One concept embraced by successful business families that can work for any family – whether in business or not – is organizing a family meeting.
This is a formal, structured event. Usually a few hours is all you need, but it can provide years of benefits and significantly lower the temperature of conversations around things such as money, inheritance and achieving success.
Many successful business families use this tool. Just think of it as a strategic planning session at the personal level rather than a corporate event. But the premise is the same – looking forward and charting a course for success.
Starting this while children are in their teens and continuing it through the adult years is a winning formula. Teenagers are especially strong participants. They’ve never been invited to a meeting before or given the floor to speak. They take it seriously.
And for parents, it is a forum that forces you to actually organize your thoughts, goals and objectives. And remember this proven tactic: Written goals work, so keep minutes and use them to generate a Golden Plan.