10 ground rules for family meetings: Consider holding family enterprise meetings on farm

INDIANAPOLIS — Holding meetings is a good way to keep family members on the same page, especially on family farms.

Jeanne Bernick, partner at KCoe Isom, suggests holding family enterprise meetings twice a year — and not at the kitchen table.

Find a separate place to hold the meeting, and lay some ground rules first, she advised.

Ground Rules

1. Be willing to listen and be open-minded.

2. Feel free to share without retribution; don’t be combative.

3. Don’t interrupt.

4. Assume the best; good intentions.

5. Respect.

6. Turn off phone for this meeting.

7. Be on time.

8. Value is when everyone participates.

9. We want everyone’s perspective; don’t dominate.

10. Say it here, not later.

The first meeting should focus on communication and building trust. Perhaps everybody can share a memory of the farm.

Subsequent meetings can have different priorities.

“You’re going to talk about business planning, responsibilities, organizational charts and clarify some things,” Bernick said. “But I want to make sure you hit these four corners: financial, relational, attitudinal and future.

“Make sure you’re not only talking about the finances of the business and the farm, that you’re also talking about the business relationships.”

Family Enterprise Meeting Tips:

• Keep a focus on business planning.

• Create a vision for the business and the family.

• Have specific goals and strategies for the business.

• Discuss each person’s potential role over the next few years.

• Express expectations about changes that may occur.

• Regularly revisit business performance and the plan.

• As a group, create a list of key responsibilities and organizational chart.

• Determine functional areas for gradual transitions of control.

• Clarify what you expect, particularly around knowledge, skills and results.

• Seek out and encourage experiences — formal education, workshops and training — to learn and interact with peers. Create a forum to discuss the results of your learning.

• Consider using a structured advisory board setting to challenge your business to become more professional and remain accountable to progress.