University of Northern Iowa



5 Reasons to Skip Family Governance as a Waste of Time

Posted on Thursday, January 9th, 2020

5. You enjoy being alone for holidays – or really any time of the year for that matter.  

4. Your family finds a way to put the FUN in Dysfunctional! Why create structure and a level of understanding for family when a Magic 8 Ball is so much more fun – especially the reactions from family members as the dreaded “Better not tell you now” response comes up. 

3. The Next Generation of my family has no hope of being able to manage this company, so why bother. I just don’t see how any of them, including my own kids, could ever have the abilities that I have. They’ll run it into the ground, so my best bet is just to sell.  

2. Family Governance involves proactive planning for family business decision making. It serves as a vehicle to facilitate conversation BEFORE problems arise. It allows the family to have a general understanding of how family members are able to interact with the business. Why would I want to be proactive? We’ve gotten this far flying by the seat of our pants – why ruin a good thing?

1. My family is as tight knit as they come. We’re always on the same page – my page! If someone has an idea, they can suppress it until an opportune time when we are going through a conflict and then throw it out there when we are all boiling over with emotion. That’s when we make our best decisions as a family anyway.