Family Advisory

Despite having a wonderful product or service, many family businesses have outgrown the way they have always done things, and complex and important issues are still decided “on the run”, or with minimal evaluation or consultation.

Our role, unlike other intermediaries in your business, is to look holistically at what’s important to you; and help you achieve those desired outcomes. We will help you navigate the grey; uncomplicate the process and show you how to successfully transition your business to the next stage, or onto the next generation.

SproutAg is able to assist you to establish a range of governance structures, customised to the nature and needs of your organisation, such as:

FAMILY BUSINESS CHARTER

A Family Business Charter or Constitution is a written articulation of the key values, expectations, responsibilities and “rules of engagement” of families in business together.

Family Business Charters are tailored to the needs, aspirations and circumstances of particular family businesses, and typically cover issues such as:

  • Family and business values
  • Entry criteria for family members
  • Communication protocols
  • Commitment and behavioural expectations
  • Social responsibility
  • Professional development opportunities
  • Conflict resolution process
  • Remuneration and dividend policy

ADVISORY OR FORMAL BOARD

At Sprout we provide the function of an advisory or formal board. This is a forum which enables suitably qualified external/independent people to provide advice and support to the owners/directors and senior managers of a business.

Advisory and formal Boards typically involve regular, structured meetings (with an agenda, minutes, and a nominated Chairperson), and focus on strategic and major operational issues (not routine operational matters). They also tend to take some of the internal emotion and politics that often exists within family businesses, out of the decision-making process.

Advisory Boards generally provide non-binding direction/advice, and therefore tend to be slightly less formal than a formal Board, which operate pursuant to a strict legal framework.

BUSINESS ROUNDTABLE

  • Set Agendas and meeting Schedules.
  • Run over a 12 Month Period with typically quarterly meetings.
  • Sharing best Practice and learning from other Businesses.
  • Working on all aspects of the Business.
  • Working ON the Business.
  • Setting Long Term Goals, Strategy, Business Planning, People and team Cohesion.

CONFLICT RESOLUTION

The unfortunate reality for many family businesses is that working closely with parents, children, siblings or cousins, can lead to strained personal and working relationships, and sometimes open tension or conflict. In our experience, unaddressed tension or conflict will eventually impact on the health of individual family members, the cohesion of the overall family, and the performance of the business.

Therefore, a critical aspect of our work at SproutAg is to identify the source of the communication and relationship challenges within the family and the business, with a view to mediating any overt or underlying conflict and  tension. The focus of this process is to help those involved “put a line through the past” and commit to mutual ground-rules for improved working relationships, and in so doing, enhance the overall resilience of the family and the business.

Whilst we are able to assist in most situations, if the nature or intensity of the conflict or tension is beyond our skill-set, we are able to refer our clients to a range of suitably qualified specialists (ie psychologists and family counsellors).