family businesses are different from public companies
We created Engaged Ownership and The Engagement Toolkit to help advisors understand the distinctive features of family enterprises, what that means for them as advisors, and how they can best bring to bear their expertise with each of their family business clients.
Every family enterprise is unique—each has its own goals, culture, operations, opportunities and choices—all of which will be reflective of the family’s history and aspirations. We help advisors learn how to better understand these unique features through Core Capital, Shared Purpose, and Vision, and to then develop governance and strategy through the advisor’s respective expertise.
Understanding these concepts and putting them to use with your clients will strengthen your work together
Core Capital: Human, Enterprise, & Financial
Family enterprises are uniquely versed in leveraging non-financial capital to create and improve opportunities. As an advisor, having a broad understanding of Human and Enterprise capital is a competitive advantage when working with family enterprises.
Enumerating all forms of Core Capital helps clients to see everything they have at stake and all they have to work with.
Understanding Core Capital gives decision-makers a wider view and greater awareness of options and tradeoffs as they move forward.
Core Capital gives reference for developing a Shared Purpose, Vision and Mission.
Deeply understanding your clients Shared Purpose shows you what your clients truly value and how they weigh tradeoffs. Vision and Mission provide clear strategic direction and focus for all stakeholders. These become the foundation for developing governance that fits the family enterprise.
Together, Shared Purpose, Vision and Mission amplify the effectiveness of boards of directors, executive decision-making, strategic planning, risk analysis, policies, and governance in general.
As an advisor, the payoff for thorough Core Capital and Shared Purpose, Vision & Mission work is the ability to develop governance that fits your individual client’s circumstances and that will remain effective over the long term.
Clients who have done this work are better equipped to implement your work as their advisor.
We teach practical governance skills and structures, how they can be initiated, and how the interconnected roles of owners, board, management, and family play out in decision-making.
We believe that your ability to create, and the client’s ability to implement, governance that is successful over the long term is the true measure of effective advising.