NYCFEC Announces Spring Programs for Family-Run Businesses

On April 27, the NYC Family Enterprise Center (NYCFEC) begins its educational programs for 2018 for area family businesses to help them with some their most challenging issues.

NYCFEC programs and sessions will be held throughout the rest of 2018, and they are only for NYC-area family businesses. The sessions are confidential, there is no commercial influence or solicitation allowed, and there is plenty of time to ask questions.

They are led by experts from around the country and by family members of inspiring, highly successful family businesses. A full list of programs can be found at nycfec.org.

All of the programs and sessions are all affordable and a great value. Furthermore, Queens Chamber of Commerce members get a 15 percent discount by using code “QCC051” when registering.

You are not alone, as every family owning a business faces a complex set of challenges and dynamics that go beyond typical business issues. Only a small percentage of family businesses survive past a few generations, but this is changing as more families and their businesses are becoming increasingly educated, disciplined and professionalized in their approach and planning.

Mitzi Perdue from the Perdue Chicken and Sheraton Hotel families will lead off NYCFEC’s 2018 April program “Building Strong Family Business Foundations – Part I” by sharing key insights.

Other sessions include:
• How to deal with the voice and interest of the family.
• How do you define and differentiate between the needs of family and the needs of the family business?
• How do you harness and use the interest of the family for the benefit of the company and vice versa?
• Defining family values, mission and a vision for the future.
• Examining best practices in effective decision-making in family-owned companies.
• Staying connected and building lasting relationships.
• Structures of family meetings and family assemblies: When and why to have them.
• What it means to be an owner: the roles and responsibilities.
• Communication and structural techniques to better align the family owners, board and management.

Other 2018 programs for this spring and summer include:

• May 11, 9 to 11 a.m. Part I: Understanding Family Conflict
This session introduces common themes in family business conflicts and provides an opportunity to consider participants’ specific areas of interest.

• June 19, 9 to 11 a.m. Part II: Applying Basic Strategies to Address Family Conflict
Building on the knowledge of concepts covered in Part I, this session will focus on practical methods and techniques to prevent and resolve family conflicts.

• July 19, 9 to 11 a.m. Part III: Refining Your Conflict Management Skills
This session will help participants evaluate and enhance their efforts to apply what they learned in Part II to their family’s particular circumstances.

• June 13, 9 to Noon Discussing Difficult Family Topics
This session will help define the elephant in their room better, understand what it is, and why it challenges the family business system, and what approaches and techniques can be used to help families discuss their most difficult and important issues. Through examples, frameworks and interactive discussion, attendees will learn strategies for deciding if, how, and when to address. This will include the potential impact(s) of addressing vs. not addressing the situation.

Examples difficult topics might include:
• Inheritance,
• Retirement or changing roles of family members,
• Fairness or favoritism,
• Pre and post nuptial arrangements,
• In-law involvement,
• Succession and transitions,
• Money and other assets and age of disclosure, and
• Addiction, behavioral, and health issues.

These sessions are small and private, so you can feel safe about raising or discussing any of your challenges or questions. You do not have to disclose your full name or identify your family business. Space is very limited, so sign up now to save your spot.

If you would like to join our community or a NextGen, SeniorGen or other group of individuals from family businesses, please fill out the form on our website or contact us at info@nycfec.org or (212) 889-8332.

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