BanyanGlobal Family Business Advisors

In the early days of a family business, it’s common that the management and Owner rooms are conflated. Oftentimes, the founder is also company leader. But as the family and the business grow, it’s important to develop boundaries so that decisions are being made by the right people. Check out this excerpt from the Harvard Business Review Family Business Handbook to learn more. #FamilyBusiness #Ownership #FourRoomModel

Many family businesses struggle to strike the right balance between family involvement and board effectiveness. Having family members on the board doesn’t mean you are sacrificing a board seat. In this article from Benjamin Francois and Omar Romman, we share strategies families can use to maintain their connection to the business while ensuring their board remains effective and focused on long-term success. #FamilyBusiness #Ownership #FourRoomModel

Contrary to where people often start when constructing their board of directors, we advise to not start with deciding who will be on the board. As Banyan’s Rob Lachenauer explains here, instead we suggest you start by deciding, as owners, what you want your board to accomplish. Rob explains how to think through this: #FamilyBusiness #Ownership #FourRoomModel

Building your first family business board can be overwhelming, but it’s important to make sure you’re building one that understands what the owners want. In this article, Banyan’s Omar Romman explains how you can best leverage a board of directors for your family business. #FamilyBusiness #Ownership #FourRoomModel

An effective board can be a huge asset to a family business, family office, or family enterprise. It should act as the key link between owners and management and provide oversight, expertise, and help the owners execute their goals. So how do you ensure that your board is effective? To learn more, read this Harvard Business Review Family Business Handbook excerpt. #FamilyBusiness #Ownership #FourRoomModel

In family businesses, it’s not uncommon for different owners—and future owners—to want to be involved in different ways. But conflict can arise when expectations for different owner roles are not discussed or normalized. Check out this Harvard Business Review article from Banyan’s Nick Di Loreto explaining five different owner roles and why it is important for owners to define and align on them. #FamilyBusiness #Ownership #FourRoomModel

In family businesses, it’s not uncommon for different owners—and future owners—to want to be involved in different ways. But conflict can arise when expectations for different owner roles are not discussed or normalized. Check out this Harvard Business Review article from Banyan’s Nick Di Loreto explaining five different owner roles and why it is important for owners to define and align on them. #FamilyBusiness #Ownership #FourRoomModel

Having good governance structures in place is important for family business owners. This starts with a step that owners often skip: aligning on what decisions owners will make and which they will delegate. Check out this video from Banyan’s Omar Romman to hear him explain how to think about reserving and delegating rights. #FamilyBusiness #Ownership #FourRoomModel

Some owners of family businesses have the legal voting power, but in healthy family businesses, the perspectives and ideas of other owners are also considered. The benefits of including the voices of the other beneficial owners and future owners can be surprising and long-lasting. Check out this video from Banyan’s Alison Hiler Isaacson to understand the concept of voice and vote and how it can help owners make better decisions together. #FamilyBusiness #Ownership #FourRoomModel

Another great gathering in our Boston waterfront office! There’s nothing better than coming together to learn from each other, volunteer together, and build trust within the team. We especially enjoyed our charitable project— building lending libraries for ReadBoston with the help of Daniel and Beatrice of TeamBonding! We are passionate about giving back to our community, and ReadBoston is doing amazing work by providing resources to schools, community organizations, families, and more to set Boston's children on the path to reading success.