Family Business 101 – Family Meetings…It’s a Kind of Magic …..

Family Business 101 – Family Meetings…It’s a Kind of Magic …..

Why it Matters Intimate thoughts on accomplishing an Important mission. We had just returned, from yet another family retreat. And from my expe

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Why it Matters

Intimate thoughts on accomplishing an Important mission.

We had just returned, from yet another family retreat. And from my experience, now, I can see that it all depends on the level of commitment of the members of a family for their vision of a shared future to become a reality. Besides, of course, a good dose of respect for each other [a key ingredient that opens all doors to appropriate communication].

I was still impressed by the magic of many families during their first meeting  – as a working group. At times, as a consultant, you only need to sit and wait: as the family members instinctively  find their way to improve their communication, and their openness ~ to dialog ~ as they never did before. And indeed they do: it’s only that they have never had the opportunity to do it in the confines of an organized meeting.

Occasionally, the work is usually harder, and requires one to dig deep and deploy the broad spectrum of professional skills in our arsenal to cope with the odds. However, I think, in general, family meetings work as long as you know the limitations of the family and your role as someone who can help them to deal with themselves.

That said, the Family meetings are one of the most powerful tools available to the management of a family business. It strengthens both, the family and the business.

Besides, there are fewer better occasions than the family meetings to promote and inculcate family values to the next generation: the family meeting provides an excellent occasion to …..“graft in” a sense of responsibility, …..“instill” respect, …..“infuse” fairness, …“foster” loyalty, ……“inspire” professionalism, …..“teach” faith……

The Family meetings are one of the most powerful tools available to the management of a family business. It strengthens both, the family and the business

When supporting families create their cross generational family strategy, the most important asset is the people within the family. The family meetings and the discussions on family values and charitable giving, can be used to invest in, and educate each family member and prepare them to make valuable contributions to the fabric of the family ~ of course, to society.

Because the family is the nursery of entrepreneurship and good citizenship! Its in the familys’ best interest that its members put structures in place that support the golden moment when values are learnt and internalized.

If conducted appropriately, Family Meetings, can be a terrific source of that magical moment for the family-in-business!

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    Alfred onyango 12 months ago

    It’s great to hear of this family business, truely family issues has made many family businesses to collapse therefore its prudent enough to have skills and knowledge on how to deal with such issues.

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