importance of professionalizing the family business. While continuing her education, she selected corporate governance as one of her elective courses, which had valuable knowledge and information about the role and importance of governance in a family business. It was so interesting to her that she started learning more about it, as she could relate it to herself. Furthermore, she mentioned that the idea to initiate the informal meeting of family members is a result of the literature which she has studied from various resources. Amna showed her interest to become a Family Business Advisor herself and facilitate other family-owned businesses.

Personal Goal

Ahmed the elder one amongst the siblings, couldn’t accept this family business consulting at once, but when Amna elaborated further on her vision, he was surprised to hear such progressive development in the area of family-owned entities.

Amna mentioned the organizations like FFI the #familyfirminstitution, Family Enterprise Canada #familyentrepriseexchange, FOX #familyofficeexchange and others providing formal education to train advisors. She emphasized that her vision is to professionalize the business which Mr. Ahsan founded, as its difficult to start a business considering the local business dynamics of #Pakistan after migration. Further, to bring longevity to the ownership of the business, it has to be professionalized and pertinent documentation should be adopted as well as accepted by the respective family business shareholders.

Concluding her talk, she said it’s her vision to develop such a structure for “Ahsan Wala Printing” which brings long-term functionality and sustainability considering the succession plan for their upcoming generations. Once the base case is going to be finalized, then she will offer her services as a consultant to other family-owned businesses in long term.