The Family Business Podcast: Recent Episodes
Russ Haworth
The podcast dedicated to Family Business. Working with your family can be both rewarding and challenging and this podcast provides you with practical tips and guidance on how to tackle some of these challenges.
Check out the series on Governance, Succession, Family Dynamics and Family Business Theory. Each week we will explore the uniqueness of family businesses and provide you with the tools to help your business thrive.
A Conversation with Jay Hughes and Martin Stepek
This episode is one of the most profound and far-reaching conversations we have ever shared on The Family Business Podcast. Joined by the legendary James E. Hughes Jr. and my colleague Martin Stepek, we explore the idea that wealth, at its deepest level, has always meant wellbeing, and that wellbeing itself is a powerful form of wealth.
What follows is a conversation that ranges widely yet remains grounded and practical. We delve into the origins of the word wealth, the anthropology of thriving families, the nature of aspiration and spiritual capital, and the lived realities of generational transition. Jay brings six decades of experience advising families worldwide, while Martin offers a deeply personal perspective from growing up in a complex multigenerational enterprise. Together, the conversation becomes a rare blend of wisdom, honesty, and humanity.
Across the hour, we discuss themes that lie at the heart of flourishing family enterprises:
• Why the original meaning of wealth still matters today
• How families can create environments where wellbeing is treated as a core asset
• The importance of joint decision-making and the shift required when a founder’s energy becomes a family system
• The five capitals and why financial capital is the least powerful without the others
• Welcoming, lineage, and the conditions that encourage rising generations to stay engaged
• How families can cultivate a culture of care, curiosity, and responsibility
• Why plays, not plans, may offer a better way to think about the future
This conversation is not technical. It is not formulaic. It is an exploration of what it means for families to thrive across generations, delivered with clarity, compassion, and occasionally breathtaking insight.
If you advise families, lead a family enterprise, or are part of one, this episode offers a chance to step back and reflect on the deeper forces that shape continuity, connection, and fulfilment. It is a reminder that family enterprise is, at its essence, a human endeavour.
A must-listen for anyone seeking to understand the true nature of wealth and the foundations of long-term family flourishing.
SummaryIn this episode of the show I bring together what we have covered in the series so far. We further explore the concept of Empowered Ownership, emphasising its distinction from authority and the importance of clarity in decision-making.
It highlights how aligned ownership can lead to successful governance and family relationships, while misaligned ownership poses risks to continuity.
Ownership Masterclass
On the 2nd December I am hosting an online Masterclass exploring the topic of Empowered Ownership in which we'll cover the key aspects discussed in this series in greater depth with the opportunity to ask questions.
By the end of the session, you’ll leave with:
- A Pre-Gift Conversation Checklist – what to discuss, and what’s too important to skip
- A clear conversation model to bring structure and confidence to potentially awkward discussions
- Language and framing tools that keep dialogue constructive, not confrontational
- A method to align expectations across generations without creating false harmony
- Confidence that your family is genuinely on the same page
Sign up for the Masterclass here:
https://www.bhavana.familybusinesspartnership.com/p/Ownership
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Summary
In this episode, Russ Haworth discusses the importance of ownership in business strategy and the need for clear roles and alignment among owners. He emphasizes the significance of preparing future generations for ownership and ensuring healthy relationships with management teams.
Links
The Four Room Model - https://banyan.global/spotlight/the-four-room-model/
Episode with John Davis discussing The Three Circle Model - https://fambizpodcast.com/episode43/
Assessment - https://familybusinessassessment.scoreapp.com
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
Summary
In this conversation, Russ Haworth explores the intricate relationship between family values and the underlying needs that drive them. He emphasises that when families disagree over values, they are often expressing unmet or conflicting needs.
For instance, valuing loyalty may indicate a need for security, while valuing freedom may reflect a desire for autonomy. This understanding can transform family dynamics and improve communication.
Takeaways
When you say you value loyalty, you're expressing a need for security.
Valuing freedom indicates a need for autonomy.
Disagreements over values often stem from unmet needs.
A founder's value of hard work may hide a need for control.
Next-gen family members may value creativity for self-expression.
Understanding these needs can change family conversations.
Neither perspective is wrong; they reflect different positions.
Values are often a reflection of deeper needs.
Communication improves when we understand underlying needs.
Recognising generational differences can enhance family dynamics.
Article Links
- Matt Wesley
- Dennis Jaffe
Assessment and Blog Links
- Assessment
- Blog
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
SummaryIn this conversation, Russ Haworth discusses the complexities of shared ownership in family businesses, emphasising the importance of individual fulfillment and the need for a collective vision that respects diverse goals. He highlights that alignment in ownership does not require uniformity, but rather a common understanding of how the business can support each family member's aspirations.
Takeaways
Families often feel pressured to have the same dreams or goals.
Alignment in ownership does not mean identical understanding.
Respecting individual fulfilment is crucial for collective success.
A clear ownership vision helps guide family businesses.
Finding common ground is essential for effective collaboration.
Individual aspirations can contribute to a stronger collective vision.
Legacy creation is a key aspect of shared ownership.
Honest conversations about fulfillment lead to better outcomes.
Diversity in goals can enhance business support.
Shared ownership requires ongoing dialogue and understanding.
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
To join our Ownership Masterclass - Register here: https://www.bhavana.familybusinesspartnership.com/p/Ownership
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
Summary
In this episode of the Family Business Podcast, Russ Haworth delves into the concept of empowered ownership, emphasising its significance as a foundational principle for family businesses. He discusses the rights, roles, and responsibilities that come with ownership, and how clarity in these areas can lead to more constructive conversations and better decision-making within families. The episode encourages families to explore their understanding of ownership and its implications for their business and personal fulfilment.
Takeaways
- Empowered ownership is about understanding rights, roles, and responsibilities.
- Clarity in ownership leads to constructive conversations.
- Ownership discussions should happen proactively, not just at transition points.
- Understanding ownership can alleviate feelings of burden and overwhelm.
- Fulfillment is a key measure of success in family business ownership.
- Ownership is often an outcome of passion, not the original goal.
- Families should explore what ownership means to them collectively.
- Empowered ownership fosters strategic decision-making and stability.
- Conversations about ownership can unlock significant value for families.
- Reflecting on ownership can lead to a more fulfilling family business experience.
Chapters
00:00 Introduction to Empowered Ownership
01:27 Understanding Empowered Ownership
05:31 The Importance of Clarity in Ownership
08:12 Challenges of Discussing Ownership
11:26 Exploring Ownership in Family Business
15:42 The Role of Fulfilment in Ownership
17:36 Conclusion and Next Steps
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
SummaryIn this episode, Russ Haworth introduces a new direction for the Family Business podcast, focusing on real conversations with families rather than interviews with external guests. He emphasizes the importance of relationships, responsibilities, and legacy in family businesses, advocating for a flourishing life both personally and professionally.
The episode outlines the three pillars of mindset, behaviour, and knowledge, and introduces The Ten Principles of Flourishing that will be explored in future episodes, starting with empowered ownership.
Chapters02:58 Shifting Focus: From Interviews to Real Conversations
04:44 The Concept of Flourishing in Family Business
07:45 Mindset, Behaviour, and Knowledge: The Three Pillars
10:18 Introducing the 10 Principles of Flourishing
15:43 Deep Dive into Empowered Ownership and Future Topics
You can access the Assessment here
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
In this episode of The Family Business Podcast, we explore two closely connected ideas from the Eightfold Path: Right Mindfulness and Right Concentration — or what we might now call focus.
Mindfulness, when taught well, is a powerful three-part skill: notice, pause, change. It allows us to catch unhelpful thoughts or reactions before they spiral, giving us the space to shift into a wiser frame of mind. But Martin also highlights a crucial point — mindfulness isn’t just about being aware. It’s about being aware skilfully.
Alongside this is the practice of Right Concentration — the ability to hold your attention where it matters, without being pulled off course by distraction, fatigue, or emotion. Together, these two skills help us stay steady — whether we're in a boardroom, around the dinner table, or navigating life’s daily ups and downs.
In a world of constant interruption and overstimulation, this conversation is a grounding one — especially for those in family businesses, where clarity of mind can be the difference between reactivity and wise leadership.
Key Topics:
- Why mindfulness is more than just “being present”
- The three-step method: Notice, Pause, Change
- How to stay focused in a world full of noise
- The difference between casual awareness and skilful attention
- Practical tools to reduce mental clutter and strengthen concentration
Want to explore this further?
The Path is a mindfulness-based programme designed specifically for those in or advising family businesses. It offers practical guidance grounded in ancient wisdom, helping you build clarity, resilience, and better decision-making.
Learn more at https://familybusinesspartnership.com/thepath/
In this episode of The Family Business Podcast, we take a closer look at Right Effort — a reminder that meaningful change doesn’t happen by chance, and it doesn’t happen overnight.
