Family Business Advisor in India | Family Business Consultant

1.  HOME ABOUT US SERVICES RESOURCES CONTACT US Family Business Consulting Services Family Business Governance Family Constitution Family Mentoring One of the best mechanisms tor ensure that A family business needs to have ground An outsider might mentor family members in a family business is professionally run is to rules for managing the family and business a family business to bring new ideas and establish and implement Family Business interface better. Such  drafted & skills. An external mentor can share industry Governance Structure. Create the roles and documented rules are commonly referred to trends, best practises, and new ideas that incorporate it in the Family Business as a Family Constitution. They provide can help the business develop and flourish. Structure to establish rules and create guidance to the family members & business External mentorship offers objective counsel

2. boundaries. executives and clearly defines the principals and guidance. and practices Know More Know More Know More Family Business Strategy Family Business Mission Family Business Succession Planning Strategy is the heart of business success, What the family stands for and what it more so for the family business as it involves An important factor for the survival and aspires for are very critical questions. Clarity not only business strategy, but also needs to continuation of a family business is a well- on the same helps develop harmony among deal with the ever-evolving ownership and thought-out succession plan. The fact the family members as well as gives them a

3. family challenges. Some of them being: remains, those who are running a family sense of belonging for what they stand for. A Separating family and business issues, Buy- business today will not be able to continue in mission statement is a tool that helps the in from all family members… their role forever. If the aim is to survive family achieve this purpose. During the through generations, the time to start process, the family discovers their core planning for eventual succession is today, values and principles on which it operates, when the current team is active and away which becomes the guiding force for all from retirement and the next generation is in decision making for the family in personal as its productive years well as in business life. Know More Know More Know More

4. Family Business Council Managing Conflicts Mortaring for Family Business The root of disagreements starts with Communication is one of the keys to the dilemmas and deviations which are the success of a family business. Family seeds for disagreements. Long pending Mortaring in a family business is bringing business council is one of the mechanisms disagreements culminate into conflicts. together different generations of family that foster communication and help the Hence the family must learn to manage the members to improve ties and work together family plan and develop the family business conflicts and resolve them faster, so it does to achieve goals. Any family business relies better. not pose harm to the family business. Every on family members’ collaboration to family business faces conflict at one point or succeed. Mortaring can be difficult since it another. involves family members from different generations with diverse business goals, viewpoints, and tactics. However, it is necessary for corporate success and family harmony. Know More Know More Know More

5. Shareholders Agreement Family Business Advisory Board Family Business Importance of independent Board Transfer of ownership is one of the triggering Family Business Advisory Board consists of events for disputes. To have clarity on the individuals who are not affiliated with the sale, transmission, and transfer of business family business, but who have extensive A Board of Directors is a group of individuals ownership among family members calls for business experience. Utilizing an Advisory who are either elected or appointed to guiding principles. The same can be Board can be invaluable for a family oversee the operations of a business and achieved through a Family Business business, as it promotes governance within make important decisions on behalf of the Shareholder Agreement. the business. business. They have an important role to play in terms of approving the strategic business plans in line with the long-term business direction of the business. Know More Know More Know More

6. Wealth Management Family Retreat Family Business Contracts Communication and transparency are the corner stone of any successful and The major beneficiary of the family business As the business and family evolve, newer sustaining family business. As the family is the family itself. Generally, the family is and newer challenges emerge for the grows and the number of family members heavily invested in the family business. But business owners, many times they are not increase, the family needs to plan events to as the business grows larger, they will have equipped to handle those challenges and be together – where they can understand to start thinking about creating personal things can get complicated. While hiring an each other, communicate their views, and wealth and creating a suitable mechanism employee, we typically enter into specific develop a shared goal for the family and the to build a moat to protect their wealth. agreements that specify their role, business. This is an important activity, as the Effective wealth management strategies responsibilities, and deliverables from them family now comprises of people from include succession planning, managing and against the compensation that they will different age group, with different life administrating wills, estate planning, and draw. However, family-owned businesses experiences, possesses different skill sets, creating various mechanisms to manage often ignore the need to have a formal and has different exposure. personal wealth through trust and family agreement with family members who work office. for or otherwise are affiliated with the family business.

7. Know More Know More Know More Amicable Separation Exit Strategies The major beneficiary of the family Selling a family business can be a

8. business is the family itself. Generally, complicated and emotional matter, the family is heavily invested in the with many pieces and moving parts. It family business. But as the business is part of a sustainability exercise where grows larger, they will have to start owning a family’s decision plays an thinking about creating personal important role. If you decide that it’s wealth and creating a suitable time for a change, various options mechanism to build a moat to protect should be reviewed before you decide their wealth. Effective wealth on selling your family business. The management strategies include family needs to be convinced about succession planning, managing and why the sale or should they pass it on to administrating wills, estate planning, a new set of family successors? How and creating various mechanisms to the sales proceeds will be utilized or manage personal wealth through trust invested?  and family office. Know More Know More Our Services Useful Links Get In Touch To know how our services

9. can help your family Sandesh Vasant Mestry Family Business Governance Resources   business reach its Family Business Family Constitution Our Blogs   potential – Consultant and Mentor Family Business Strategy Articles   101, New Chandralok CHS,  +9198 2001 4999 +9122 7961 4770 +9122 2541 1214 Ground Floor, Near, Veer Succession Planning Succession Planning Survey    Savarkar Marg, Tembhi Wealth Management Our Services   Naka, Family Business Advisory Board Enquire Now   Thane West, Maharashtra  sandesh@mestry.in 400601 Managing Conflicts  Exit Strategies  