Why does becoming an Engaged Owner Matter?
Engaged family business owners are better equipped to meet the challenges of multi-generational family business ownership because they understand their Core Capital, have aligned family and business decision-making around a Shared Purpose and Vision, and manage their various “hats” appropriately—parent, child, owner, manager, employee, director, trustee, beneficiary. Through all of this, they are able to create effective governance.
Engagement is critical for families to successfully navigate significant transitions over the long term—ownership and business succession, estate events, business expansion or sale, family transitions.
Having a group of engaged owners is particularly important for multi-generational businesses, especially if there are managing and non-managing owners.
how can you develop engaged ownership?
Engaged Ownership: A Guide for Owners of Family Businesses lays out a straightforward process for developing engagement and improving decision-making in your family’s enterprise. Engaged Ownership can be a useful way to introduce these helpful concepts to the wider family group.
If you’re a member of a family business and want to learn more about Engaged Ownership and how we help families overcome conflict and develop more effective governance, reach out to us through our consulting practice.