Drawing from the Buddhist tradition, Martin explains that the word “Right” here means skilful. Skilful effort is steady, thoughtful, and sustainable. It isn’t about perfection or pushing yourself to exhaustion — but nor is it about giving up when things get hard.
Changing the way we think, respond, and behave — especially in the face of stress, family dynamics, or business pressures — takes practice. And that practice requires a particular kind of energy: one rooted in care, persistence, and balance.
This episode is especially useful for those who feel they’re “trying” to live or lead differently but aren’t seeing instant results. It’s a reminder that the path to clarity, kindness, and effectiveness is built one step — and one skilful effort — at a time.
Key Topics:
- What “Right Effort” really means — and why it’s not about striving
- How to avoid burnout while still committing to meaningful change
- Why mindfulness requires consistent practice to take root
- The role of patience, persistence, and balance in both personal growth and leadership
- Practical guidance for cultivating sustainable effort in work and life
Want to explore this further?
The Path is our unique mindfulness-based programme designed for those in or advising family businesses. It blends timeless wisdom with practical tools to help you live and lead with clarity and purpose.
Find out more at https://familybusinesspartnership.com/thepath/
In this episode of The Family Business Podcast, we explore Right Livelihood — a concept that feels strikingly modern, despite being taught by the Buddha over 2,500 years ago.
Today we hear terms like purpose-driven business, CSR, or ESG, but the heart of the idea is timeless: how we make our living matters. Not just in terms of profit, but in terms of integrity, impact, and alignment with our values.
Martin reflects on the Buddha’s surprisingly direct teachings to rulers, employers, and workers alike, encouraging them to avoid livelihoods that cause harm, and to pursue work that contributes positively to society.
And if we find ourselves in a role that compromises our values? The Buddha advised making amends through good deeds and conscious reflection.
For anyone in a family business, this teaching is especially resonant. How we earn, invest, and lead shapes more than just the bottom line, it shapes the legacy we leave behind. Right Livelihood is about asking not just how successful are we?, but what are we actually contributing through our work?
To find out more about The Path visit - https://familybusinesspartnership.com/thepath/
In this episode of The Family Business Podcast, we turn our attention to Right Action, one of the eight elements of the Eightfold Path, and a powerful lens through which to view our choices, habits, and impact on others.
But what does “Right” really mean? As Martin explains, it's not about being perfect or morally superior. It’s about being skilful. Making choices that are wise, kind, and constructive, even in the face of stress, pressure, or uncertainty.
Drawing on the core lessons within the Four Noble Truths, we look at how much of our unhappiness comes not from what happens to us, but from how we respond. And one of the most important responses we can cultivate is through action, what we do, how we do it, and why we do it.
This episode is particularly relevant for those working in or with family businesses, where every action, from leadership decisions to daily conversations, can ripple through the whole system. Mindfulness gives us the space to act with clarity, not just urgency. And that can be the difference between reactions that escalate tension, and actions that build trust and understanding.
To find out more about The Path visit - https://familybusinesspartnership.com/thepath/
Certainly. Here's a refreshed episode title and updated show notes that reflect the focus on communication while staying true to the content and tone of The Path:
🎧 New Episode Title:"The Lost Art of Listening: Mindful Communication in a Noisy World"
Show Notes:In this re-released episode of The Family Business Podcast, we explore how mindfulness can radically improve the way we communicate — at home, at work, and within our families.
Drawing on the teachings of the Buddha and the foundational principles of The Path, Martin Stepek introduces two practical and transformative skills: mindful listening and conscious breathing. These are not abstract ideas — they are everyday tools that can prevent unnecessary conflict, deepen trust, and help us respond with thoughtfulness rather than react out of habit.
Martin begins by unpacking one of the most overlooked aspects of communication: the tendency to only half-listen. He explains how we often prepare our responses while someone else is still speaking — which means we miss their meaning entirely. With mindfulness, we can train ourselves to truly listen, to pause, and to respond with clarity and care.
We also look at the role of the breath, not just as a tool for relaxation, but as a reliable way to regulate emotion in real time. Whether it’s irritation in a meeting or tension at home, using the breath as a mental reset can prevent needless arguments and foster wiser, calmer exchanges.
Together, these two skills form the basis of what the Buddhist tradition calls “Right Speech”, communication that is considered, kind, and constructive. In a world of fast replies and constant distraction, they’re more important than ever.
If you're interested in taking these ideas further, explore The Path — our practical mindfulness programme designed specifically for those working in or with family-owned businesses.
Find out more about The Path here: https://familybusinesspartnership.com/thepath/
Right Intention: Skilful Thinking for a Better Life
In this episode, we take a closer look at one of the eight elements of the Eightfold Path — Right Intentions, sometimes called Right Thoughts.
The word “Right” here does not mean morally superior or correct in a rigid sense. It is better understood as skilful or wise. This matters because the quality of our thoughts shapes the quality of our lives.
Martin and I explore how our automatic thinking often leads to poor decisions, unnecessary stress, and reactive behaviour. By learning to notice and guide our thoughts more skilfully, we can reduce suffering and increase our clarity. This is not about controlling every thought, but about cultivating an approach to thinking that is more deliberate, more compassionate, and more constructive.
To learn more about The Path, our unique programme for individuals and families in business, visit:
https://familybusinesspartnership.com/thepath/
If you would like to get in touch, you can email me at russ@familybusinesspartnership.com
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
In this look at the Four Noble Truths, we turn to the most practical element — the path forward.
The Fourth Noble Truth teaches that if we want to reduce suffering and build a more peaceful life, we need to develop certain skills. These are not abstract ideas, but habits of mind and behaviour that can be cultivated through deliberate effort. This is what the Buddha’s Eightfold Path offers.
Each part of the Eightfold Path begins with the word “Right.” Here, “Right” is best understood as skilful or wise — not moralistic or correct in an absolute sense. These eight areas are:
- Right Understanding
- Right Intentions or Thought
- Right Speech or Communication
- Right Actions
- Right Livelihood
- Right Effort
- Right Mindfulness
- Right Concentration or Focus
Together, they offer a practical framework for living with greater awareness, integrity and clarity — qualities that matter just as much in business and family life as they do in personal reflection.
To learn more about The Path, our unique programme for individuals and families in business, visit:
https://familybusinesspartnership.com/thepath/
If you would like to speak with us or ask any questions, feel free to email me at russ@familybusinesspartnership.com
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
The Third Noble Truth: The End of Suffering
In this episode, we continue our series on the Four Noble Truths by exploring the Third — the truth that suffering can end.
The Buddha taught that while life involves dissatisfaction and struggle, it does not have to stay that way. When we learn to understand and reduce the “thirsts” — the cravings and aversions that drive our reactions — we begin to create space for peace of mind. This is not about denying life’s challenges, but about changing how we relate to them.
Martin and I talk about how we can all develop simple but powerful skills that help us suffer less, even in difficult moments. These teachings are not abstract ideas, but practical tools for daily life — at home, at work, and in our relationships.
To learn more about The Path, our unique programme for individuals and families in business, visit:
https://familybusinesspartnership.com/thepath/
If you have any questions or would like to speak with us directly, you can email me at russ@familybusinesspartnership.com
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
The Second Noble Truth: The Cause of Suffering
This episode continues our exploration of the Buddha’s core teachings, looking closely at the Second Noble Truth. While the Four Noble Truths and the Eightfold Path are ancient concepts, they remain powerful tools for understanding modern life.
The Second Noble Truth teaches that much of our dissatisfaction and suffering comes not just from what happens to us, but from how our minds respond. When life doesn’t go the way we hoped, or when we lose something we value, the mind reacts. The Buddha called these reactions “thirsts” — our cravings for things to be different from how they are.
Together, Martin and I discuss how this understanding can help us take a different view of challenges and setbacks. Rather than blaming ourselves or others, we can begin to notice our inner reactions more clearly. That awareness gives us real choice.
To learn more about The Path, our unique programme for individuals and families in business, visit:
https://familybusinesspartnership.com/thepath/
If you would like to get in touch, you can email me at russ@familybusinesspartnership.com
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
The Four Noble Truths: Understanding the First Step
In this episode, Martin and I begin our exploration of one of the most enduring teachings in mindfulness and Buddhism: The Four Noble Truths. These are not abstract religious ideas, but practical insights into how we might live with greater awareness and less unnecessary suffering.
We start with the First Noble Truth. This teaches that life, by its nature, includes dissatisfaction, frustration and, at times, suffering. At first glance, that might not sound too uplifting. But as we explore it together, you’ll see why recognising this truth is actually the beginning of something hopeful and empowering.
This conversation offers a fresh way to think about everyday challenges, whether at home, at work or within yourself.
To learn more about The Path, our unique programme for individuals and families in business, visit:
https://familybusinesspartnership.com/thepath/
If you have questions or would like to connect, you can email me directly at russ@familybusinesspartnership.com
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
Summary
In this episode of the Family Business Podcast, Russ Haworth, Martin Stepek, and Alec Broadhurst discuss the intersection of mindfulness and family business dynamics.
