10 Reasons to Hold Family Meetings

One of the surest paths to build cohesion, clarity, communication and competence in a family business system is to hold regularly scheduled Family Meetings.

Craig Aronoff and John Ward have identified ways the Family Meetings add value...

  1. Build a stronger family
  2. Build a stronger business
  3. Plan for future ownership of the business
  4. Agree on family participation in the business
  5. Improve the family’s financial, business, tax, estate, interpersonal literacy
  6. Discuss succession (leadership, ownership and management) process
  7. Preserve and (re)communicate family’s vision, values, tradition and history
  8. Professionalize the business
  9. Clarify and manage relationship between the family, owners and business 
  10. ID and “clear" conflict