Family Business
Consultation Services
The consultation and support process includes a variety of services and tools for family businesses, business owning families and the people involved. You are invited to become acquainted with the primary services and to contact me at any time for a free getting acquainted meeting.
Family Covenant
The uniqueness of the family business stems from the synergy between the strong and united business owned by a family and a well-run business. One of the tools that helps preserve the family united in its desire to cultivate and realize the full potential for the success of the joint businesses - is the formulating of a Family Covenant.A Family Covenant constitutes a kind of lighthouse or a "Declaration of Independence", according to which the family agrees to act in cases of disputes and dilemmas throughout the generations. It is the agreed upon product of joint discussions, and contains an array of agreements between the family members concerning matters, such as the core values, the vision for the future of the business, rules for employing family members and the principles for determining their salaries, planning the continuity of the business, a mechanism for selecting the business leadership, the dividends distribution policy, as well as policy regarding the sale of shares by family members, ethics and so on.
In the process of formulating a Family Covenant, I will lead you in a responsible and respectful manner to ensure a result that will represent the agreed upon vision, values and beliefs of the business-owning family, and will also provide a solid foundation for the business activities - today and for generations to come.
Inheritance and Transfer of Assets
The question of how to divide the assets amongst our loved ones after we pass away, may provoke grave dilemmas of various types. Uncertainties may surface from a complex family situation, an intricate mass of assets, and significant differences of age, health status, and more between the children.
There are cases in which even before you can proceed to the stage of the legal drafting of the will, or financial or actuarial analysis, a process of thinking and internal examination is required concerning the values, sensitivities, emotions and outlooks, which will guide us in the formulation of principles for distribution.
Assistance and guidance from a professional, impartial and appropriately sensitive person may facilitate formulation of those principles and their application.
In a focused consultation process, I will accompany you through to the formulation of the principles of inheritance and division, acceptable to you, with guidance both in the personal examination process, as well as in the identification of concrete solutions for your unique condition.
Institutionalization of Management and Structuring of Processes
While every family business is unique in its own right, adopting systematic corporate-governance processes will provide any business with the freedom to take decisions based on the highest quality and best goals for both the business and the family. Consequently, the business will realize its business potential and continuity will occur uneventfully.In effect, when there is governance in the business and family, there is peace, unity, and effective conflict resolution, which facilitate seeking to achieve common goals and mutual values, free of internal political conflicts,.
While adapting the ideal solutions for the business and for the owners' purposes, I will accompany you through the focused process to institutionalization and structuring of management processes within the family business.
Why is it Worthwhile to Institutionalize the Management?
When the founder is active, he usually wields the authority enabling him to manage the business. At the next stage, when the control expands, it is appropriate to have rules that allow governance that does not emanate from the power and spirit of a single person, but is organized according to the rules that will be adapted to the changing situation. Corporate governance is intended to serve the shareholders and other interested parties, and to achieve the goals they and the management have determined.
The most common way (but most certainly not the only one) is by establishing an active Board of Directors, which includes outside directors, who are experienced and suitably trained. A Board of Directors of this type can advise the CEO, supervise business performance, plans and policies, can assist in the planning of continuity (intergenerational transfer) and improve the quality of strategy.
Improvement of Communication, Conflict Management and Dispute Resolution
You are probably aware of stories about conflicts between shareholders that resulted in extended clashes in the Courts, or in the media and ultimately destroyed the business. Even when there is only a small number of shareholders, emotions can hamper process and become involved in business considerations, in strategic planning and the day-to-day experience.While all of us know how to talk, we do not always excel in effective conduct of communications.
The messages that one party seeks to convey are not always received by the other party as intended, and when matters “rest” on the sensitive points from the past, or from relationships within the family – the “noise” triumphs. Deficient communication could be detrimental to the very existence of the business, to harm the effectiveness and undermine the day-to-day atmosphere. Nevertheless, it definitely is possible to bridge the differences of opinion, to hold a constructive dialogue and even conduct emotionally charged discussions in an effective manner that will lead to the desired results.
Expertise in mediation and conflict resolution allows me to adapt effective and applicable solutions to improve interpersonal communications. These solutions offer an alternative to the prevalent reality of avoiding conflicts or emotionally charged conversations, and will allow you to manage those differences by means of constructive dialogue, which leads to agreements and development.
Transfer of Ownership, Leadership and Management to the Next Generation
It has been proven that successful family businesses have considerable advantages over other businesses. On the other hand, where family businesses tend to fail is in the transition of generations, and harm can even be caused to the family fabric, when dealing with the centers of volatility is neglected.
Transfer of ownership, leadership and management, as well as the transfer of assets to the following generation, all require a lengthy and predetermined process.It is essential to manage the process with due consideration - and not to improvise - in a professional, sensitive and intelligent manner, taking into account both business and family aspects. In order to bring about, in the end, continuity and an orderly and smooth transfer of power from generation to generation, it is worthwhile and proper to begin at an early stage and not to wait until the last minute.
Utilizing a structured process, which takes into consideration the unique characteristics of the business and the family – such as sibling relationships, a team of cousins, and an ever-growing group of owners – we will create structures that will ensure stable leadership, fairness and effective decision-making processes, together with the protection of the family relationships.
Structuring the Decision-Making Processes
An orderly decision-making process, principles of fair-mindedness, an effective mechanism for resolving differences of opinion and freedom from political quarrels - are all fundamental cornerstones for preserving a healthy family and a healthy business.In order to create them, it is necessary to lay the foundations for the values, the goals and the requirements that make up the family business, and to structure focused processes that are tailored to the unique character of the business and the family.
I will lead you by means of the counseling and guidance processes to create structures and processes to ensure effective decision-making and efficient mechanisms for dispute resolution, which are based on the best and the most beneficial goals for your business, as well as for your family.
Improvement of Communication, Conflict Management and Dispute Resolution
***
You are probably aware of stories
about conflicts between
shareholders that resulted in
extended clashes in the Courts...
Read more >>
Family Covenant
***
The uniqueness of the family business stems from the synergy between the strong and united business owned by a family and a well-run business.
Read more >>
Institutionalization of Management and Structuring of Processes
***
While every family business is unique in its own right, adopting systematic corporate-governance processes...
Read more >>
Inheritance and
Transfer of Assets
***
The question of how to divide the assets amongst our loved ones after we pass away, may provoke grave dilemmas of various types. Read more >>
Structuring the Decision-Making Processes
***
An orderly decision-making process, principles of fair-mindedness, an effective mechanism for resolving differences of opinion...
Read more >>
Transfer of Ownership, Leadership and Management to the Next Generation
***
It has been proven that successful family businesses have considerable advantages over other businesses.
Read more >>
Family Business
