Calling a family “meeting” is usually a sure way to stress out most family members. Meetings get a bad rap because most are poorly planned and many are used to address the actions of one family member under the “cover” of an important meeting that all family members must attend. Meetings are also viewed as a waste of time as usually the starting times are always late and end times run over. This lack of respect runs in the family including the chairperson as well as the attendees. Many meetings are used to scold, demonstrate authority, continue an argument that began at the last meeting or simply talk about information everyone already knows. Another trait of many family meetings is how well “real issues” can be avoided. No wonder meetings are not at the top of every family member’s “favorite things to do” list. We had one family business member tell us, “Just remember, the word meeting is just another four letter word with the ing!”

In order to survive a family meeting the first issue to identify is what type of meeting is it? We describe types of meetings family members may be involved in as:

1. WORKING OWNERS BUSINESS MEETING
• Reason – Open Communication - To discuss, plan and execute day-to-day operational decisions in the family business.
2. OWNERS SHAREHOLDER’S MEETING
• Reason – Agreement and approval - To explain and seek input on the overall strategy of the company as well as updates that include financial and operational plans.
3. FAMILY COUNCIL MEETING
• Reason – Informational - To keep the extended family in ‘the loop’ on the business direction. Opportunities decisions etc.
4. ONE ON ONE COMMUNICATION MEETING
• Reason – Reduce Conflict and Improve Relationships – Family members establish regular one-on-one meetings to keep communication lines open, to get to know one another as “equal adults” and move away from some of the perceptions from childhood or rumors from other family members. Understanding and relationship improvement lead to better decisions, improved family trust and a more successful business.

Once the type of meeting is identified the second step in surviving family meetings is for each family member to answer the following questions with the chosen family meeting in mind. The answers for each question may differ greatly depending upon the type of meeting chosen.

The questions to answer are as follows:

a. What is the purpose and objective of the meeting?
b. What is the best way to accomplish the purpose of the meeting (This guides the Agenda)?
c. Who should come? Should everyone be invited?
d. What information should be distributed to the participants before the meeting?
e. What is expected from each participant?
f. Where is the best place to hold the meeting?
g. When does it begin and when will it end?
h. Can we change the agenda if there is a real “burning issue” that is creating a problem in the workplace whether it is operational or personal?
i. What do we do if we do not get to everything on the agenda and time runs out?
j. Who will be the chairperson of the meeting?
k. Who will take the minutes?
l. To whom should the minutes be sent to?

Having productive meetings takes some work and planning upfront. When everyone is on the same page, meetings are more productive, family trust is strengthened, decisions are made in a timelier fashion and the business thrives.

Effective family meetings are one of the top five reasons for family business survival. Isn’t that reason enough for your family to do it right?

For more family business tips view our blog at: www.familybusinesschatter.com

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