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Family CommunicationHow We Talk to Each Other
Monday, November 5, 2007
Goals This Afternoon
Understand family and business meetingsLearn how to establish a Family Council Strengthen family communication skills
Starting Point
Who has a regular, structured Board meeting?A Family Council Meeting?What does your family need to talk about?
AMERICA“Shirtsleeves to shirtsleeves in three generations”
MEXICO“Father-MerchantSon-PlayboyGrandson-Peasant”
ITALY“From the stables to the stars and back to the stables in three generations”
CHINA“Peasant shoes to peasant shoes in three generations”
CANADA
Opportunity to learn fromfamilies around the world
What’s the Problem?
The Three Circles
Ownership
BusinessFamily
Conflicting Purpose
FRICTION ANDCONFLICT
FAMILY
Emotion basedMission: to nurture familyEquality rulesPermanent relationships
BUSINESS
Task basedMission: profitabilityCompetency rulesTemporary
Resistant to change
relationships Exploit change
Governance
The processes, principles, structures and relationships that help organisations realise their vision and objectives.
Managing ComplexityThree separate governance structures within one family business system:
1. Family organisation2. Business organisation3. Shareholder organisation
PurposeOwnership
BusinessFamily
Build and continue enterprise
Professionalise family culture,
activities, values
Recognise and resolve shareholder
issues
Starting PointFamily Governance1. Address the issues and assumptions2. Create a family governance structure:
Family ConsitutionMission StatementFamily Council
3. Maintain regular communication:
Retreats4. Spend quality time together5. Monitor progress
Complex Relationships
Five people, 10 relationships
More Complexity
Nine people, 36 relationships
Complexity in the Family System
Successor asks father about retirement
plans
Father sees son as a threat
Father criticises son’s work performance
Son sees Father as out of touch
Son convinced that father
should retire
Son talks to other family
members
Communication Skills
“We do not see things as they are; we see things as we are. We do not hear things as they are, we hear them as we are.”
The Talmud
Start the Discussion
UNSPOKEN
SPOKEN
DISCUSSIBLE
Use Active Listening Skills
AttendingInquiryRestatingAcknowledging
Speak from Your Perspective
Use “I” statementsState what you’ve observedDescribe the impact on youAsk for what you need
Build on Strengths
What works well now?What are common values?What are areas for improvement?
Guidelines for Family Meetings
Define responsibilitiesHow are members appointed/retire?How does the group agree?How does it relate to other entities?Length of officeHow decisions are recordedMust have a chairperson
Agree how to Agree
Types of Family Business
Owner Managed
SiblingPartnership
Golf
Tennis
Football
c. John Ward PhD
Cousin Syndicate
Setting up a Family Council
StructureObjectivesInclusiveness
Create Structure
Schedule regular meetingsFormal AgendaRotating ChairBring in outside expertise
Set Objectives
Become a learning familyPromote family discussionDefine family values, mission, visionBuild trust and understandingDevelop decision-making processKeep family members informed
Be Inclusive
Consider extended familyEncourage participationTrack attendanceEnsure equal playing field
“The best way to predict the future is to create it.”
Peter Drucker
How to Reach UsJennifer EastFounderONIDA Coaching + Consulting Inc.396 Brunswick Avenue, Unit 2Toronto, Ontario, CanadaM5R 2Z4
T: 416 922 8973F: 416 922 9629E: [email protected]: www.onida.ca
