Personal Advisory Circles (PACs)
Your Own Dedicated “Board of Advisors”
A PAC is a group of 8-12 FBAS members from different non-competing family businesses, and occasionally advisors, who meet monthly to support each other by sharing both personal and business experience in a confidential and supportive environment. FBAS provides excellent resource materials and moderator training, along with an annual grant for each PAC to help cover the costs of a PAC retreat.
Probably the most common challenge family business members face is isolation – it is often difficult to discuss problems with other family members. Also those outside the family business often don’t understand the unique challenges of a family enterprise, such as:
Developing a continuity plan consistent with family values and traditions
Family governance including managing family conflict, rivalry and communications
Successfully bringing family members into the business
Growing the business while maintaining family harmony
Passing along vision and values to the next generation
This forum provides the unique chance to learn from a group of like-minded professionals and family business members. The most attractive benefit of FBAS membership for many is the PAC experience, which is considered worth the membership fee alone.
Why join a PAC?
The PAC’s serve as your own mini board of directors, supporting you in your challenges and opportunities as a family business. Members leverage the perspectives of other family businesses, industries and generations.
We encourage all family business members to join a Family Business Personal Advisory Team. This is their unique opportunity to learn from each other, to work on their family business in a special way and to have the security of confidential discussions in a trusting and inviting environment. Many members of family businesses feel alone and these groups end the isolation because those in the group understand that operating a family business brings its unique challenges.
The experiences from those who have been there on topics like working with the family, managing the business and succession are among the areas discussed.