Questions Best Answered by
Family-Business Councils


  1. How committed are we to keeping the business?

  2. Under what conditions would we consider a sale?

  3. What is our family mission and vision for the business?

  4. What are our personal goals?

  5. What is best for the business and the family?

  6. Is employment a birthright, obligation, or privilege?

  7. How do we decide who will be invited to enter or leave the company?

  8. How will we determine their competence, responsibilities, and compensation?

  9. Are employment perks to be equitably awarded?

  10. How will we balance the interests of employed and non-active family members?

  11. How will we foster meaningful careers for each family member?

  12. How will we support family members in business ventures or financial need?

  13. What will we do if a family shareholder dies or wants to sell his or her stock?

  14. Who may buy shares, at what value, and under what terms?

  15. When and by whom will family members be selected for leadership roles?

  16. How will we foster our business-family values and cherished traditions?

  17. How do we reward non-family key employees?

  18. How does our family plan complement the owner's plan and the business plan?

  19. For what contingencies do we need to plan?

  20. How will we meet our responsibilities in the community?

Without trust
cooperation is impossible.


Lange Consulting, LLC

puts into practice

Seven Principles for
Building Trust in Your
Family-Business Council

* Stone Sculpture by African Carver