There are countless excuses people give for not conducting regular family business meetings. For some, the need has not yet been recognized, in other cases present management isn’t ready to give up control and for others, the thought of discussing the future of the business upon the death of the present management team is not something they want to think about. However,future management of the business will happen by design or default. Conducting regular family business transition meetings can help families discuss the long-term operation and management of the business and minimize future problems. Specifically, these meetings can help develop a stronger family, develop a stronger business, plan for future ownership, and recognize and resolve conflict.
For more information on this topic, please refer to the OSU Extension Fact Sheet Conducting Successful Family Business Transition Meetings” available at http://ohioagmanager.osu.edu/resources/index.php and click on “Transition Farm Planning Factsheet Series.” Should you have questions, please contact Chris Zoller ( zoller.1@osu.edu ).