Family Governance
Family Governance
Family Governance is a topic that most families are reluctant to address. It covers two broad topics: governance of the business and of the family. Most family businesses, especially in the formative years, take on the characteristics of the founder or founding family. Although this entrepreneurial model works for an early stage family owned business, as the company grows in size it needs gradual evolution to a different, more professional model. Boards of Advisors and professional management are two ways to improve performance of the business and family systems.
Most families find there is a need to formally discuss family issues like estate plans, family business leadership transition, and family fairness. Among the best venues to do this are Family Councils, Family Retreats, and formal Family Meetings.
DISCOVER
DESIGN
IMPLEMENT
BOARD OF ADVISORS
PROFESSIONAL MANAGEMENT
FAMILY COUNCIL
FAMILY MEETINGS
FAMILY RETREATS
Recent Posts
Is Stress Always Bad?
This week’s vlog is another counterintuitive one and, thankfully, the last in a very short series. If we’re brutally honest with ourselves, we must admit that construction is a very stressful industry. There is unrelenting pressure to get jobs done on time and on...
Is Pessimism Good for You?
Let’s start with a caveat: Pessimism should probably NOT be your default setting if you want to be successful in the construction business. Cockeyed optimists like Wayne might dismiss or rebel at the idea that pessimism can be a positive. Isn’t it a drag on creativity...
Leadership Versus Management: What’s the Difference?
Is leadership synonymous with management? If not, what’s the difference? And in what ways do they overlap? Does your construction company need both to prosper? Of course it does! But to be truly successful, senior leaders need to make sure they’re delivering plenty...