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SMI 7-STEP FAMILY GOVERNANCE FRAMEWORK

Step 1: Family Vision
 

What Is It?

The Family Vision defines the future your family desires to create together. It serves as a guiding picture of what success looks like for future generations.
 

A vision answers the question:

"What kind of family do we want to become?"
 

Without a shared vision, family members often pursue individual goals without a unifying direction. A clear vision creates alignment and helps every generation understand the larger purpose they are helping to build.
 

Outcome
 

Families gain:

  • A clear long-term direction.

  • A shared understanding of success.

  • Greater unity around future goals.

  • Increased motivation and commitment.

  • A decision-making filter for future opportunities and challenges.

The Family Vision defines the future your family desires to create together. It serves as a guiding picture of what success looks like for future generations.

​

A vision answers the question:

"What kind of family do we want to become?"

​

Without a shared vision, family members often pursue individual goals without a unifying direction. A clear vision creates alignment and helps every generation understand the larger purpose they are helping to build.

 

Outcome

Families gain:

  • A clear long-term direction.

  • A shared understanding of success.

  • Greater unity around future goals.

  • Increased motivation and commitment.

  • A decision-making filter for future opportunities and challenges.

Step 2: Family Values
 
What Is It?
 

Family Values establish the principles that guide behavior, relationships, decisions, and expectations.


Values answer the question:

"What standards will govern how we live, lead, and relate to one another?"

Values become the cultural foundation of the family and provide consistency across generations.


Outcome

Families gain:

  • Greater behavioral consistency.

  • Stronger family culture.

  • Clear expectations for conduct.

  • Improved trust and accountability.

  • A framework for resolving conflict and making decisions.


Values help ensure that future generations inherit not only assets, but also the character and principles necessary to steward them responsibly.

Step 3: Family Mission
 

What Is It?
 

The Family Mission defines the family's purpose and reason for existence.
 

It answers the question:

"Why does our family exist, and what are we committed to accomplishing together?"

While vision describes the future, the mission defines the family's present calling and contribution.


Outcome

Families gain:

  • A shared sense of purpose.

  • Greater intentionality in family decisions.

  • Alignment between family activities and long-term goals.

  • Increased engagement across generations.

  • A deeper understanding of the family's contribution to society and future generations.


A mission helps transform a family from a collection of individuals into a unified enterprise with a common purpose.

Step 4: Roles and Responsibilities
 

What Is It?
 

Every healthy organization functions because individuals understand their responsibilities. Families are no different.
 

This step defines expectations, responsibilities, and areas of accountability for family members.


It answers the question:

"Who is responsible for what?"

Clear roles eliminate confusion and create a healthier environment for leadership development and participation.


Outcome

Families gain:

  • Increased accountability.

  • Reduced misunderstandings.

  • Greater ownership among family members.

  • Improved leadership development.

  • Clear pathways for contribution and participation.


Family members understand how they can support the family's vision and mission according to their abilities, experience, and stage of life.

Step 5: Communication Structure
 

What Is It?
 

Communication is often the most overlooked aspect of family governance.
 

This step establishes the systems and processes through which family members communicate, share information, address concerns, and make decisions.
 

It answers the question:

"How will we communicate and work together?"

Rather than relying on sporadic conversations or crisis-driven discussions, families develop intentional communication practices.


Outcome

Families gain:

  • Improved communication.

  • Stronger relationships.

  • Reduced conflict.

  • Greater transparency.

  • More effective decision-making.

  • Increased trust among family members.


Families often implement regular meetings, family councils, decision-making protocols, and conflict resolution processes that strengthen long-term unity.

Step 6: Succession Planning
 

What Is It?
 

Succession Planning prepares future leaders and ensures continuity during periods of transition.


It answers the question:

"Who will lead next, and how will they be prepared?"


Many families delay succession conversations until a crisis occurs. This step creates a proactive process for identifying, developing, and preparing future leaders.
 

Outcome

Families gain:

  • Leadership continuity.

  • Reduced uncertainty during transitions.

  • Greater confidence among future leaders.

  • Knowledge transfer across generations.

  • Stronger long-term stability.


Succession planning helps preserve momentum, minimize disruption, and ensure that leadership transitions occur with intentionality rather than urgency.

Step 7: Legacy Preservation
 

What Is It?

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Legacy Preservation focuses on protecting and transmitting the family's values, wisdom, history, purpose, and assets to future generations.

 

It answers the question:

"What do we want future generations to inherit and continue?"

 

True legacy extends beyond financial wealth. It includes culture, character, knowledge, traditions, and stewardship principles.

 

Outcome

Families gain:

  • A documented family legacy.

  • Greater continuity across generations.

  • Preservation of family history and wisdom.

  • Stronger stewardship culture.

  • Increased likelihood of sustaining family unity and purpose over time.

 

Families create systems that ensure future generations inherit not only resources, but also the wisdom necessary to preserve and multiply them responsibly.

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