You understand this process will not be easy.<\/li>\n<\/ul>\nThe first step is to find a facilitator. \u201cThey create a safer space because their presence alone promotes civility,\u201d says Clarke. \u201cBut more importantly, a good facilitator will teach you team-building and communication skills through various group and individual exercises, tools and coaching.\u201d<\/p>\n
One source of facilitators that farmers may not typically check is the national pool of \u201cFamily Enterprise Advisors\u201d offered through an organization based in Oakville, Ont., called Family Enterprise Exchange.<\/p>\n
Clarke herself has developed a suite of practices for building self-awareness and communication skills that facilitators can use, including meditative (mindfulness) practices. If you get squeamish at the idea, think instead of the benefits.<\/p>\n
Doing these practices puts people in a space of responsiveness instead of reactivity, which is critical for good communication. Individuals need to focus on compassion and calm, Clarke explains. Control of yourself, she says, is key to being able to absorb others\u2019 ideas and to effectively express your own.<\/p>\n
The roundtable concept<\/h3>\n
Learning about these concepts and putting them into practice will begin at the first formal family gathering\/meeting that Clarke calls the roundtable. For that first meeting, choose a neutral place and a neutral theme, include young adult family members, and find ways to make the overall experience enjoyable for all.<\/p>\n
\u201cIt should be held away from everyone\u2019s homes,\u201d Clarke notes. \u201cThe formality of it encourages every member at the table to feel equally respected regardless of age or family position. But it also has to be fun. I recommend combining the meeting with a family celebration or even a short getaway where everyone can enjoy themselves.\u201d<\/p>\n
Crucially, at the inaugural meetings that she facilitates, Clarke makes a point of describing the \u201cFamily Treasury Process\u201d to the family in order to build \u201cbuy-in\u201d for future meetings.<\/p>\n
As more meetings are held and everyone\u2019s maturity and communication skills grow (and your family\u2019s rate of progress will depend on how often you have meetings), your family will begin the Family Treasury Process. This will create a culture founded in a unified vision that supports all family members to thrive.<\/p>\n
Specifically, the process first involves the creation of a collective mission. In a farming family, the mission might include stewardship for the land, community service and ensuring all family members are educated to the level they desire.<\/p>\n
After that comes the creation of a family charter, a governance model for the family business. \u201cAlong with other aspects, each family member identifies as wanting or not wanting a position in the business, what that position should be at this time, what responsibilities are involved and what the compensation for that should be,\u201d Clarke explains. \u201cIt also includes a framework for decision-making that clearly delineates ownership from employment. A collective responsibility for decision-making develops in that there is a realization that family business decisions impact everyone.\u201d<\/p>\n
Sore point solution<\/h3>\n
A common source of conflict in farming families (and actually, in any family with a business) is the generational struggle for operational power, in which the younger generation wants to make changes, often involving technology, while the older generation resists.<\/p>\n
Clarke explains that an important part of the Family Treasury Process is the empowerment of younger family members to take measured risks while at the same time assets are protected. \u201cSlowly, the older generation will allow the next generation to take over, but along with other factors, the older generation needs to feel financially secure now and for the future,\u201d she says.<\/p>\n
\u201cMaybe it\u2019s a buyout or guaranteed income that has to be agreed on. There is a lot more willingness to let the younger generation try new things if the older generation is financially secure. You\u2019ll be digging into your family farm finances and creating a strategic financial plan, along with your strategic business plan, as part of the Family Treasury Process, and the possibilities for financial security of the older generation can then be explored.\u201d<\/p>\n
Some parts of the process are not easy, and that\u2019s precisely why the roundtable meetings are so necessary. \u201cThese conversations need to be had, and a facilitator is very important,\u201d Clarke says. \u201cAnd start now. The sooner the skills and mindset can be developed, the better. You are really working to ingrain them in the next generation.\u201d<\/p>\n
Although it can be difficult, she believes the process is very rewarding. Through your hard work, your family will be united, mature and strong, and as Clarke says, the best decisions \u2014 financially and otherwise \u2014 \u201care made by this sort of family.\u201d<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
Non-farm family businesses are in the throes of succession planning too. With the help of Chris Clarke, here\u2019s how they\u2019re elevating their team skills for superior succession planning \u2014 and why it\u2019s driving their business performance as well.<\/p>\n","protected":false},"author":1,"featured_media":2797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/posts\/2796"}],"collection":[{"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/comments?post=2796"}],"version-history":[{"count":0,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/posts\/2796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/media\/2797"}],"wp:attachment":[{"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/media?parent=2796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/categories?post=2796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iafp.ca\/planners\/wp-json\/wp\/v2\/tags?post=2796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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