Holding effective family meetings is crucial. Yet families and businesses are 2 different systems with different goals and objectives. Presentation includes tips on having effective meetings for this type of business.

1. Glenn Muske
Rural and Agribusiness Enterprise Development Specialist
Glenn.Muske@ndsu.edu
February, 2015
Family Meetings:
The “How”, “Why”, and More
PFBA - 10/19/15

2. Think Back
•What was the most effective meeting you
have ever been in?
•What makes you say this?
•What was the most unproductive meeting
you have ever been in?
•What makes you say this?

3. What if meetings went away?
• More time
• More productive
• Fewer antacids needed
• Other?????
• What is there to lose?

4. Definition of “Meeting”
• An act or process of coming together as an assembly for a common
purpose
OR
• A meeting is an event at which the minutes are kept and the hours
are lost - Unknown
• Meetings are indispensable when you don't want to do anything -
John Kenneth Galbraith

5. Everyday 83 million people attend
11.5 million meetings.

6. Types of Meetings
Ad Hoc Issues Status Working Strategic
A short conversation
with a few people in
a hallway or over
coffee
A possibly
controversial
meeting with a
partner, client, or
someone else to
discuss multiple
options
Reporting up to
senior staff or a
different group that
you are
collaborating with
Sitting in a
conference room
with co-workers to
solve problems or
make decisions
Gathering large
groups office for
several days on a
variety of topics or
to map out a long
range plan
Is this a meeting? Inform
Status report
Review
Brainstorm

7. Family Business Meetings

8. Step 1: Ask Yourself -
Do we need to have a meeting?
• Is there another way to get the job done
• Does everyone need to be there
• Don’t leave people out just because they may not have a role in
that meeting
• Respect people’s times, theirs and yours.

9. The “How” of Meetings
• Before
• Agenda – with times??
• No hidden agendas!!
• Send material in advance – Agendas, drafts, reports, etc.
• Avoid surprises – Talk with key stakeholders in advance
• Get the right people in the room
• During
• Have
• Start time and an end time
• Note keeper
• Parking lot
• Action log – who does what by when – review at each meeting
• Just decision and actions recorded and maybe major points – not a transcript
• Timekeeper
• Agree on objectives
• Look for data, not assumptions
• Don’t accept something won’t work. Ask “how do you know?”
• Focus on results - Stop long tangents
• Assign actions
• After
• Follow-up and report back

10. Decision Making
• Types of Decisions
• Consensus
• Vote
• Consult – subset decides
• Command
• Styles of Decision Making
• Autocratic
• Democratic
• Consensus
• Collaborative

11. Participant Responsibilities
• Listen, support and contribute
• 1 conversation at a time
• Come prepared
• Respect each other
• Focus on the task
• Minimize gadgets
/multi-tasking

12. Tips for Effective Meetings
• Start small
• Small numbers
• Short time
• No big decisions
• Use “Just get comfortable” meetings
• Personality styles – Learn what makes each other tick
• Don’t make people give up something important to have a meeting
• Make it a safe place to say what you want
• Not all meetings need to be the same length
• Maybe a catch up meeting should be called “lunch” instead

13. “When” to Have a Meeting
• Depends on the why’s
• Depends on the type – Example - Informational may be every day
• New businesses – often
• Difficult time – often
• May vary on season.
• One annual with all involved
• After major changes
• When you see something happen

14. “Why” Have a Meeting
• Communication
• Education
• Information gathering
• Train younger members
• Decision making

15. Family Business Meetings:
The Family Makes It Unique

16. Family Business
Ownership
FBO
FO EO
FE
The Three Circle Model of Family Business
Courtesy of:
Dr. Holly Shrank, Purdue University

17. The “Who” of Family Business Meetings
• Owners and officers
• Key employees
• What about?
• Spouses
• Ex-spouses
• Children – what age?
• Family members
• Employed but without any ownership interest
• Not employed and without any ownership interest

18. The “Who” of Family Business Meetings:
Role of Outsiders
• Have outsiders or not?
• Role
• Facilitator
• Voting
• Informational
• Non-voting but involved
• Tasks
• Interview family members before hand
• Pinpoint difficulties
• Manage complex discussions

19. Family Dynamics
• Meetings may be more family than business – Not just
business
• Effective family communication important
• Empathy, active listening
• Respect for each other, the ground rules, and the process
• Everyone’s voice must be heard

20. Family Business Meeting Examples

21. Example 2: The Issues

22. What Son/Daughter Want
• Get started
• Start where mom and dad left off
• Take risk
• Enthusiasm, Try new things!
• Expand operation, invest
• Buy machinery
• Buy Land
• Utilize Mom and Dad’s Financial Position
• Have more time off

23. What Mom and Dad Want
• Slow Down, more time off
• Getting Tired
• Minimize Risk
• Protect assets
• Pay off debts
• Get Son/Daughter to work harder
• Take less responsibility – more to S/D
• Don’t want to give up control
• Son/Daughter should start where they did 35 years ago

24. “Where” to Hold the Meeting
• The old homestead has baggage
• Costs and travel time
• Family retreats – Plan special activities
• Shared meals and time together – Some
• Recreation opportunities
• Team building – to a point

25. Effective Meeting Tips
• Don’t start with meetings. Start with conversations, lunch, coffee
breaks, etc.
• Traditions – food, religion, good news, family history, etc.
• Set ground rules
• Time limits
• Outside facilitation
• Split meeting – Discussions and Decisions

26. Effective Meeting Tips
• Use outside 3rd parties for information and expertise
• Don’t have them stay for the entire meeting
• It’s as much about listening as it is about talking
• The more inclusive, the better
• People in a room does not make a meeting
• Develop your reserves – Build a bench. Crucial for family businesses.
• Don’t assume anything

27. Remember!
• What happens in the meeting stays in the meeting
• Open and honest conversation must be allowed
• Issues are constructively challenged

28. Meeting Killers
• Purpose unclear
• No agenda
• Try to accomplish too much
• Starts late
• Too many people
• Leader loses control
• One person dominates
• Go back over old items
• No clear direction reached
• Don’t have time
• Last too long
• Mostly irrelevant
• Too many
• Too much side talk
• Poor preparation
• Lack of listening
• Lack of participation

29. Video

30. Glenn Muske
Rural and Agribusiness Enterprise Development Specialist
Glenn.Muske@ndsu.edu
February, 2015
Family Business Meetings
Questions!!