Think back over the last few financial discussions you had in your home. When did they occur? Where did they occur? Who was present? What was going on? The same questions apply to any sensitive topic in your home: children, intimacy, in-laws, or religion.
For most of us, we usually discuss such topics during a commercial on TV or between rounds with the children. We don’t put a lot of thought or effort into scheduling time to discuss matters of importance like our mortgage, our retirement, and most importantly our family relations. When was the last time you scheduled time just to spend with your spouse?
There are four time systems or chunks in every family:
- Focus. This is your busy time; shopping, laundry, cooking, working, playing, and errands etc.
- Present Tense Parenting. This is where you are present with a child. Bedtime, dinnertime, homework, special evening, or personal interviews.
- Rejuvenation. This is where you recharge your batteries. Often overlooked and underutilized.
- Preparation. The most important chunk of time in your schedule. It takes the least amount of time, but the most amount of energy and discipline. This is your BOD meeting.
Successful people often cite one of their secrets to success as the ability to delegate. They know how to delegate both time and money, for example: when they want to discuss the future of their business they summon a Board of Directors meeting. They have an agenda that is strictly followed.
Those participating are not there for self-aggrandizement but to promote the welfare of the business. In other words, they are not there to show they are right but to determine what is right for the business.
It’s not WHO is right but WHAT is right.
After a healthy discussion (conflict, which is critical to growth) the board embarks upon a plan where they delegate rules to the business. A Board of Director’s meeting is designed to give you the best opportunity for success.
Most couples choose to avoid areas of conflict. This is a position of contention. Conflict avoidance is not the same as conflict resolution. Holding a BOD meeting provides you a safe place to discuss money and family issues without the negative emotion normally associated with such topics.