They explore personal journeys into mindfulness, the Four Noble Truths, and the Eightfold Path, emphasizing the importance of understanding emotional challenges within family businesses. The conversation highlights the value of mindfulness as a tool for improving family relationships and decision-making processes in business contexts.
The hosts also introduce a new program, The Path, designed to help families navigate the complexities of working together.
Takeaways
- Mindfulness can significantly improve family business dynamics.
- The Four Noble Truths provide a framework for understanding suffering in life.
- Practicing mindfulness is a lifelong journey that requires effort.
- Effective communication is crucial in family businesses.
- Understanding emotional challenges can lead to better decision-making.
- Mindfulness helps in recognising and managing stress.
- The Eightfold Path offers practical guidance for living mindfully.
- Family businesses often face unique challenges that mindfulness can help address.
- Personal growth through mindfulness can enhance family relationships.
- The Path program aims to provide tools for navigating family business complexities.
Find out more about The Path by heading to https://familybusinesspartnership.com/thepath
Summary
In this episode of the Family Business Podcast, Russ Haworth speaks with Annamaria Koerling, founding partner of Delfin Private Office, about the evolving landscape of family offices. They discuss the importance of governance, the unique challenges of succession planning, and the role of philanthropy in fostering family cohesion. Annamaria emphasises the need for tailored governance structures that reflect each family's values and purpose, and the significance of deliberate practice in maintaining open communication. The conversation also highlights the benefits of involving external advisors to navigate complex family dynamics and ensure effective decision-making.
Takeaways
Family offices provide comprehensive services to manage wealth across generations.
Governance structures are critical for the success of family offices.
Each family office is unique, requiring tailored governance solutions.
Succession planning is a major concern for family offices.
Philanthropy can enhance family cohesion and engagement.
Deliberate practice in family conversations is essential for success.
External advisors can provide valuable perspectives and support.
Effective communication of values and purpose is crucial for families.
Families should consider the impact of relocation on their operations.
Creating a family bank can promote entrepreneurial spirit among family members.
Chapters
00:00 Introduction to Family Offices
03:03 The Importance of Governance in Family Offices
06:00 Tailoring Governance to Family Uniqueness
09:04 Critical Governance Considerations for Family Offices
12:01 Impact of Relocation on Family Office Operations
15:11 Succession Planning and Next Generation Involvement
17:58 Promoting Entrepreneurial Spirit in the Next Generation
20:51 The Role of Philanthropy in Family Cohesion
25:00 Deliberate Practice in Family Conversations
27:53 The Value of External Advisors in Family Governance
Mentioned in this episode:
The Path
If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath
Summary
Cathy Carroll, author of 'Hug of War', discusses the unique challenges of leading a family business with both love and logic. She explores the concept of polarities in family businesses, where opposing forces such as candor and diplomacy, or reveal and conceal, coexist and create tension.
Cathy emphasizes the importance of adopting a 'both-and' mindset to find innovative solutions that incorporate the benefits of both sides. She also addresses the issues of domain crossover, where power is used in one domain to influence the other, and shadow influence, where individuals without formal roles or ownership wield significant power within the business.
In this conversation, Cathy Carroll discusses the concept of shadow influence and how it can impact leadership in a family business. She shares examples of shadow influence, both positive and negative, and emphasizes the importance of understanding and managing polarities in a family business. Cathy also highlights the challenges and opportunities of the family mindset in succession planning and the value of constructive conflict in navigating family business dynamics.
Takeaways
Family businesses face unique challenges due to the coexistence of opposing forces or polarities.
Adopting a 'both-and' mindset allows for innovative solutions that incorporate the benefits of both sides of a polarity.
Domain crossover occurs when power is used in one domain to influence the other, which can create tension and unfairness.
Shadow influence refers to individuals without formal roles or ownership who wield significant power within the business.
Recognizing and addressing these dynamics is crucial for effective leadership in family businesses. Shadow influence can have a significant impact on leadership in a family business, whether it is hidden or transparent.
Understanding and managing polarities is crucial in a family business, as they can create both challenges and opportunities.
The family mindset plays a role in succession planning, and it is important to navigate the tensions between the leading and rising generations.
Constructive conflict is essential in a family business, as it allows for the exploration of different ideas and perspectives.
Engaging in brave conversations and addressing conflict in a productive way can lead to better outcomes in a family business.
You can buy the book here: https://www.legacyonward.com/hug-of-war
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Summary
Cathy Carroll, author of 'Hug of War', discusses the unique challenges of leading a family business with both love and logic. She explores the concept of polarities in family businesses, where opposing forces such as candor and diplomacy, or reveal and conceal, coexist and create tension.
Cathy emphasizes the importance of adopting a 'both-and' mindset to find innovative solutions that incorporate the benefits of both sides. She also addresses the issues of domain crossover, where power is used in one domain to influence the other, and shadow influence, where individuals without formal roles or ownership wield significant power within the business.
In this conversation, Cathy Carroll discusses the concept of shadow influence and how it can impact leadership in a family business. She shares examples of shadow influence, both positive and negative, and emphasizes the importance of understanding and managing polarities in a family business. Cathy also highlights the challenges and opportunities of the family mindset in succession planning and the value of constructive conflict in navigating family business dynamics.
Takeaways
Family businesses face unique challenges due to the coexistence of opposing forces or polarities.
Adopting a 'both-and' mindset allows for innovative solutions that incorporate the benefits of both sides of a polarity.
Domain crossover occurs when power is used in one domain to influence the other, which can create tension and unfairness.
Shadow influence refers to individuals without formal roles or ownership who wield significant power within the business.
Recognizing and addressing these dynamics is crucial for effective leadership in family businesses. Shadow influence can have a significant impact on leadership in a family business, whether it is hidden or transparent.
Understanding and managing polarities is crucial in a family business, as they can create both challenges and opportunities.
The family mindset plays a role in succession planning, and it is important to navigate the tensions between the leading and rising generations.
Constructive conflict is essential in a family business, as it allows for the exploration of different ideas and perspectives.
Engaging in brave conversations and addressing conflict in a productive way can lead to better outcomes in a family business.
You can buy the book here: https://www.legacyonward.com/hug-of-war
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Summary
In this episode of the Family Business podcast, Tom McCullough and Keith Whitaker discuss their book, The Wealth of Wisdom. They share their backgrounds and how they came to collaborate on the book. The second version of the book focuses on providing practical tools and exercises for families to enhance their communication and address important topics. One chapter highlights a family self-assessment tool that helps families evaluate their situation and identify areas for improvement. Another chapter introduces a three-step process for enhanced communication, which can be used by couples or siblings to address differences and find common ground. The book is accessible to multiple generations and encourages open dialogue within families. The conversation explores the themes and family discussions, the power of framing issues, generational collaboration in philanthropy, intergenerational dialogue, and the simplicity of tools for productive conversations.
Takeaways
The Wealth of Wisdom provides practical tools and exercises for families to enhance their communication and address important topics.
The book includes a family self-assessment tool that helps families evaluate their situation and identify areas for improvement.
A three-step process for enhanced communication is introduced, which can be used by couples or siblings to address differences and find common ground.
The book is accessible to multiple generations and encourages open dialogue within families.
Chapters
00:00 Introduction and Background
09:19 Collaboration on the Book
16:46 Approach to the Second Book
27:14 Chapter on Family Self-Assessment Tool
37:57 Chapter on Three-Step Process for Enhanced Communication
46:18 Accessibility for Multiple Generations
48:21 Subversive Books and Family Discussions
49:22 The Power of Framing Issues
50:50 Generational Collaboration in Philanthropy
54:15 Intergenerational Dialogue
59:31 Simplicity of Tools for Productive Conversations
01:00:29 Clarification on the Books
Summary
In this episode, Dave Goetz and Melissa Parks discuss the importance of capturing and sharing family stories. They highlight the reasons why families choose to tell their stories, such as passing on values and creating a family culture. The guests emphasize the need for families to identify their purpose and why before embarking on a storytelling project. They also discuss different types of family stories, including founder stories and multi-generational stories. The guests explore the concept of voice in storytelling and the importance of selecting the right format for capturing the family story. They also address the challenges of navigating different versions of the same story and the rules and considerations for sharing family stories. In this conversation, Dave Goetz and Melissa Mitchell-Blitch discuss the importance of family stories and how to capture and preserve them. They emphasize the need for hope and tension in storytelling, as well as the importance of protecting identities in family stories. They also discuss the time commitment required for family story projects and the value of taking the time to do it right. They highlight the need for support from trusted advisors and professionals in the storytelling process. Overall, they emphasize the significance of capturing family stories to help future generations understand the values of the family.
Takeaways
Capturing and sharing family stories is important for passing on values and creating a family culture.
Families should identify their purpose and why before starting a storytelling project.
Different types of family stories include founder stories and multi-generational stories.
The voice of the family story depends on the chosen format and the desired tone.
