Opinion piece by Sarah Leo, FBA Forum Group Facilitator (SA), Family Business Accredited Advisor, leadership consultant, and Founder, CEO and General Manager of Even Keel Leadership.
It can be easy to think that your family business is unique.
That you are the only one facing these problems.
Maybe differing perspectives. Perhaps the current controlling generation won’t step out. Or maybe they stepped out too quickly and you feel alone. Perhaps you don’t know how to raise the topic of succession planning. Or you aren’t sure if the current plans are fair and equitable. You could be having a disagreement with your siblings, parents or cousins. Or you may be frightened by the expectations to join the family business and have other plans. It could be that you are a parent who is unsure how to bring your children in. Do they want to come in? Are they the right choice? Should you consider a non-family CEO or General Manager?
Maybe you are that non-family executive, and you are looking for support from other family businesses to approach the challenges you see. Family members employed in the business but not performing. Champion family members being overlooked for opportunities. Business decisions made at the family dinner table instead of the corporate board room.
I’m here to tell you - your family business challenges are not unique.
There are hundreds of people facing the exact same challenges at different times. In the same industry and across different industries.
They are meeting with peers for facilitated discussions to work through their business and family challenges and opportunities. They don’t feel alone. They feel supported and understood. They are making progress and considering actions. They are engaging with advisors and reviewing options.
As an FBA Forum Group Facilitator, it has been encouraging to witness the strong bonds created amongst members and hear of the benefits they have gained.
I have summarised the top 5 reasons I would encourage others to join a Family Business Forum Group:
1. Improved wellbeing
Sometimes you just need someone outside of your own family to talk things through. It’s especially helpful when those individuals understand both business and family dynamics. Our Forum Groups offer a monthly opportunity to engage in such discussions, reminding members that they are not alone. Often, members enter meetings burdened by complex dilemmas and decisions within their business or family. Through group discussions, these issues are unpacked, and various solutions are proposed. I have observed remarkable changes in members’ demeanours as they leave, feeling understood and equipped with actionable insights. The chance to step away from their daily routines, share a meal, and engage with peers contributes to this positive shift. As the saying goes, “A problem shared is a problem halved.”
2. Added courage
It’s not unusual for members to come to a meeting with an existing struggle, but also with ideas and options of their own already thought out. The trust and understanding within our Forum Groups provide a safe space to discuss these options and gain confidence and clarity on the best path forward. The group often refines approaches with advice on language, timing, and context.
For instance, one member needed to have a difficult conversation with an employee. The group affirmed the decision, suggested alternative approaches, and eagerly followed up at the next meeting to see how it had gone. Validating your ideas with peers can provide the added courage needed to take the next step.
3. A network of networks
In business, it helps to be connected. Yes, you can search for information on Google but that can be overwhelming as you try to research pricing, features, services and most importantly, who to trust! In our Forum Groups, members often share the contact details of suppliers, software packages, service providers and advisors with whom they have successfully worked. This has saved countless hours of research for fellow members.
For example, after a thorough analysis of their needs, one member streamlined the process of implementing an inventory management system that seamlessly integrated with their accounting software.
4. Encouragement
In family businesses, contributions may often go unrecognised, especially if you are in the position of highlighting the need for succession, instigating tough conversations or consolidating family office affairs. Forum groups provide support and encouragement as you walk this path. Members are genuinely interested in your progress from one meeting to the next and we have had cheers and celebrations as people announce significant outcomes or milestone achievements. From selling arms of the business portfolio to execution of the succession plan with share transitions. Knowing you have someone validating your progress can be profoundly reassuring.
5. Broader perspectives for succession planning
I have witnessed a first-generation business owner excel in succession planning by implementing the best practice framework discussed in our member sessions and reinforced by guest speakers. Beyond theoretical guidance, they also embraced insights from a second-generation forum peer navigating their own succession plan. This exchange of perspectives fostered a deeper understanding of potential viewpoints within their family business, leading to faster progress and more defined outcomes.
You don’t need to feel alone anymore.
Forum Groups offer a supportive and confidential space to navigate challenges, raise tough issues and talk them through, workshop ideas or issues, and celebrate successes. Led by an accredited family business facilitator, the Forum Program is your unique opportunity to seek counsel, learn from other’s experience, and share your own learnings.
Harness the knowledge of a community that truly understands.
If you would like to have a confidential discussion about joining our Forum Group Program, please reach out to Olivia Spalding, Forum Group Manager at 03 9123 4412.
