Businesses and the families that own them are each “governed” by a structure and set of rules. Often, that structure is informal and the rules unwritten, vague and inconsistently applied. This creates a virtual breeding ground for miscommunication, conflict and perceived (and actual) unfairness. Our clients have found that investing the time and energy to develop a more formal and intentional approach to governance pays huge dividends on many levels. While such a process is not painless, it is necessary, particularly as the size of the business and the family grows. This process should start as soon as siblings are actively involved in the business. It is imperative that a solid governance system be in place once cousins are involved. Governing the “Cousin Consortium” is often one of a company’s biggest challenges and threat to continued viability.