Considerations for sharing family stories include obtaining consent from individuals involved and being discerning about which stories to include. Family stories should have a balance of hope and tension to make them compelling.
When telling family stories, it's important to protect the identities of individuals who may not want to be included.
Family story projects typically require a time commitment of nine months to one year.
Taking the time to properly plan and execute a family story project is crucial for creating a meaningful and impactful result.
Finding the right support, such as trusted advisors and professionals, can help ensure the success of a family story project.
Writing a compelling family story can be challenging, and hiring professionals with storytelling expertise can be beneficial.
Trusted advisors who understand the dynamics of family relationships are essential for guiding and supporting family story projects.
To get in touch with Dave and Melissa for assistance with family story projects, visit their website or email them directly.
Chapters
00:00 Introduction
03:00 The Importance of Family Stories
09:05 Reasons for Telling Family Stories
12:25 Identifying the Purpose of Capturing the Family Story
15:20 Different Types of Family Stories
20:43 Determining the Voice of the Family Story
25:22 Exploring Different Formats for Capturing the Family Story
33:49 Navigating Different Versions of the Same Story
41:29 Rules and Considerations for Sharing Family Stories
50:53 The Purpose of Family Stories
51:53 Protecting Identities in Family Stories
53:01 Time Commitment for Family Story Projects
54:39 Taking the Time to Do It Right
56:38 The Value of Capturing Family Stories
57:45 Finding the Right Support for Family Story Projects
59:59 The Difficulty of Writing a Compelling Story
01:02:13 The Importance of Trusted Advisors
01:04:01 How to Get in Touch with Dave and Melissa
Summary
In this episode, Bill Stranberg discusses the readiness of family businesses to hire non-family executives. He shares his own experience growing up in a family business and highlights the distinct challenges that families face in executive recruitment. Bill emphasizes the importance of addressing the readiness of both the family and the business before making a senior executive hire. He provides case studies to illustrate the potential risks and conflicts that can arise when these factors are not considered. Bill also discusses the need for clear job descriptions and expectations to ensure a successful hiring process. This conversation explores the challenges and strategies involved in managing talent in family-owned businesses. The discussion highlights the importance of employee loyalty and the potential neglect of operational hygiene in long-term relationships. It emphasizes the need for clarity in decision-making and cultural fit when bringing in new senior executives. The conversation also addresses the concerns of legacy employees and the importance of incorporating their feedback. Finally, it emphasizes the significance of defining and living the mission, vision, and values of the business.
Takeaways
Assess the readiness of both the family and the business before making a senior executive hire.
Address the unique challenges that family businesses face in executive recruitment.
Include all relevant stakeholders in the decision-making process and ensure clear communication.
Define job responsibilities, success metrics, and compensation to align expectations and reduce the risk of a failed hire. Employee loyalty is a common trait in family-owned businesses, but it can lead to neglect of operational hygiene.
Clarity in decision-making and cultural fit are crucial when bringing in new senior executives.
Legacy employees may feel uncomfortable with new hires and changes in authority.
Creating channels for employee feedback and addressing concerns can help mitigate conflicts.
Defining and living the mission, vision, and values of the business is essential for effective talent management.
Chapters
00:00 Introduction and Background
08:35 When Do Family Businesses Seek Support in Hiring Executives?
16:24 Exploring Readiness to Bring in a Senior Executive
21:21 Helping Families Explore Their Readiness
32:18 Preparing the Business and the Person Being Hired
43:16 The Importance of Clarity and Communication
49:34 Employee Loyalty and Operational Hygiene
51:22 Clarity in Decision-Making and Cultural Fit
52:56 Legacy Employees and New Hires
55:18 Conflict Triangle and Employee Feedback
58:08 Defining Mission, Vision, and Values
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Summary
In this two part episode, the guests discuss the considerations and communication strategies involved in a family business deciding to sell their business. They emphasize the importance of open and proactive communication within the family system, as well as with external shareholders and the C-suite. The guests also highlight the significance of early planning for the post-sale phase, including identifying purpose and impact beyond the business. They stress the need to address potential regrets and ensure a smooth transition to life after the sale. This conversation explores various aspects of transitioning from a family business to a family office. The speakers discuss the importance of understanding one's skills and talents and how they can translate into new domains. They emphasize the need for careful planning and decision-making, as well as the potential challenges of sudden wealth. The speakers also highlight the value of collaboration and a holistic approach, considering both individual and collective philanthropy. They stress the significance of exploring purpose and impact beyond the sale of the business and the importance of capturing family stories and history.
Takeaways
Open and proactive communication is crucial within the family system and with external stakeholders during the decision-making process and after the sale.
Early planning for the post-sale phase, including identifying purpose and impact beyond the business, is essential.
Considerations for each group of stakeholders, such as family members who own the business but don't work in it, should be taken into account.
Avoiding regret of selling the business involves understanding personal goals and needs, planning for the day after the sale, and addressing emotional and financial aspects.
Preparing for life after the sale includes exploring new opportunities, seeking professional advice, and maintaining open-mindedness. Understand your skills and talents and how they can translate into new domains.
Take time to plan and make wise decisions, avoiding impulsive actions.
Consider the merits of earnouts as part of a transition.
Explore individual and collective philanthropy, finding the right balance.
Start early with transition planning and engage in open and honest family conversations.
Blend for-profit and non-profit activities to create a unified approach.
Capture family stories and history to preserve legacy and values.
Chapters
00:00 Introduction and Guest Introductions
04:03 Considerations in Family Discussions Leading to the Decision to Sell
08:24 The Role of Philanthropy and Impact in the Sale Process
11:16 Importance of Communication within the Family System
17:36 Effective Communication with External Shareholders and C-Suite
21:52 Considerations for Each Group of Stakeholders
27:29 Effective Communication Internally and Externally
36:39 Avoiding Regret of Selling the Business
42:21 Preparing for Life After the Sale
52:56 Understanding Skills and Talents
55:31 Transitioning to a Family Office
56:24 Managing Sudden Wealth
57:18 Taking Time to Plan
58:41 Dealing with External Pressure
59:30 Hiring the Right Expertise
01:00:02 Avoiding Impulsive Decisions
01:01:24 The Merits of Earnouts
01:04:01 Exploring What's Next
01:05:02 Collaboration and Holistic Approach
01:08:38 Discovering Purpose and Impact
01:11:15 Balancing Individual and Collective Philanthropy
01:19:36 Transitioning Identity and Purpose
01:23:22 Exploring Family Dynamics
01:29:11 Start Early with Transition Planning
01:32:05 Blending For-Profit and Non-Profit
01:35:29 The Power of Storytelling and Family History
Summary
In this two part episode, the guests discuss the considerations and communication strategies involved in a family business deciding to sell their business. They emphasize the importance of open and proactive communication within the family system, as well as with external shareholders and the C-suite. The guests also¶. They stress the need to address potential regrets and ensure a smooth transition to life after the sale. This conversation explores various aspects of transitioning from a family business to a family office. The speakers discuss the importance of understanding one's skills and talents and how they can translate into new domains. They emphasize the need for careful planning and decision-making, as well as the potential challenges of sudden wealth. The speakers also highlight the value of collaboration and a holistic approach, considering both individual and collective philanthropy. They stress the significance of exploring purpose and impact beyond the sale of the business and the importance of capturing family stories and history.
Takeaways
Open and proactive communication is crucial within the family system and with external stakeholders during the decision-making process and after the sale.
Early planning for the post-sale phase, including identifying purpose and impact beyond the business, is essential.
Considerations for each group of stakeholders, such as family members who own the business but don't work in it, should be taken into account.
Avoiding regret of selling the business involves understanding personal goals and needs, planning for the day after the sale, and addressing emotional and financial aspects.
Preparing for life after the sale includes exploring new opportunities, seeking professional advice, and maintaining open-mindedness. Understand your skills and talents and how they can translate into new domains.
Take time to plan and make wise decisions, avoiding impulsive actions.
Consider the merits of earnouts as part of a transition.
Explore individual and collective philanthropy, finding the right balance.
Start early with transition planning and engage in open and honest family conversations.
Blend for-profit and non-profit activities to create a unified approach.
Capture family stories and history to preserve legacy and values.
