Coordination

Coordination is the act of organizing, making people and things work together for a common goal within an organization.

It means to arrange, evolve, bring proper order to; a managerial function in which different activities of an enterprise are adjusted or aligned.

" It is a great privilege to listen to the stories of successful family business owners. The amount of time, energy, effort, discipline, drive, leadership, purpose, etc. they give or have given to create value in their businesses is quite remarkable and inspiring."

The amount of time and money expensed creating business plans, company vision statements, mission statements, guiding principles, a company set of values, assessment tools, marketing plans, training programs, sales training programs, the development of key employees and senior management teams, compensation packages, evaluations, off site retreats, etc. is amazing. All of these governance, organizational and development tools, techniques and strategies are important, much needed and certainly essential for increasing company value.

At the same time, I am always shocked when the topic turns to family. 

Typically, the family net worth statement is larger than the net worth of the business.  When I ask about the strategic plan for the family, the family mission statement, the family code of conduct statement, the family assessment tools used to assess each family member’s strengths and weaknesses, there is silence.  Nothing. Their families mean everything to them yet compared to their corporate expenditures for the items mentioned above, there has been less effort, energy and purposefulness in addressing the same governance, organizational and developmental tools, techniques and strategies for the family organization.  Where are the family meetings, the team building exercises, the offsite retreats, the training programs for heir preparation, the family charitable plan?

At Hostetler & Church, LLC, we function as the family wealth coordinator.

We assist business owners and families of wealth in these areas: We help drive “family” values within the “family” organization.  We bring governance, order, organization, coordination and project management to the family and the family enterprise. The coordination and synchronization of any family wealth plan requires maintenance, service and controls.  There are many tools, services and internal controls to the ever-changing moving parts.

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Check the background of this financial professional on FINRA's BrokerCheck