Meetings about succession require all participants to be fully engaged in the process.  All of them are integral to the discussion and ultimately the should bear some responsibility for the decisions that will be made.  Succession discussions can be sensitive and may require some facilitation so that everyone has a voice and is heard.

Do you want to have meetings that are productive and timely where all participants are engaged in the process.  Then think outside of the box.

The world is so full of tradition.  Typically meetings are set around a boardroom table with all participants facing each other, with smartphones hidden in our lap or openly used on the table, including ipads.  Is this a productive setting?

Here are some tips, (gleaned from other productive leaders) to consider:

  1. hold the succession meetings outside of the family business premises
  2. consider a non-traditional setting where you can face each other, say in a circle of chairs
  3. ensure all invited participants attend and are fully committed to be a part of the meeting (no smart phone rule)
  4. make a plan and ensure that you measure the meetings against this plan to assess your progress
  5. consider using a facilitator to have productive discussions.

With some or all of these tips implemented, your succession meeting should prove to help you advance your family’s succession plan.

Learn, think, apply!