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Jean Stone Associates works with family-owned businesses to help them realize their vision for both family and business in ways that improve business results and strengthen family relationships. We strive to help all family members contribute in ways that are personally and professionally meaningful as owners, as employees in the business, and as members of the family.
Principles that guide us:
Respect for complexity. Families exist to develop and nurture members and are often based on unconditional acceptance. Businesses exist to make a profit and are performance-driven. Combining family relationships with business relationships can create complex situations for both the family and the business. We respect that.
Collaboration. We do not prescribe solutions. While we are trained in process consultation and managing the relationship between family and business, it is the family that is the expert on its business and knows what works well and what doesn’t. We collaborate with the family and its existing advisors to develop custom-tailored plans to meet family and business needs.
Build on existing success. Every organization has successes, and we help the family identify the successes their business has had. We then examine those successes to find out how they were created and what characterizes them. Finally, we work out how to create those same conditions in areas of the business that need improvement.
Vision realization over problem solving. Instead of focusing on problems to be solved, we prefer to clarify the family’s vision for itself and for the business. We then work with the family to develop plans for how to realize its vision.
Change takes planning and execution. Effective and sustainable change requires thoughtful planning and the development of new knowledge, skills, and behaviors. We serve as coaches and guides to our clients on the journey to fulfilling their vision for family and business.
How we work:
Assessment – We begin by conducting in-depth interviews with family members, key non-family members of the business’ management team, and existing family legal and financial advisors. This gives us a complete picture of the family and the business from multiple perspectives.
Planning – With the family, we clarify the family’s vision for itself and for the business. Using that, we work with the family to develop a set of objectives for realizing these visions. Jointly we develop plans for meeting each objective, including target dates and assignment of responsibility.
Implementation and Follow-up – We continue to work with the family as they implement their plans for fulfilling the family and business visions. Our role is to facilitate their work by coaching, consulting, and mentoring. Sometimes this may mean bringing in outside expertise if additional knowledge or skill is needed.
Services and Deliverables:
Assessment:
Family business assessments
Annual family business check up
Planning and Strategy:
Succession planning
Family forum/council development and implementation
Establish and facilitate strategic planning
Tactical and Operational:
Employee performance management
Compensation systems
Management consulting
Development and documentation of family policies and procedures
Development and documentation of business policies and procedures
Process management
Develop and document business policies and procedures
Facilitation and Retreat:
Family retreats/work sessions
Coaching
Coaching non-family employees working in family-owned businesses
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