Clear communication is vital to the success of any business and family firms are not exempt this! Clear, open and honest communication is necessary for the long term success of the business but families need to understand that it does not mean that there is no room for debate.
All too often debate can be seen as negative but it is really a consequence of relationships and can be a good way to bring things to the fore, discuss and agree a way forward.
Meetings on a regular basis can help to ensure consensus and drive the business and family agendas too but it is important that meetings have a real purpose and add value, stimulate debate and move things forward to help build a sustainable family firm.
Meetings are important but only if they have a purpose and help with decision making and not just happen for the sake of another meeting!
This is especially true in the case of family businesses, which account for more than two-thirds of international companies. Ninety per cent of family firms conduct business meetings on a regular basis. If yours is not yet among them, here are four reasons why you should consider making family meetings a top priority in 2017.