Is Your Family Ready

We have seen versions of this more than once.

The business is not owned in the manner the owners thought; mom and dad’s estate plan doesn’t take into account how life has changed since it was last reviewed; the rising leaders in the business aren’t protected like everyone thought; and the life insurance policies, which once seemed like excessive are suddenly inadequate for the way the business has developed.

How does this happen?

  1. The founders are busy growing the business.
  2. Key executives are not brought into governance issues.
  3. The family does not dedicate time to discuss what each individual desires for the future of the business.
  4. All business units grow up under one company, and risk is not spread across several operating companies.
  5. The family entrusts the drafting of all documents, wills, trusts, and estate plans to advisors who are familiar but not qualified.
  6. Documents are not reviewed on a regular basis to include changing needs, new risks, and increased complexities.

What do you do?

OUR SERVICES

  • We guide successful family businesses to clearly define a timeline, expectations,  who is responsible for what, and who is responsible for sustaining the family business and the family legacy with accountability.
  • 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.
  • We support family businesses to help build and maintain a robust entrepreneurial climate with both family and non-family.
  • 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.
  • 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 business.
  • Building a Family Legacy requires developing the rising generation. Our coaching process helps the next generation understand themselves, family dynamics, business knowledge, and foundational leadership.

“Where there is no vision, the people perish.” Proverbs

Our process creates a road to travel that is safe, allows the freedom to openly discuss where the family is going and how they plan to get there. With the commitment to the process there is built in accountability to keep everyone focused and on track.

If a business family could work through the difficult questions and develop clear answers that all could agree to, understand, and continually communicate, they would see the health of their family and business grow exponentially.

  1. Why do we exist?
  2. How do we behave?
  3. What do we do?
  4. How will we succeed?
  5. What is most important right now?
  6. Who must do what?

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.

CONTACT US