Annual Meeting Of Partners - LEARN VICARIOUSLY THOUGH THE ERRORS OF OTHERS
DSB&Co frequently encounters business situations that should have been avoided but developed when family businesses operate in an environment void of transparency and open communications amongst partners.
More than a recommendation, it is necessary to conduct annual meetings to review operating results and to cooperatively formulate plans for the future. All the family businesses we work with meet amongst themselves or with us to formally discuss business issues including highly charged topics such as compensation for which mechanism exist attain equitable results.
No matter the agenda, the primary motivation for such interaction is to avoid expensive miscommunication amongst partners. It's also necessary in our very complex regulated society to involve professionals with more experience than yourselves to help guide you. We can assure you, it is better to learn vicariously though the errors of others then learn first hand by misstep. What is at stake is very material to family businesses.
Grappling with the thorny reasons for not communicating with one another is likely the most significant of the obstacles needing to be overcome.
If you have any questions, do not hesitate to contact the professionals at Dana S. Beane & Company, P.C.
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