Services

PEER-TO-PEER GROUPS

Who can you turn to when you need to talk about issues in your family business with someone outside the family? The Family Business Association has a solution: peer-to-peer groups for family business members to share their experiences and real-life situations, and to learn from one another.

Developed by experienced family business counselors Jeffrey Davis and Tom Davidow, our Peer-to-Peer Program provides participants with opportunities to:

•    Gain feedback from family business members who are dealing or dealt with similar issues
•    Share experiences in a safe and confidential setting
•    Develop creative options for potentially solving problems collectively
•    Advance ideas about how to align family decisions with business decisions
•    Support improved leadership and communication skills

The Peer-to-Peer program is offered in various locations around Massachusetts. Each group is moderated by a trained and supervised facilitator, and meets six times during the year, for approximately two hours. Each meeting focuses on a different topic, offers case studies, and includes interactive discussions. Regular participation by peer group members is expected.

Participation in an FBA Peer-to-Peer group will give you the opportunity to benefit from the experience and knowledge of others in a situation similar to your own. If you would like to join a Peer-to-Peer group in your region please contact Jenny Sok, Executive Coordinator of the FBA, at 617-218-2077, or via email at jsok@fbaedu.com.

 

BOARD OF ADVISORS

For a privately held company an outside Board of Advisors can provide the business owners and family members with support, advice and assistance. An experienced and well-connected Board of Advisors can help a family business grow and prosper by providing an external prospective and sharing their experience and business acumen.

But how do you go about organizing and recruiting a Board of Advisors? What sort of people should make up the Board? What are the expectations?

The Family Business Association offers guidance on organizing, selecting and working with an informal Board of Advisors. We can help you identify and recruit the right member, establish standards and policies, and even provide advice on compensation for Board members.

For more information on establishing a Board of Advisors for your family’s business please contact Jenny Sok, Executive Coordinator of the FBA, at 617-218-2077, or via email at jsok@fbaedu.com.

 

NEXT GENERATION AFFINITY GROUP

Actively engaging sons, daughters, nephews, nieces, sons-in-law and daughters-in-law – even the grandchildren –in the family business is essential to continuity. Yet members of the next generation face their own challenges and frustrations, often without access to an appropriate outlet or resources.

To provide a forum for younger family members the Family Business Association has organized Next Generation Affinity Groups. These groups serve as an informal setting to share ideas, network, socialize and establish connections with business peers of a similar age.

If you are an up and coming member of your family’s business and you are interested in becoming part of an FBA Next Generation Affinity Group please contact Jenny Sok, Executive Coordinator of the FBA, at 617-218-2077, or via email at jsok@fbaedu.com.

 

EXIT PLANNING

Do you have plans for retirement? What will become of your family business once you have handed over management? Will the next generation assume command? Or is selling your business the best option?

All of these questions – and many more – need to be answered well in advance to ensure the successful transition of your business. Exit planning is an essential part of the management of a family owned company. But it can be complex to the point of being overwhelming.

The Family Business Association offers assistance in organizing an exit strategy, utilizing the guidance and advice of the region’s leaders in succession, retirement and business transition planning. From financial aspects to legal details, compensation questions to tax issues, we have access to information and expertise that can be applied to your family business.

Don’t let exit planning wait! For information on accessing the Family Business Association’s exit planning resources please contact Jenny Sok, Executive Coordinator of the FBA, at 617-218-2077, or via email at jsok@fbaedu.com.

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It takes hard work, determination and persistence for a family business to succeed.

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