Family governance is a term used to describe the structured way that high-net-worth families guide their relationships with the family business. With many companies requiring multiple generations to work together, solid succession planning can strengthen family relationships, family members’ connections to the business, and the business itself.
Unique Challenges of Family-Owned Businesses
Family-owned businesses face unique challenges. Beyond financial intricacies, events like generational transitions or external crises can trigger disruptions inside the family business. Family dynamics can also derail strategic plans. Balancing these events with family values through family governance and preserving the company for the next generation can be quite a juggling act.
Family dynamics can also derail strategic plans.
Balancing these events with family values through family governance and preserving the company for the next generation can be quite a juggling act.
How CCA Advisors Can Help With Your Family Business Succession Plan
Cendrowski Corporate Advisors regularly engages with family businesses to provide family governance and succession planning. We specialize in working with family enterprises—both large and small—to help them create family governance structures for sustainable long-term success. Our trusted advisors help our clients navigate the complexities of family business to minimize disruptions and maximize profits.
A well-developed family business governance structure can serve both the family and the business by providing a framework for managing decision-making, conflict, and communication.
The Brutal Truth: Why Families Only Plan After Someone Dies
“Look, I’m moving overseas next year. I don’t want to run the business anymore.” One phone call from a son. An entire succession plan just got blown up. Here’s the brutal truth about transition planning: it’s never a high priority until someone gets sick or dies. It’s always “a good idea we’re going to get […]
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How AI Can Capture 50+ Years of Family Office Decision Making
Picture this: 5 people in a boardroom discussing a major investment. AI is recording every word. Every reason. Every concern. “We decided not to move forward based on X, Y, and Z.” Fast forward 2 years. New leadership wants to understand why that decision was made. Instead of playing detective or relying on fading memories, […]
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The Shocking Reality of Unprepared Family Offices
5 trustees retiring within 18 months. Four were family members. No succession plan. No transition strategy. Just… stunning. Imagine sitting down with the patriarch over coffee: “Hey Joe, tell me why we got into that manufacturing company. Tell me about your partners on that real estate deal.” All that institutional knowledge, walking out the door […]
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