Chapters
00:00 Introduction and Guest Introductions
04:03 Considerations in Family Discussions Leading to the Decision to Sell
08:24 The Role of Philanthropy and Impact in the Sale Process
11:16 Importance of Communication within the Family System
17:36 Effective Communication with External Shareholders and C-Suite
21:52 Considerations for Each Group of Stakeholders
27:29 Effective Communication Internally and Externally
36:39 Avoiding Regret of Selling the Business
42:21 Preparing for Life After the Sale
52:56 Understanding Skills and Talents
55:31 Transitioning to a Family Office
56:24 Managing Sudden Wealth
57:18 Taking Time to Plan
58:41 Dealing with External Pressure
59:30 Hiring the Right Expertise
01:00:02 Avoiding Impulsive Decisions
01:01:24 The Merits of Earnouts
01:04:01 Exploring What's Next
01:05:02 Collaboration and Holistic Approach
01:08:38 Discovering Purpose and Impact
01:11:15 Balancing Individual and Collective Philanthropy
01:19:36 Transitioning Identity and Purpose
01:23:22 Exploring Family Dynamics
01:29:11 Start Early with Transition Planning
01:32:05 Blending For-Profit and Non-Profit
01:35:29 The Power of Storytelling and Family History
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Summary
In this episode, Fiona Graham discusses the rebranding of Family Business UK and their focus on advocacy and policy. She highlights the key areas in their 2024 manifesto and the importance of long-term planning for family businesses. Fiona also shares insights from Family Business Week and previews the upcoming annual conference, which will focus on people and the challenges faced by family businesses. In this conversation, Russ and Fiona discuss the importance of family businesses and the challenges they face. They delve into topics such as succession planning, governance, communication, and collaboration. They also highlight the need for support and resources for family businesses. The conversation concludes with a call to action for listeners to get involved and learn more about Family Business UK.
Takeaways
Family Business UK has rebranded to become a movement for family businesses, focusing on advocacy and policy.
Their 2024 manifesto highlights key areas such as people, growth, and ownership, with a focus on long-term planning and support for family businesses.
Family Business Week celebrates the achievements and future leaders of family businesses, emphasizing the importance of peer networks and mentorship.
The upcoming annual conference will explore the challenges faced by family businesses, including people issues, skill development, and non-family involvement. Family businesses play a vital role in the economy and society.
Succession planning and governance are crucial for the long-term success of family businesses.
Effective communication and collaboration within the family and the business are essential.
Family businesses need support and resources to overcome challenges and thrive.
Chapters
00:00 Introduction and Rebranding
03:03 Focusing on Advocacy and Policy
08:26 The 2024 Manifesto
10:17 Key Areas in the Manifesto
19:10 Budget and Election Year
28:49 Highlights of Family Business Week
34:19 Upcoming Annual Conference
02:00 The Importance of Family Businesses
10:00 Challenges Faced by Family Businesses
20:00 Succession Planning and Governance
30:00 The Role of Communication and Collaboration
40:00 Supporting Family Businesses
47:00 Conclusion and Call to Action
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
The podcast is back!
In this short trailer I give you an overview of upcoming episodes.
There are six new episodes in this series.
1 - Family Business UK
2 - Selling the Family Business Pt.1
3 - Selling the Family Business Pt.2
4 - Are you ready to employ Non Family Execs?
5 - The importance of Storytelling
6 - Wealth of Wisdom
I'd love to hear from you as to the topics that are impacting you and that you would like me to cover in future series.
As ever if I can be of assistance, please get in touch
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Regular listeners of the show will be familiar with all of my guests on this weeks show.
I am joined by Jim Grubman, Denis Jaffe and Kristin Keffeler as they discuss their new book - Wealth 3.0 - The Future of Family Wealth Advising.
In this episode we cover some of the key areas of focus within the book and what it means for families of wealth and in particular those that advise them.
This episode is a special collaborative episode with The Ultra High Net Worth Institute in preparation for the launch of their very own podcast later this year.
I will keep you all updated on that as and when we approach release date.
If you are unfamiliar with the the work that the Institute does I highly recommend that you check out their website: https://www.uhnwinstitute.org/
All four of the speakers on the show are involved in the Institute and we are all very strong advocates for the thought leadership that comes from the Institute, the events that they run and the opportunity for individuals or firms across the globe to contribute to the future of wealth advising for UHNW families.
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
THE FOUR NOBLE TRUTHS
The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows.
Right Mindfulness: mindfulness is a three-pronged skill with regards to our state or frame of mind. Notice. Pause. Change. Although taught around the world today mindfulness is often misunderstood by its teachers and therefore also by its students, so it is important to learn mindfulness the way it was originally taught, that is, within the wider context we are summarising here. One could say that Right Mindfulness is the development of the ability to notice unhealthy thoughts and feelings, then shift the mind away from these to much wiser ones.
Right Concentration or Focus: if mindfulness is taking the mind away from unhelpful states, then Right Concentration or Focus is its partner. We try to develop the ability to keep our mind on positive or useful states of mind or where we want our mind to be, rather than constantly being distracted, say by emails, passing moods, daydreams, etc.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
THE FOUR NOBLE TRUTHS
The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows.
THE EIGHTFOLD PATH
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
The four previous “paths”, covered in previous episodes, relate directly to how we live our lives - our thoughts and feelings, our communication with others, our decisions, and our working life. The next three are the methods or disciplines to use to ensure we do in fact learn to manage our wayward minds.
Right Effort: changing our volatile, conditioned mind doesn’t happen overnight. It took us our entire lifetime to date to become who we are today, so reversing and changing our mindset takes time. Therefore we need to work at it with effort. Again, the word right means skilful. Skilful effort means we don;’t slacken off or lapse, but nor do we exhaust ourselves in too zealous an effort.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
THE FOUR NOBLE TRUTHS
The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows.
THE EIGHTFOLD PATH
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
Right Livelihood: this always astonishes me. 2500 years ago the Buddha was directly teaching rulers, employers, and employees how to work wisely. In particular he advised against doing work or careers which are inherently cruel or destructive, and if a person has no choice then they should make some amends by doing good in their spare time. This is what in recent years is now called CSR and ESG and “purpose-driven” but the Buddha taught it millennia ago and had a much stricter perspective than we have today.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
THE FOUR NOBLE TRUTHS
The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows.
THE EIGHTFOLD PATH
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
Right Actions: what we do should be skilful, positive, kindly, and considerate of all involved.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
THE FOUR NOBLE TRUTHS
The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows.
THE EIGHTFOLD PATH
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
Right Speech or Communications: we not only have to control and skilfully manage our thoughts and our intentions or goals; we also have to ensure that when we communicate these - whether by voice, email, on social media, or even body language - our words and gestures too are thoughtful, wise, and as constructive as possible.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
Right Intentions or Thoughts: we need to be skilful and careful with our thoughts. If our automatic mind’s reactions rule our life we have a lot of suffering and poor judgements. We should try to manage and control our thoughts so they are wiser, more considerate and constructive.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings.
Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person.
The Fourth Noble Truth: to cultivate these skills we have to follow a path that contains eight components, as follows:
As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise.
- Right Understanding
- Right Intentions or Thoughts
- Right Speech or Communication
- Right Actions
- Right Livelihood
- Right Effort
- Right Mindfulness
- Right Concentration or Focus
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings.
Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person.
The Third Noble Truth: we can learn to cultivate skills that stop our thirsts and thus end our various forms of suffering.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings.
Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person.
The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is thirsts that cause unhappy states of mind.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings.
Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person.
In this episode we explore The First Noble Truth. This states that we should be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering.
On the face of it this may not seem too inspiring but in our conversation Martin and I explain why this is not the case.
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
Welcome to The Mindful Family Business. This is an alternative look at family business governance.
Through engaging and thoughtful conversations between your hosts, Russ Haworth and Martin Stepek, we are hoping to deliver to you something a little different.
Utilising the expertise that Martin has on the teachings of Buddha and the combined expertise of Russ and Martin in the field of family business each podcast episode will leave you with meaningful thinking around how you own and operate a business together.
If you would like to explore the role that a mindful approach can have within your family business, please contact Russ - Russ@familybusinesspartnership.com
To find out more about our unique programme and how it can help you and your family business, please follow this link and download our brochure.
Alternatively, you can email us Russ@familybusinesspartnership.com
Copyright 2023 Russ Haworth and Martin Stepek
So this is just a really quick show to let you know that I am launching a new show with my colleague and friend, Martin Stepek.
The show is called The Mindful Family Business and will look at how you can apply the teachings of mindfulness to your family business.
The new show is launching today and will feature on this feed for a limited time. After a certain time I will remove them from this feed but you will still be able to listen by subscribing wherever you get your podcasts.
You can also find out more by visiting - www.familybusinesspartnership.com/mindful
In this two part interview with Dennis Jaffe, Ken McCracken, Daniel Trimarchi and Stacy Allred we explore the topics covered in the white paper that they have co-authored.
The collaboration is an example of the work being undertaken via the Ultra High Net Worth Institute (www.uhnwinstitute.org).
The white paper covers three key elements of transition planning
1 - Rethink
2 - Rebalance
3 - Re-invent
Through this discussion we explore each of these areas and gain insights from the guests on some of the key areas of this ever present topic within family business and family enterprise.
You can read the paper here: https://www.uhnwinstitute.org/reimagining-family-business-transitions-rethinking-rebalancing-reinventing/
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this two part interview with Dennis Jaffe, Ken McCracken, Daniel Trimarchi and Stacy Allred we explore the topics covered in the white paper that they have co-authored.
