Family Business Consulting
What is the most important thing to you? No matter the age, culture, or socio-economic status, when people around the globe are asked this question, the overwhelming response is “My family.” Yet, how often do we actually spend intentional time improving this vitally important component of our life? The key word here is intentional. Sure, many of us spend time with family; eating dinner, going to sporting events, watching TV, etc. However, if you are like most people in this fast-paced society, it’s not too often that we are truly and fully connected.
Although many people in the U.S. report that family is the most important component of their lives, not many prioritize it. There are many reasons why “family” has slipped down the list of priorities, lack of time and a need for more money, are probably the most common reasons provided. Whatever the reason, there seems to be a larger cultural shift that has occurred in this society. The message we are taught from a young age is that family relationships should always be good and easy. We hear the message that relationships and marriages should just come to us and fulfill our needs; we ought not to have to fulfill others’ needs. And if you are in a family experiencing difficulty or conflict, our society says it is okay to give up and leave rather than stay and work it out.
The problem isn’t that there exists conflict or difficulty within family relationships, the problem is that we have forgotten how to resolve these conflicts positively. Leaving isn’t always the best answer for everyone involved. JSA Advising offers many avenues to enhance family harmony, resolve conflicts, and systematically nurture the relationships that are most important to us. JSA Advising can facilitate family retreats, develop rewarding philanthropic activities, engage in next generation coaching and development, conduct family legacy brainstorming and planning, and of course, facilitate meetings to help families address challenging topics and resolve conflict.
One of the most powerful ways to demonstrate family as priority is to spend time with them. JSA Advising can enhance this time by having facilitated discussions on important issues that often occur within families. Choosing a location that is fun and inviting for all family members can increase the energy and enjoyment of the retreat. Combining a few hours of good family discussion with several group activities can be a great balance for a very rewarding experience that leads to a thriving family dynamic and legacy.
Giving back to others can be one of the most powerful gifts to give oneself and one’s family. By creating a model of giving, one is developing a legacy that will last for generations to come. Engaging in a philanthropic activity as a family often instills a sense of purpose and creates a common bond between family members that can last a lifetime.
Next Generation Coaching and Development
Many families want the next generation to be happy and healthy. This is not always an easy task to accomplish. Due to the complexity of life, finding health and happiness can be elusive for any family. JSA Advising specializes in working with the next generation to help maximize their potential. JSA Advising takes into context the age and developmental level of the next generation and offers a customized plan to enhance their quality of life and assist them in reaching their full potential.
Family Legacy Planning
What do you want to be remembered for? This is a question that is not easily answered. Yet, when many reflect on this, most want to be remembered for “doing good”. JSA Advising creates the opportunity for families to brainstorm and plan ways in which they can achieve a lasting legacy and instill healthy, sustainable values within their family for many generations to come.
Communication and Conflict
Poor communication and conflict often go hand-in-hand. Deliberate facilitation can be an effective way to reduce conflict by creating structure around the communication processes. JSA Advising is experienced in facilitating meetings for families and groups that have difficulty communicating clearly and without irrational emotion.
Consulting with Families of Wealth
Over 70% of families fail to transfer their “asset” from one generation to the next. Roughly 90% fail to pass it from the 1st generation to the 3rd generation. Why? It’s often not due to lack of support from advisors giving technical advice (tax, legal, financial, etc.). Instead, the breakdown occurs on the relational or intangible side of this transition. This is where JSA Advising can help.
According to a study conducted by Williams and Preisser (Preparing Heirs 2006), 85% of the assets that fail to transfer happen because a lack of trust, communication, clear expectations, or preparation from the next generation.
Family Communication and Harmony
Talking about wealth or personal matters can be very difficult for today’s modern family. Having a professional at these meetings to facilitate a healthy dialogue can help ensure that all important topics are addressed and conducted in a way that fosters sustainable trust and family harmony.
Trust is an elusive variable that often comes from positive shared moments. Once trust is lost, it can be difficult to regain; it can take time and nurturing to see it grow. Through shared experiences, family retreats, and other methods, JSA Advising helps create a positive family environment that can allow families to connect in ways they may not have thought possible.
Family Legacy Standards
Many individuals want to leave something behind for their children and children’s children. Often, society is telling us the greatest things we can will to our children are money and security. Although, money and security are tremendous assets to leave our children, many people are now leaving more. JSA Family Legacy Standards helps elder generation family members develop strategies to pass along their most important asset – their family values.