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Conducting Effective Family Meetings

In my inbox today, I found a tutorial about conducting effective family meetings. Though I utilize a family meeting as the basis for all my succession planning engagements, Dennis Jaffe and Stacy Allred, the authors of “Talking It Through - A Guide to Conducting Effective Multi-Generational Family Meetings About Business and Wealth”, offer some great advice.

The Bravest Men, The Most Valiant Soldiers

Over the last several years, I’ve had the opportunity to meet some pretty amazing leaders. Though I can’t and won’t pick a favorite, Aubrey Daniels Ph.D. , of Aubrey Daniels International, comes to mind as one of the most astute thinkers I’ve had the privilege to interview. During our brief visit, he shared a bit about his farming heritage and, more importantly, the values he learned working on his grandfather’s farm.  

Ready, Willing, and Prepared

Without a plan for assimilation, even a well-educated, career tested, son or daughter will suffer a lack of respect and tests of authority from an operation’s existing leadership team. In succession, we often work through the ‘parents to partners, children to colleagues’ transition. But we rarely discuss overcoming the challenges of introducing a next-generation family leader into a current leadership team.

The Family Business

Though lifestyle is important, it might not be enough. It's important to use proven business tools to manage the operation...

If Your Succession Matters; Hire a Professional

Planning for succession is a serious business. The endeavor may require the assistance of legal, financial, and accounting professionals. Some cases may call for the oversight of a family business consultant or even a family psychologist. Your goals, the family’s circumstances, and business matters will dictate the type of professionals who should be involved in your planning process.