Providing Counsel to the Family Council
I enjoy wordplay more than most, and this week I stumbled across something I probably should have addressed in this space already, but seemingly haven’t.
So by exploring the words “Counsel” and “Council”, which are homonyms, I get to touch on a couple areas that are important to me and to my practice.
My current business card identifies me as a “Family Legacy Advisor”, but I’m never sure what I should actually call myself.
I cover a few bases by adding “sub-titles”, (Facilitator, Coach, Mediator), but even then it never feels 100% “correct”.
I prefer “advisor” to “consultant”, but when I’m crossing the border I always say I’m a consultant, because it sounds more straightforward.
Somehow, “family counsellor” feels like an appropriate title for a role I really enjoy playing, although that could also be easily misconstrued.
Business Family versus Family Business
Regular readers know that I often note the difference between a “family business” and a “business family”, and I have a clear preference for which entity I prefer to serve.
I like to work in the “family” circle, serving the business family first and foremost, because the family side is usually “under-served” by outside professionals.
The business circle has plenty of outside help from lawyers and accountants, not to mention various other professional consultants.
“Business counsellor” would sound kind of funny, but “family counsellor” has an interesting ring to it.
Family Governance = Family Council
Governance can get a bad rap, and too often it scares people because it sounds way more formal than it needs to be in real life.
This week I attended an event for business families held at a local University family business center, where the topic was “family councils”. Actually, since it was in French, it was “Conseil de Famille”.
There were representatives of three local business families on a panel, and the moderator asked them questions about their family councils.
I truly appreciated the family members who spoke in front of a group of strangers about personal subjects, and I applaud the organisers for trying to de-mystify the idea of having a family council as a basic element of family governance.
However, based on some of the questions during the Q & A, I think that plenty of attendees still didn’t “get it”.
Despite the fact that the panelists were very forthcoming, explaining the nuts and bolts of how often they meet, who gets invited, what they talk about, who sets the agenda and who runs the meetings, it felt like many were still mystified by the idea.
I think it’s likely because they couldn’t picture how it might work in their own family, and I wonder if the name “Family Council” is too formal, and scares people as much as the term governance does.
Evolutionary, Not Revolutionary
It shouldn’t be so formal though, especially at the outset. Just have a family meeting, and let it evolve from there.
The only “revolutionary” step is bringing in an outsider to facilitate the meetings. Everything else needs to simply be “evolutionary”.
The most important part is actually starting to set up regular meetings to talk about how the family is affected by the business.
A Seat at the Table
Yes, even those family members who don’t work in the business, or don’t own any of the business, do have questions and concerns about the business, because they are certainly affected by it.
Providing them a seat at the table, so that they can be heard, and so that they can ask questions, is simple and basic.
If you organize such a forum before you need to do so, it will all go so much more easily than if you wait until they demand such meetings.
Counseling the Family Council
Meeting even just once a year is fine to get you started. But please start before you feel like you need to.
Start slowly, start small, and evolve from there. Learn as you go, and look for progress, not for perfection.
Eventually, you’ll find a family counselor to come in and facilitate those meetings, and then you can officially call it a “Family Council”.