Family businesses need to have meetings
Question: I am part of a multi-generational family business. We get along fine, but never talk about succession planning. It isn’t that Dad isn’t willing to talk, but when we do it never seems to accomplish anything. What do you suggest?
Answer: You need to have a family meeting. And the chances are, you have never had one.
Sure you’ve had meetings among stakeholders in the business (who also happen to be family members), but have you ever had a meeting of your entire family, including members in and members not in the business?