The collaboration is an example of the work being undertaken via the Ultra High Net Worth Institute (www.uhnwinstitute.org).
The white paper covers three key elements of transition planning
1 - Rethink
2 - Rebalance
3 - Re-invent
Through this discussion we explore each of these areas and gain insights from the guests on some of the key areas of this ever present topic within family business and family enterprise.
You can view the paper here: https://www.uhnwinstitute.org/reimagining-family-business-transitions-rethinking-rebalancing-reinventing/
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode I am joined by Fiona Graham from the Institute for Family Business as we discuss Family Business Week, some interesting research that will shortly be published and we debunk the myth that family businesses are old fashioned, “Mom and Pop Shops”.
We also explore the contribution that family businesses make to the UK and global economies and discuss the topics that have been front of mind for family businesses on the recent IFB Tour!
Useful Links
You can find out more about the IFB and their work by heading over to their homepage
You can follow Fiona on Twitter here: https://twitter.com/FionaVGraham and email her, Fiona.Graham@ifb.org.uk. Her Linked In profile is https://www.linkedin.com/in/fiona-graham-6b2a802a/
You can find out more about Family Business Week by heading over to https://www.familybusinessweek.co.uk/ and make sure you get involved by sharing your stories and celebrating your success.
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
I am joined on this show by Kristin Keffeler as we discuss the myth of the silver spoon. This happens to be the title of Kristin's excellent new book which you can find out more about here
In this really engaging conversation with Kristin we hear about her own story of growing up in a wealthy family.
Kristin discusses how our relationship with wealth is not the same as our relationship with money and that there are various forms of clutter that, if we can address, we can transform those relationships and become our true selves.
Useful Links
You can find out more about Kristin by connecting with her on Linked In or by visiting her homepage here
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode of the show I am joined by Dr Jim Grubman as we discuss an article he has written for International Family Offices. In this article he explores the so called "70% Rule". This "rule" states that 70% of wealth transfers globally, fail.
In the show Jim highlights which studies, evidence and statistics went in to the publication of the "rule" and why it is essential for practitioners and the families that we serve to ensure that we are not repeating so called "rules" as a marketing or fear tactic.
We also look at what can be done in the future to ensure we are using accurate, robust and sufficiently well diversified research criteria to understand patterns rather than to create rules or myths that can be misleading.
Useful Links
The articles that Jim references in the show can be found on his home page http://www.jamesgrubman.com/ or you can directly download the article using this link
Jim also references an article that he write for The Practitioner, a publication from The Family Firm Institute (FFI). You can access that article here
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Well, it has been a while since I hit record on my laptop but I am back with a new series of the show that is focussing on some of the common myths that exist within the world of family business and in particular when 'marketing' to family businesses.
Joining me in this series are Dr Jim Grubman, Kristin Keffeler and Fiona Graham as we look at the following:
- The 70% ~~Rule~~ Myth
- The Myth of the Silver Spoon
- The Myth that family businesses are old fashioned, and
- The Shirtsleeves to Shirtsleeves myth
Over the next week I will be publishing these episodes.
As I mention in this preview if you are able to support the show, that would be awesome. There is a link below that explains more.
Support the Show
The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.
www.fambizpodcast.com/support
Work With Russ
If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter
You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Welcome to this special bonus episode of the show. This follows an incredible week spent in the US with Jamie and Maureen Kelley from Bank of Oklahoma, or BOK Financial. Jamie and I attended and spoke at the brilliant Purposeful Planning Institute Rendezvous conference in Denver and then spent some time with Maureen and her team along with some clients. We wanted to share with you this experience and the benefits that can come from collaboration amongst professionals. As we embrace the age of Wealth 3.0 it is more important than ever to focus on the human connections with our clients.
We mention in this show an episode recorded with Dr Jim Grubman, Dr Dennis Jaffe and Kristin Keffeler on the topic of Wealth 3.0. That episode can be found here: https://fambizpodcast.com/wealth/ (https://fambizpodcast.com/wealth/ )
You can contact Maureen via email at: MKelley@bokf.com and you can get in touch with Jamie or I at hello@questforlegitimacy.com
The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World is available to buy on Amazon and Barnes and Noble. It will also be available in book stores.
You can follow these links to order the book:
https://www.amazon.com/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon USA ) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1656346608&sr=8-1 (Amazon UK) https://www.barnesandnoble.com/w/the-quest-for-legitimacy-jamie-weiner/1140532974?ean=9781119868279 (Barnes and Noble ) If you would like to speak to us about a bulk order for your family, your clients or team members please email us: hello@questforlegitimacy.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
We conclude our series looking at the ground-breaking research called The Quest for Legitimacy. This research spoke with rising gen family members from around the globe and asked them to share their experiences of growing up in "The Land of Giants". In this episode Jamie and I discuss the importance of humanising the giants in our lives to allow us to be able to walk in the land of giants.
The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World is available to buy on Amazon and Barnes and Noble. It will also be available in book stores.
You can follow these links to order the book:
https://www.amazon.com/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon USA ) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1656346608&sr=8-1 (Amazon UK) https://www.barnesandnoble.com/w/the-quest-for-legitimacy-jamie-weiner/1140532974?ean=9781119868279 (Barnes and Noble ) If you would like to speak to us about a bulk order for your family, your clients or team members please email us: hello@questforlegitimacy.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
As we continue our look at The Quest for Legitimacy research Jamie and I explore what is referred to in the book at "Breaking Moments". What are they? What do they feel like? Why are they important?
We then discuss what liminality is and how we are all currently living through a period of liminality.
The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World is available to buy on Amazon and Barnes and Noble. It will also be available in book stores.
You can follow these links to order the book:
https://www.amazon.com/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon USA ) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1656346608&sr=8-1 (Amazon UK) https://www.barnesandnoble.com/w/the-quest-for-legitimacy-jamie-weiner/1140532974?ean=9781119868279 (Barnes and Noble ) If you would like to speak to us about a bulk order for your family, your clients or team members please email us: hello@questforlegitimacy.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode we delve much deeper into The Quest for Legitimacy and explore the four phases. In particular we look at examples from the research that highlight how the phases feel and are experienced. We discuss the fact that the phases are not linear and that at any point in your life you can be taken back into an awareness phase that can lead to opportunities for growth.
The four phases of The Quest are: Awareness Tug of War Exploration Ownership
The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World is available to buy on Amazon and Barnes and Noble. It will also be available in book stores.
You can follow these links to order the book:
https://www.amazon.com/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon USA ) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1656346608&sr=8-1 (Amazon UK) https://www.barnesandnoble.com/w/the-quest-for-legitimacy-jamie-weiner/1140532974?ean=9781119868279 (Barnes and Noble ) If you would like to speak to us about a bulk order for your family, your clients or team members please email us: hello@questforlegitimacy.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In the first episode of the series we meet Jamie and hear about the depth of his experience across all of society, from Cook County Jail to large family enterprises. He shares the experience of growing up as the son of a Rabbi and the impact it had on his own life. We dive into the research and what motivated it along with an outline for the four phases of The Quest.
The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World is available to buy on Amazon and Barnes and Noble. It will also be available in book stores.
You can follow these links to order the book:
https://www.amazon.com/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon USA ) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1656346608&sr=8-1 (Amazon UK) https://www.barnesandnoble.com/w/the-quest-for-legitimacy-jamie-weiner/1140532974?ean=9781119868279 (Barnes and Noble ) If you would like to speak to us about a bulk order for your family, your clients or team members please email us: hello@questforlegitimacy.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
For the past 5 years or so I have been working alongside the brilliant Dr Jamie Weiner on a research project that has been asking members of the rising generation "what is it like to grow up in the Land of Giants?" In this series we bring you the findings from the research project and share stories from those we spoke with during this ground-breaking research.
Jamie has written an amazing book called The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World which has brilliantly captured the unique challenges of growing up around significance.
You can order the book on Amazon here:
https://us02web.zoom.us/j/81797269316?pwd=qyjKLpOCzyTBIhqqn3jazQP2FivoLb.1 (Amazon US) https://www.amazon.co.uk/Quest-Legitimacy-Children-Prominent-Families/dp/1119868270/ref=sr_1_1?keywords=quest+for+legitimacy+jamie+weiner&qid=1652737849&sprefix=Quest+for+leg%2Caps%2C408&sr=8-1 (Amazon UK )
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show I spend some time with Stephanie Brobbey as we discuss The Good Ancestor Movement. The impacts of the global pandemic and the war in Ukraine is bringing into focus some families relationships with their wealth and Steph has developed a fascinating way to discuss topics such as radical wealth distribution, wealth minimisation and values led wealth management.
We also cover the importance of knowing your purpose and how the book Start with Why by Simon Sinek changed Stephanie's life.
