We have partnered with The Family Business Podcast: providing family businesses with tips and guidance on key family business questions. The Family Business Podcast is hosted by Russ Haworth (The Family Business Consultancy).
An update from Russ Haworth at the Family Business Podcast on what's coming next in 2020.
Episode 1 - What is Governance?
What is family business governance? Why is it useful? What are some of the common barriers to putting governance in place? Where can you start from?
EPISODE 2 - WHAT IS A FAMILY CHARTER?
The Family Charter is the cornerstone or foundation document of a family governance system. It is the bedrock on which everything else is built.
It is also known as a Family Constitution or agreement. It is the main document that the family use to outline their values and vision for the family business.
Whilst rare they are gaining recognition and being adopted by many families. In this episode Russ explores why they are useful and how to get started with your own.
Episode 3 - The Family Council
Family Councils create a bridge between the business family and the family business board. In this episode Russ explains what a Family Council is, what roles and responsibilities it has and how you would typically elect its members.
Russ also covers the important role of the Chair, the skills they are likely to need and the way in which the Family Council interacts with the business and the family.
EPISODE 4 - what is a family assembly?
Continuing our look at Family Governance, in this episode Russ discusses the Family Assembly, or retreat/meeting: what they are, who attends and what subjects are covered, along with some hints and tips as to how to get your own family meetings up and running.
We also look at the interaction between a family assembly, a family council and the family charter and provide a reminder of the key benefits of family governance.
EPISODE 5 - the family business board
As a family business grows, the need for the right forums to be in place to discuss the important strategic goals of the business becomes increasingly important. Once such forum is the Board of Directors.
In this episode Russ discusses when you would want to introduce a board to the family business, and how. Who sits on the board, what are their responsibilities? How many board members should there be and how are board meetings structured.
EPISODE 6 - Non-Executive Directors
The appointment of a Non-Executive Director is a key milestone in the evolution and professionalisation of a family business. They bring experience, expertise and an independent voice to your board meetings and they are there to challenge the executive directors, in a constructive way to help you push the business towards its strategic goals. In this episode Russ covers who would be a good fit and who you should perhaps avoid and which characteristics and skills you would want them to bring to the party.
EPISODE 7 - CORPORATE GOVERNANCE
In this episode we look at Corporate Governance and in particular the Wates Principles.
The Wates Principles are a set of Corporate Governance principles that some large businesses need to report against. In this episode Russ discusses these principles and how they can be adapted and adopted by your Family Business.
He also looks at some of the legal structures that can be put in place to protect the shareholders in the business should disputes arise or deadlocks appear in your voting.
You can find the Wates Principles here.