“Make your family meeting a success,” by Margaret Steen, Family Business Magazine, July/August 2015
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Who should attend?
This depends on your objective. If the goal is communication or education, you might want all family members at the meeting. If key decisions need to be made, perhaps only the shareholders should attend. Another question involves whether there should be age restrictions.
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How often should meetings be held?
When family gatherings are just starting and you're still trying to establish ground rules and do strategic planning, more frequent meetings may be helpful. If family members are geographically scattered, annual meetings may be most practical.
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Where should meetings be held?
Generally speaking, a neutral location such as a hotel conference room is better than convening a family meeting at someone's home. Larger families may want to hold the meeting in a resort area to attract as many attendees as possible.
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Who pays?
Covering attendees' travel expenses results in increased attendance. But for families who hold their meetings in locations where air travel is needed for most participants, costs could be quite high.
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Do you need an outside facilitator?
Families just beginning to institute family meetings might want to enlist a third-party facilitator to ensure everyone's voice is heard. Of course, a facilitator will likely be helpful if a difficult topic is on the agenda.
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