Creating a Shared Vision
A shared ownership vision is more than a statement on a wall. It’s a practical compass that helps families decide why they own together, what success looks like for them as owners (not just as a company), and how they’ll make decisions when perspectives differ.
This article expands on the episode by adding a step-by-step process for drafting your ownership vision, a curated set of reflection questions you can use right away, and a clear explanation of decision-making approaches (majority, consensus, unanimity). It also shows how tools like a simple RACI map can turn principles into day-to-day clarity for owners, boards, and management.
Why start with a shared ownership vision?
Your ownership vision sits above strategy. It answers three anchor questions:
Why are we in business together as a family?
What does success look like for us as owners?
What impact do we want our ownership to have on our family, our people, and our community?
When this intent is explicit, owners can hold any proposal up to the light and ask: “Does this move us closer to our stated vision?” That shift—from “my view vs your view” to “does this serve our vision?”—is what transforms meetings from debate into direction.
How to create a shared ownership vision (practical, step-by-step)
1) Begin with the individual.
Invite each current (and prospective) owner to reflect privately first. Without personal clarity, the group work stalls.
Prompts you can use:
What does fulfilment look like for me—inside and outside the business?
What role do I want the business to play in my life over the next 10 years?
What would success as an owner feel like (not just look like) for me?
2) Share and listen (before you wordsmith).
Come together to surface themes. Aim to understand, not persuade. Capture overlaps and respectful differences. Differences aren’t flaws; they often enrich the vision.
3) Name what ownership is for.
Is your centre of gravity stewardship, entrepreneurship, investment—or a blend?
Prompts:
How should ownership create opportunity for the next generation?
What responsibilities do we accept toward employees and community?
In what ways should ownership support harmony and flourishing in the family?
4) Draft it—human, plain, short.
Two sentences can be enough. Example:
“As a family, we own this business to create opportunity, stability, and positive impact across generations.”
5) Define your terms.
Take five minutes to unpack key words in the statement.
“Family”: who exactly does this include?
“Opportunity”: for whom, and how will we know we’re creating it?
“Positive impact”: in which domains (people, planet, place), and how will we evidence it?
This small discipline avoids future ambiguity.
6) Test and refine.
Bring the statement into live discussions—strategy, governance, investment, dividends. If it clarifies choices and calms debate, you’re on track. Adjust language as you learn.
7) Review at natural inflection points.
Visions aren’t carved in stone. Revisit at ownership transitions, every few years, or when new voices join the table. Ensure the next generation can see themselves in it.
Questions to guide the work (use a few at a time)
Pick the two or three most relevant for your next conversation; don’t try to do them all in one sitting.
For individual reflection
What role (if any) do I want in operations, governance, or purely as a supportive owner?
What are my hopes and worries about being in the ownership group?
How could ownership best support the life I want beyond work?
For the ownership group
Given our reasons for owning together, what outcomes do we want ownership to deliver in the next 10 years?
Where do we need uniformity (non-negotiables), and where can we allow variety (different roles/paths)?
How will we communicate the vision to non-operating owners, the management team, and the rising generation?
To test & apply the vision
Which upcoming decision can we run through the lens: “Does this move us closer to the vision we agreed?”
What measures (not just financial) would show we’re living our ownership vision?
From vision to everyday clarity: decision rights and RACI
Once the vision is clear, translate it into who decides what—and how.
A light-touch RACI map is a simple way to avoid confusion:
R – Responsible: who does the work
A – Accountable: who owns the decision / is answerable for the outcome
C – Consulted: whose input is sought before the decision
I – Informed: who should be told after the decision
Illustrative example – capital expenditure (CapEx):
Up to £250k: Management R/A; Board C; Owners I
Above £250k: Management R; Board C; Owners A (formal approval)
Adjust thresholds to your context and risk appetite. The point is to codify expectations so owners stay focused on direction and stewardship, while management has room to manage.
How owners make decisions: majority, consensus, unanimity
Different decisions call for different methods. Many families adopt a tiered approach.
Majority
What it is: More than half agree and the motion passes.
Pros: Quick, efficient, clear.
Risks: Can leave minority feeling overruled if used for high-impact issues.
Use for: Routine ownership matters (standard approvals, timetable changes).
Consensus
What it is: Everyone can support—or at least live with—the decision.
Pros: Builds unity and long-term commitment.
Risks: Takes longer; needs facilitation to avoid drift.
Use for: Strategic or directional choices (ownership vision, dividend policy).
Unanimity
What it is: Every owner must agree; one “no” blocks it.
Pros: Protects minority voices on existential issues.
Risks: Can cause gridlock if trust is low.
Use for: Rare, high-stakes matters (sale of the business, changes to family charter or ownership structure).
Link it back to the vision. Whatever method you choose, frame the conversation around the question:
“Which option best advances our ownership vision?”
That reframes disagreements from personal preference to shared purpose.
Bringing it all together
Vision clarifies why you own together and what you’re aiming to create.
Mission spells out what you’re doing now to move toward that future.
Values define how you behave as you go—especially when it’s hard.
Together, these provide owners with a north star, management with legitimacy and direction, and the family with a shared language that outlasts any single leader.
Try this next week
Ask each owner to write short answers to:
“Why are we in business together as a family?”
“What role do I want the business to play in my life over the next 10 years?”
Host a 60–90 minute conversation to surface themes and draft two sentences of a vision.
Choose one upcoming decision and test it against the draft vision. Note what became clearer.
Resources and next steps
Listen to the episode that accompanies this article
Free self-assessment across the Ten Principles: available via the button at the bottom of this post.
- Ownership Masterclass – 2 December
Designed for families and ownership groups, with a special focus for UK firms considering transfers before April 2026. We’ll cover ownership vision, roles, decision rights, and transition planning aligned to purpose and values.
Details and registration: Here:
If you’d like support facilitating your ownership vision conversation or mapping decision rights, you can get in touch here Russ@familybusinesspartnership.com.
