Meetings

Family meetings, when run properly, can help ensure business success and its continued survival into the next generation. The meetings do not need to be formal, but they should be structured and should be held on a regular basis. Because a family business affects all family members—not just those who are an active part of the business—some analysts contend that everyone in the family should be invited to the meetings. If everyone takes the meeting seriously and is willing to participate, the meeting can lead to greater cohesion, communication, and long-range planning.

Business experts say that the agenda for such a meeting can combine business and pleasure. Serious topics—creating a mission statement, strategy planning, setting a clear path of succession, professional growth and development, market analysis, and estate planning are some examples—typically need to be addressed during these meetings, but the agenda should also reflect a recognition of the family environment in which it is taking place. Meetings that include a meal (dinner, picnic, etc.) as a centerpiece are among the most popular options.

As with any other meeting, the family meeting should have a facilitator. An outside facilitator can be brought in if family members are concerned that objectivity might otherwise be hard to achieve, but be forewarned that hiring a facilitator can be expensive. It is possible to use a family member as a facilitator as long as that person is able to remain unbiased in the face of emotional discussions. Steering clear of long-time family conflicts is also a must if the facilitator is to succeed at his or her job, although admittedly this can sometimes be difficult. "Facilitating one's own family meeting can seem daunting because of the potential emotional intensity of family discussions," wrote John Ward and Sharon Krone in Nation's Business. "To be effective, a family member acting as a facilitator must overcome emotional barriers, dispel longtime family stereotypes, and curtail long-standing conflicts among family members. All are tough to do."

Ward and Krone provided several other tips for holding successful family meetings, including the following:

• Consider using co-facilitators as a safeguard to prevent one family member from wielding undue influence over the meeting's direction and tone.
• The facilitator must keep others involved. Assign jobs—keeping notes, creating charts or overheads, keying and distributing minutes, or chairing committees—and avoid the impression that one person is dominating the meeting.
• Provide formal training for the facilitator. While the person selected may have strong interpersonal and leadership skills, formal training in communications, conflict resolution, active listening, decision making, and group management can prove invaluable.
• Each person attending the meeting should reflect on his or her own strengths and weaknesses and personality style.
• Recognize when professional help is needed. Intense conflicts and domination by one person or a small group of people are examples of when it might be time to bring in a professional facilitator.
• Avoid surprises. Distribute agendas and notes in advance if possible.
• Set ground rules for the meeting.
• Have fun. Even if the business at hand is very serious, set aside some time for relaxation or fun.
• Use a well-lit meeting room with comfortable furniture. Make sure refreshments are provided and provide ample breaks.
• Do not rush things, and do not overload the agenda with too many heavy topics if at all possible.

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