Family Businesses(FBs) combine two equally important but diverse human systems. Families are the building blocks of society and business is the driving force of the world economy. The combination of family and business creates unique challenges that if unaddressed can lead to the demise of a perfectly viable business and destructive family discord.
My role is to create bridges between:
- Active(working) and passive (not-working) shareholders by implementing governance and communication mechanisms that ensure transparency and accountability. I work closely with shareholders and their lawyers to create a Shareholders ‘Agreement that includes critical Buy-Sell elements.
- Family and non-family executives by providing guidance on appropriate professional protocols that serve the family and the business.
- The senior and successor generations by facilitating ownership and leadership succession plans.
- Family members and in-laws by organizing and facilitating forums in which relevant information is appropriately shared.
And to draw boundaries between:
- Business matters and family issues by creating a Family Charter that addresses a range of policies that includes Family Member Employment and Compensation, Conflict of Interest and a host of other policies that are deemed applicable by my assessment phase.
- Family expectations and individual aspirations by clearly identifying and defining both and coaching family members to modify as necessary.