Family Ownership Matters

Family Council Development

Has your company been in the family for generations? Do you hope it will?

Far too few family owners have the time and energy to create a Family Council that will set the family up for success when the inevitable transition occurs. I can help  you make things go more smoothly.

Managing Expectations

Unmet expectations are the biggest source of conflict in family businesses (or any relationship, for that matter). So I work with families to get everyone on the same page at the outset. That way the next generation and the current generation of owners know where everyone stands and disagreements are avoided.

Create A Board Of Directors

Most private companies don’t have a board of directors, but studies reveal most could benefit from having one.

If this seems like a viable option, I can help you develop a Board Prospectus, providing an overview of the company, a Mission and Values Statement, a profile of the board, and the board’s structure and compensation.

From there, I help you develop a search committee to identify potential board members and set a schedule for implementation.

A Family Constitution

A Family Constitution may be the most important document in your transition. That’s why I recommend taking your time to do it thoroughly – roughly, two to two and a half years.

Simply by writing it, a dialogue is created and ideas exchanged. Goals and objectives are aligned. This document can be created with half-day meetings each quarter and shorter ones once the document is developed.

My approach to creating a Family Constitution is straightforward:

• Interview shareholders to find out what’s working and what isn’t.
• Report the findings to the CEO/Chairman of the Board.
• Begin a series of meetings to address any issues uncovered in the interviews.
• After addressing these issues, begin developing the Family Constitution to guide the family’s interaction with the company now and in the future.