Family Business Advising- Family Governance
Operating a business involves multiple parties, each of which have passionate opinions regarding processes, plans, goals, and priorities. When governance policies are not in place, mismatched expectations can create significant stress amongst the family and business. This is where experienced family business advising because an invaluable tool for creating a succession plan that’s going to be beneficial for everyone, especially you.
Why Is it Important?
- Establishing the forums and processes for optimal family communication regarding business and estate issues provides the foundation for strong business that can be sustained through multiple generations.
- “Families” comes in all forms, shapes and sizes including in-laws, cousins, children, stepchildren, business partners and employees. Governance establishes boundaries and requirements as to how family members are permitted to interact with the business.
Download the Family Governance section of our Succession Matrix® guide.
See how your business compares to best practices in our printable guide complete with worksheets and additional insights.
Symptoms of a Family Governance Problem
- Conflict among family members
- Undefined path for family members to enter or interact with the business
- Mismatched expectations
Use this succession planning guide to help navigate the intricacies of Family Governance, and be sure to use an experienced professional when looking for family business advising. Be better prepared to implement your strategic succession plan and ensure your transition goes smoothly and that your legacy remains intact. Download this guide, along with our other Succession Matrix guide that can be found here on our site.
What are the issues impacting the value of your business?
Contact us to schedule a Phase I diagnostic assessment of your business to find out.