Tag Archives: family council

What’s in a name? Use the right words to describe the family meeting

The caller told me that in her family, they have a family meeting every six months.  I asked who is invited to the meeting: “All of the family members who own stock” she said.  Spouses? “Nope.”  Siblings who don’t work … Continue reading

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Creating Sustainability for Your Family Council?

The work associated with being a member of your Family Council is significant. You are representing the larger family, and committing to work with the leadership group as they develop and implement specific initiatives.  Family Council work is often meaningful … Continue reading

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A Tale of Two Sisters

It was the best of times, and then it was the worst of times for the second-generation family owners of a flourishing gardening business. Sisters Amy and Bethany, members of the third generation, were bright, talented women who were active … Continue reading

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Should we encourage family employment?

In a recent study of large successful family businesses, I noticed an interesting trend.  Families businesses that have spent generations discouraging family members from entering the business are now developing programs to pull them back into the fold.  They have … Continue reading

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Should Family Council Members be Paid?

  One family pays its Family Council President a salary comparable to that of the company President and CEO. The underlying theory is that both roles are equally important to the successful continuity of the family enterprise. Another family has … Continue reading

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Tensions in Family Governance

  A large family business in the Midwest with an active – and highly effective – Family Council has been struggling recently with two nagging questions:  Should the bulk of Family Council work be done by one designated leader, or … Continue reading

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Governance : Why is it so hard to define?

  This week I’ll be speaking to a group of family business owners in the Milwaukee area, and the topic they chose was “Governance”.  When they requested that topic, first I felt excitement – but it was soon followed by … Continue reading

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