Why Have Meetings?
Extended families with multiple generations living and working together in the same enterprise are unique in the business world. In a family business, differences about business strategy and issues centering on differing roles and on the fair and equitable distribution of family wealth are frequently colored by the emotional dynamics of the family. Consequently, many opportunities exist for disagreement, conflict, crisis, and eventual litigation.
70% of family businesses fail to make the transition from the first generation to the second. Research demonstrates that 60% of those failed transitions are due to unresolved family conflicts. The primary function of family meetings is to identify and find solutions for family differences before those conflicts become entrenched and fatally interfere with business decision-making.
What is the difference between a family business with spirited debate and successful transitions and those that fail to thrive because of entrenched conflict? The successful families have created a forum for regular communication and for the open, candid exploration of differences.
Why Use A Facilitator
An impartial facilitator can interview each key participant and come to understand each individuals unique perspective.