A Family Business Advising Family Businesses Providing Succession Planning And Family Business Solutions

 

 For Business Families in the journey to build their Family’s Legacy

Our Services

Succession and Transition Planning: Successful family businesses clearly define, a timeline, expectations,  who is responsible for what, and who is responsible for sustaining the family business and the famiy legacy with accountability.

 

  •       Professional establishment of an advisory board:Take the guess-work out of creating an advisory board.  Forget the countless hours trying in vain to identify (and then recruit and then figure out how to pay) the right board members.  We will provide the structure and the professionals for a focused, effective advisory board, and we implement the process for you.

 

  • Leadership Development and Management Planning: We support family businesses to help build and maintain a robust entrepreneurial climate with both family and non-family.

 

  • Family Renewal and Education: We take a holistice approach with Family Businesses helping them understand they are more than the sum of their parts, and they exhibit unique behavior as a whole rather than the singular behavior of the Family system, the Business system, and the Ownership system.
  • Communication and Conflict Management: Family dynamics are complex and there is no one size fits all solution. Our facilitation helps build appropriate structures and guidelines that provide platforms to facilitate transparent dialogue and sustainability of the family buisness.
  • Coaching the Rising Generation: Building a Family Legacy requires determining what will be passed to the next generation, it is more than just financial resources.  

 

SKM Associates

SKM Associates Family Business Consultants exists to serve and assist family businesses as they build and preserve their family legacies.  We work with family enterprises and closely held businesses on issues such as succession planning, communication, board and family business structure development, family meetings, professional coaching and development, education, and business strategy

          Have a question related to your family business, ask SKM Associates Family Business Consultants

More On Leading A Family Business

Sound business structures are critical to profitably grow the business in an ever-changing competitive environment. In general, corporate governance is “the system of rules, practices, and processes by which a company is directed and controlled.” For family businesses, governance should help formalize issues such as ownership, leadership structures, control, conflict resolution, and communication. For many families, the process of developing family governance can be as valuable and educational as the final product. What could that look like?

  1. Begin with agreement on how the family will communicate, debate, resolve conflict, and hold each other accountable.
  2. Create a family charter describing how the family will relate to each other and the business.
  3. Create (or update) a shareholder’s agreement that includes, among other things, clearly defined governance structures.
  4. Process additional issues such as management of the business, compensation, training and development of family, and qualifications for leadership roles.
  5. Build meaningful experiential learning opportunities for family and non-family employees.
  6. Establish an Advisory Board to provide nonbiased counsel, advice, contacts, and strategy to help the family business achieve its’ goals.

Good governance and positive relationships require discipline to execute and hold each other accountable. 

It is not too late to get started.

Contact us

20 Questions: Practical Checklists For Business Families

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"From his years of experience both working in family businesses and consulting to family businesses, Steve has a wealth of practical wisdom and insight to share. May the treasure trove of practical suggestions, which he and Aaron share in this book, bless your family and its business."
           Melissa Mitchell-Blitch, MS, MA; 
           Family Business and Executive Coach; 
           Founder of Eredita, LLC
 
 
"The authors use a series of very perceptive questions to tease out the differing views of members of a family business and also clearly explain the purpose of these questions. I would highly recommend this book to the leaders and members of all  family businesses."
          Frederick D . Lipman, author of The Family Business Guide (Palgrave Macmillan 2010)