A Family Governance Journey
From our first family council meeting, we encouraged our boys to ask the tough questions. How much do you make? How much is the company worth? What will I inherit? These were all questions we thought they would ask. However, the most important question on their mind was…if something happened to dad, who would run the company? No longer were we having adult to child conversations, rather an adult to adult relationship was beginning to develop.
With the new conversation, the dialog about the enterprise as it relates to the business of the family was discussed. What is their role in the enterprise? Owner, Family or working in the Business? Educating them on the responsibility the members have in each circle was paramount.
To facilitate good quality communications amongst the family, we all decided to take the DISC, Devine and Myers Briggs tests. Knowing one might be a Changer while another is an Assurer facilitates understanding in our relationships.
Shortly after our first couple of meetings, we began to discuss developing a family charter. Topics such as Mission, Core Values, Employment Guidelines and Conflict Resolution were some of the possibilities to consider from example charters presented. After some stalled meetings, we realized copying other family charters was not the objective. It is the journey through discussion and debate that is key to crafting a solid agreed upon Charter.
To begin, we crafted our Vision, Mission and Core Value Statements. We contemplated every detail mulling over the words until the pieces fell into place. To define our core values with a statement was a key factor in presenting our beliefs.
But our Family Council Weekends were not ALL meetings. We would also have a celebration dinner, a family activity, in this case a Scavenger Hunt, and a gathering around the campfire for various games designed to get to know each other or family history. The classic, “Do You Know Quiz” or “Three Truths and a Lie” to name a few.
Work sessions are part of the bonding weekend activity. Teaching a hard work ethic along with the importance of putting sweat equity into our family property is important to us. Some of the projects included picking up trash along the road on Christmas morning or demolishing walls in the Main House preparing for the renovations. Learning family traditions are also part of our assortment of activities. Learning to make pierogi, a Polish dish, before grandmother passed away was a time that will always be treasured.
Including our extended family in an annual celebration facilitates a unity amongst cousins and aunts and uncles which perpetuates the family vision. Typically, a “party favor” or some other memorable item serves as a reminder of the unforgettable time together.
Once a year our meeting focuses on our goals and vision for the future which includes what role they will play in the enterprise. The first question we ask, “How old will you be in 10 years?” The exercise then reflects what we want to accomplish looking back over those years. We designed a family flag that can mark those accomplishments.
Sometimes we had difficulty getting together for our quarterly meetings, however, with technology Zoom allowed us to gather even when we were apart.
Typically, after the Family Council weekend, the members have a task(s) to accomplish before the next meeting. If it is a specific book to read, a person to research or a family member to interview, they know their project needs to be completed before the next meeting.
If you would like more information on Family Governance or if you are interested in having someone facilitate the process for your family, please contact us.
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