The Process
The primary aim is to bind each and every one into the planning fabric of the family. To hear each one’s goals, aspirations, wishes, objective and expectation.
- Understanding the business & business objectives
- Understanding the business owners / managers & who does what?
- Understanding the business strategy, future strategy & concerns
- Introduction to the family on what we do and what we aim to achieve
- Detailed interaction with family members; to understand each one’s personal objective & expectations
- Bringing it all together; while maintaining anonymity
- Putting together a family core team / representative board / governance committee from family members either democratically or by nomination
- Creation of a family constitution
- Working with the core team on inputs received by everyone
- Formulating action agenda & planning for each year
- Reviewing and re-planning as needed