You can find out more about Stephanie at the following:
https://www.goodancestormovement.com/ (https://www.goodancestormovement.com/)
Linked In - https://www.linkedin.com/in/stephanie-brobbey-01a07416/ (https://www.linkedin.com/in/stephanie-brobbey-01a07416/)
Twitter - https://twitter.com/steph_brobbey (https://twitter.com/steph_brobbey)
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show I am joined by psychologist Dr. Moira Somers as we discuss the fascinating topic of The Psychology of Wealth. We look at the following: What is the Psychology of Wealth How can advisers work together to better serve our clients Why do we procrastinate Why we are such good fun at parties!
You can find out more about Moira by visiting her website https://moneymindandmeaning.com/ (here).
Moira's Book can be found https://www.amazon.co.uk/Advice-That-Sticks-financial-advice/dp/1788600142/ref=asc_df_1788600142/?tag=googshopuk-21&linkCode=df0&hvadid=241181689605&hvpos=&hvnetw=g&hvrand=16037216115377679564&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=1007149&hvtargid=pla-569474930313&psc=1&th=1&psc=1 (here)
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this interview I speak with Dennis Jaffe, Kristin Keffeler and Jim Grubman about what developments and evolutions are happening within "Wealth 3.0". We discuss the history of modern wealth advice and what we can learn from Wealth 1.0 and Wealth 2.0. Jim spends some time at the beginning of the episode explaining these terms in case you are unfamiliar with them.
We look at what can be learned from a study of 100 year old family businesses as well as other fields such as positive psychology.
You can find out more about Dennis Jaffe here: https://dennisjaffe.com/ (https://dennisjaffe.com/)
You can find out more about Kristin Keffeler here: https://illumination360.com/ (https://illumination360.com/)
You can find out more about Jim Grubman here: https://jamesgrubman.com/ (https://jamesgrubman.com/)
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this episode of the show I speak with Dr Jim Grubman and Tom McCullough about the topic of Family Wealth Integration. We discuss what the term means for you as a family but also for you if you are a practitioner working with families of wealth. We explore the four levels of integration that currently exist within the market; - No Integration - Basic Integrated Financial Management - Integrated Wealth Management - Family Wealth Integration We then explore the challenges of developing a practice across the levels of integration and the skills needed to do so.
The article that I reference in the show can be found here: https://www.familywealthreport.com/article.php?id=193160#.YkxWDZPMJTY (https://www.familywealthreport.com/article.php?id=193160#.YkxWDZPMJTY)
You can find out more about The Ultra High Net Worth Institute here - www.uhnwinstitute.org and to contact them the best email address is info@uhnwinstitute.org
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Welcome to this trailer for Series 9. This series I will be looking at the topic of Family Wealth in a little more detail and in particular some interesting thought leadership from some great guests. I have an interview with Jim Grubman and Tom McCullough in episode 1 of the series looking at Integrated Family Wealth, we then move on to an episode that looks at Wealth 3.0 with Dennis Jaffe, Jim Grubman and Kristin Keffeler. I then have an interview with Dr Moira Somers where we explore some of the psychology of wealth and lastly a great conversation with the founder of The Good Ancestor Movement, Stephanie Brobbey. As I mention in this show it would be great to hear from you. You can email at Russ@FamilyBusinessPartnership.com or contact me on social media, @RussHaworth on Twitter and https://www.linkedin.com/in/russellhaworth/ (https://www.linkedin.com/in/russellhaworth/) on Linked In.
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show the tables are turned! I am interviewed by my friend and colleague Martin Stepek. Following some requests from listeners to know more about me, I finally succumbed and asked Martin to interview me.
If you want to hear more about how I became a family business adviser and how growing up in a home where my parents fostered other children impacted my life, have a listen.
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode of the show I discuss three common myths that are often thrown at family businesses as rules or facts in order for them to act to avoid becoming a statistic themselves. The first myth is that around the number of family businesses making it to the third generation and what the often cited statistics are actually related to.
We then look at the shirtsleeves to shirtsleeves myth, which has been around far longer than the statistics about succession, but is equally as unreliable as the stats.
I also cover the common statement that "all you need is Governance" and highlight why I believe that in fact the discussions around the issues that can lead to governance are far more valuable than governance itself.
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks episode of the show I discuss the fact that often the definition of success for a family business is its ability to pass the legal ownership of the business between generations. This is obviously a fantastic part of a family business, if that is what everyone wants. But, what happens if that isn't the case and yet all the advice that is being received is focussed solely on the technical, legal and tax benefits of passing the business to the next generation?
I cover some of the alternatives and use a couple of examples of how focussing on wellbeing and discussing the alternatives lead to positive outcomes for all.
Links:
The link to the show discussing Employee Ownership Trusts is - https://fambizpodcast.com/episode35/ (https://fambizpodcast.com/episode35/)
The link to the interview with Debbie Ekins is: https://fambizpodcast.com/life-outside-the-family-business/ (https://fambizpodcast.com/life-outside-the-family-business/)
You can also find out about her new businesses here: https://debbieekins.com/ (https://debbieekins.com/) and here: https://coolstoryco.com/ (https://coolstoryco.com/)
If you would like a copy of the wellbeing 'tool' that I discuss in the show, please email me: russ@familybusinesspartnership.com
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show, I speak about the topic of 'professionalising' the family business. The term is not one that I am a huge fan of as it can suggest that until that point everything you did was unprofessional. I explain what the term 'professionalisation' means and the circumstances under which it can arise. I also look at some of the common concerns or barriers to professionalisation and how to overcome them.
There are many benefits to professionalising your family business and I summarise these as well.
The episode I refer to where I speak in more detail about Non-Executive Directors can be found by following this link: https://fambizpodcast.com/non-executive-directors/ (https://fambizpodcast.com/non-executive-directors/)
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks episode I discuss ownership philosophy. Have you as an ownership group sat down and discussed why you own a business together and what ownership means to each of you? My thoughts are that when a business is set up, ownership is a byproduct of the founders passion, but as the business becomes something to pass to the next generation different perceptions of what ownership might mean to each of you can tensions within the business and the family. Having the conversation around what ownership means to each of you, whether that is before or after ownership transition has happened, can be a really positive step in creating the foundation for a multi-generational business.
Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
At the beginning of any new year it is easy to set ourselves New Year's Resolutions that normally fizzle out by February. For the past couple of years I have approached my years in a different way and I thought I would share this with you in this episode. There are applicable tips in this show for you and your family business and how to shape your vision and goals. Remember to sign up to the newsletter to receive my 2022 Mission Statement LINKS: My Three Words from Chris Brogan - https://chrisbrogan.com/stories/community/3words2022/ (https://chrisbrogan.com/stories/community/3words2022/) Atomic Habits by James Clear - https://www.amazon.co.uk/Atomic-Habits-Proven-Build-Break/dp/1847941834 (https://www.amazon.co.uk/Atomic-Habits-Proven-Build-Break/dp/1847941834 ) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Welcome to 2022! This episode provides you with a preview of what to expect in Series 8 of the show. These will be shorter episodes covering specific topics that I think you will find useful. I also signpost you to the playlists that I have created covering topics such as Succession Planning Governance Next Generation Family Wealth Sustainability and much more. Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
To celebrate Family Business Week we are looking back over some of our favourite interviews with UK family businesses. Today's interview is with Sir John Timpson. Timpson's is one of the UK's most recognisable brands and their culture is the envy of most. We hear about how this culture is embedded into the business and reflected across the country by empowered staff. We also hear about Sir John's experience of fostering many children alongside his late wife Alex. As someone who grew up in a home that fostered those less fortunate than me, I can relate to how impactful the experience must have been for them. The link for the Alex Timpson Trust is - https://uk.virginmoneygiving.com/donation-web/charity?charityId=1013855&stop_mobi=yes (here) About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Find out more at https://my.captivate.fm/www.familybusinessweek.co.uk (www.familybusinessweek.co.uk) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
To celebrate Family Business Week here in the UK we are looking back over some of our favourite interviews with UK family businesses. Today's interview is with Jonathan Falder of HMG Paints. We talk about how their culture is embodied throughout the business with multiple generations of the same families working for HMG. We also hear about Jonathan's experience of coming face to face with an alien! About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Find out more at https://my.captivate.fm/www.familybusinessweek.co.uk (www.familybusinessweek.co.uk) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
To celebrate Family Business Week we are selecting some of our favourite interviews with family businesses here in the UK. Today's interview is with Iain Stirling from Arbikie. We discuss the collaboration that led to them creating the worlds first carbon positive Gin. About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Find out more at https://my.captivate.fm/www.familybusinessweek.co.uk (www.familybusinessweek.co.uk) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
To celebrate Family Business Week here in the UK we are selecting some of our favourite interviews with family businesses here in the UK. This episode is a fantastic discussion with Maurizio Bragagni who is the CEO of Tratos, a multinational, multi-generational family business. We discuss the importance of looking after your local communities and highlight how family business can be a force for good! About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com)
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
To celebrate Family Business Week we are re-releasing some of our favourite interviews with family businesses here in the UK. In today's episode we revisit the conversation that I had with Josie Morris MBE from WoolCool. We talk about their journey to becoming a Certified B-Corp and Josie's experience of being awarded the MBE. About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to https://my.captivate.fm/www.fambizpodcast.com (www.fambizpodcast.com) and sign up now
On this weeks show I am joined by Sir James Wates as we discuss Family Business Week. Sir James is the Chairman of The Wates Group and also the Institute for Family Business. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. We also discuss The Wates Principles. In late 2017, Sir James Wates CBE, was invited by the Government to lead the development of corporate principles for large private companies. The resulting code – now known as the https://www.wates.co.uk/articles/insight/the-wates-principles-report/?hub=who-we-are--corporate-governance (Wates Principles) was launched in December 2018 and provides a framework to help companies to meet legal requirements while promoting long term success. The Wates Principles encourage these companies to adopt a set of key behaviours to secure trust and confidence among stakeholders and benefit the economy and society in general. Follow Family Business Week on Twitter https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2FFamilyBizWeek&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Cf666ae09d51e418a5e9808d9a5bf3dc4%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637723064551017563%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=SuI%2Bv1%2BusKJ7gTy2t6ntMBOLFV9F6qA476q3mGEEqfQ%3D&reserved=0 (@FamilyBizWeek) Join the conversation using the hashtags #FamilyBizWeek and #WeSupportFamilyBiz You can read fascinating case studies or download content to share on social media at https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.familybusinessweek.co.uk%2F&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Cf666ae09d51e418a5e9808d9a5bf3dc4%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637723064551017563%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=%2FhItrY7UG%2FjdIp3iAbca%2FjBMLXfjpnmLhUnMFBpzctk%3D&reserved=0 (www.familybusinessweek.co.uk). About Family Business Week Family Business Week is a week long celebration of family businesses as a force for good The pandemic has once again highlighted the vital role that businesses play in supporting their local communities, and it is these community-focused values that are at the heart of family businesses. Rooted in their local communities, family businesses provide a long-term, sustainable model which views business as a force for good. Family Business Week 2021 is a week-long celebration of family businesses, particularly in relation to supporting local communities across all parts of the UK, and providing a platform to highlight the role of business as a force for good. Led by the Institute for Family Business (IFB), the voice of the UK’s family business sector. Find out more at www.familybusinessweek.co.uk Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. https://my.captivate.fm/www.fambizpodcast.com/support (www.fambizpodcast.com/support)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to https://my.captivate.fm/www.familybusinesspartnership.com (www.familybusinesspartnership.com) Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your...
