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Creating a Family Business Legacy

Our founder talks family business charters with Roger Anderson, host of the Family Business 360 Podcast, and program manager at the Austin Family Business Program at Oregon State University.

Family business charters, also known as family constitutions and family agreements, are a vital piece of family business governance. The document governs how the business runs in the absence of the founder.

Family Business Charters

Positively People CEO Jean Meeks-Koch, Ph.D. discussed how family business charters address the family component within the dynamics of the business, such as a family member who is an owner but doesn’t work in the business, or a member who isn’t an owner but works in the business. So with business charters we look at how the family integrates within the family business.

Family business, business charters
Family business charters are a crucial element to the legacy of your business.

The earlier you start thinking about what type of business you want – if you want a legacy – the sooner you can start thinking about using the family business charter to begin defining and outlining the important elements in creating a legacy.

Learn more about this important tool for family business legacy by listening to the podcast here.

 

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