On this weeks episode we round off our series on sustainability with a discussion with Rennie Hoare, Partner and Head of Philanthropy at https://www.hoaresbank.co.uk/ (C. Hoare & Co.) a Private Bank here in the UK, as well as discussing the history of the family business, and how Rennie became a Partner in the business we look at some of the emerging trends in philanthropy and in particular "sustainable philanthropy". Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
As we continue our look at sustainability I am joined on the show by Maurizio Bragagni who is the CEO if Tratos. We discuss the strategy that Tratos have adopted over many years and highlight the fact that much of what is considered "sustainable" is in fact more achievable than perhaps first thought. Maurizio tells us how decisions made 30 or 40 years ago are still evident today and that a sustainable strategy starts with profit. I love the story we hear about the factory being expanded around an oak tree, for me this typifies the approach that Tratos have taken to their strategy. You can find out more about this at their website: https://tratosgroup.com/ (https://tratosgroup.com/ ) Maurizio also has a personal website here: https://www.bragagni.uk/ (https://www.bragagni.uk/) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks episode of the show we continue our look at sustainability and I speak to Catherine Grum of BDO about the role that diversification is playing in this. We look at what diversification is, what is driving the conversations that are being held about this and how to navigate the complexities that can arise when looking at diversifying. We discuss the role that diversification can play in helping families achieve their sustainability agenda's. You can find out more about Catherine on Linked In: https://www.linkedin.com/in/catherinegrum/ (https://www.linkedin.com/in/catherinegrum/) Or at the https://www.bdo.co.uk/en-gb/services/tax/private-client-services/family-business-advisory (BDO Family Business Services) page Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show I am joined by Dr. Bridget Kustin as we discuss The Ownership Project. The project explores $1bn family enterprises and collates what they are doing into a "Toolkit for Responsible Ownership". The study looks at seven narratives that we often hear about family businesses: Family Business as a force for good We have a long term orientation. We think in generations, not financial quarters Family owners are uniquely agile Employees prefer working in a family-owned business. Our employees are like family I don't consider the business as something that belongs to me. I consider myself a steward of it for the next generation. We care about our community Shirtsleeves to shirtsleeves in three generations
Continuing our series on Sustainability we explore some of these narratives and whether they are true because we tell ourselves they are true, or because we can evidence that they are true. The Ownership Project You can find out more information about The Ownership Project here: https://www.sbs.ox.ac.uk/research/centres-and-initiatives/responsible-business/ownership-project-oxford-said (https://www.sbs.ox.ac.uk/research/centres-and-initiatives/responsible-business/ownership-project-oxford-said ) You can access the toolkit here: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.sbs.ox.ac.uk%2Fsites%2Fdefault%2Ffiles%2F2021-07%2FA_Toolkit_for_Responsible_Ownership_-_The_Ownership_Project_at_Oxford_Sa%25C3%25AFd_-_July_2021.pdf&data=04%7C01%7CRuss%40familybusinesspartnership.com%7C4aee2954932a4c38edf908d9451732ff%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637616789685592408%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0&sdata=Iua4eV6lj7xXwsY88J8acwPMybw2JczNZJnW4WXkHs4%3D&reserved=0 (https://www.sbs.ox.ac.uk/sites/default/files/2021-07/A_Toolkit_for_Responsible_Ownership_-_The_Ownership_Project_at_Oxford_Sa%C3%AFd_-_July_2021.pdf) Dr. Bridget Kustin You can find out more about this weeks guest here: https://www.sbs.ox.ac.uk/about-us/people/bridget-kustin (https://www.sbs.ox.ac.uk/about-us/people/bridget-kustin) Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
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On this weeks show I am joined by Becky Valentine from Spenbeck. They are a small family owned business based in Nottingham. We discuss how they have used the UN's 17 Sustainability Development Goals or SDG's to embrace sustainability at the core of what they do as a business. Becky shares how they got started and the lessons they have learned along the way. Spenbeck’s building health consultancy enables companies to take a holistic approach to their wellbeing strategies. By optimising the office physical environment through improvements to such components as indoor air quality, thermal comfort and lighting, Becky helps to maximise employee health and wellbeing. Feel free to get in touch with Becky for further details You can find out more about Spenbeck here: https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.spenbeck.co.uk%2F&data=04%7C01%7CRuss%40familybusinesspartnership.com%7C58637a38248040eff0d508d9421d2de7%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637613516229070495%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0&sdata=7f%2BxUp2V76vP7LQ2VPtKnofbYGymdwUBzelpAhBZg1Q%3D&reserved=0 (www.spenbeck.co.uk) You can find out more about the Birkin Building here: https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.thebirkinbuilding.co.uk%2F&data=04%7C01%7CRuss%40familybusinesspartnership.com%7C58637a38248040eff0d508d9421d2de7%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637613516229075470%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0&sdata=IzMTupX2Y9lz11rEJRSLfjY8rlp0kYwECTBgeCUpN8k%3D&reserved=0 (www.thebirkinbuilding.co.uk) and if you want to connect with Beck and discuss how she might be able to assist you, use the below links. Twitter @spenbeck1981 / @bec_valentine11 www.linkedin.com/in/becky-valentine-74b483114/ Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this episode of the show I am joined by Josie Morris MBE. Josie is the MD of Woolcool Ltd, a 2nd Generation family business and a Certified B-Corp business. What is a B-Corporation?https://bcorporation.net/ (Certified B Corporations) are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. They are a community of leaders, driving a global movement of people using business as a force for good. There are a number of tools and links on the B Corporation website that allow you to assess where you are in terms of the requirements for certification. During the show Josie explains why this process was right for her family and for the business. Josie is MD at https://www.woolcool.com/ (Woolcool), a UK based, 2nd Generation, family business founded by her mother in 2009. Woolcool are leading innovators in their sector, producing insulated packaging using Sheep Wool, providing a sustainable alternative to Polystyrene. Support the Show The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing. www.fambizpodcast.com/support Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now.
Continuing our series on Sustainability I am joined this week by Fiona Graham from the IFB. We discuss a really important consultation that the UK Government are undertaking on audit and governance reforms. You can read more about that here: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fconsultations%2Frestoring-trust-in-audit-and-corporate-governance-proposals-on-reforms&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Ca7238dc5d6664595d17908d9326f727b%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637596276687567492%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=3Q99AcseaazWrWf%2Bz0MmQd7X6ArPPN1Udo4MMoebDWE%3D&reserved=0 (https://www.gov.uk/government/consultations/restoring-trust-in-audit-and-corporate-governance-proposals-on-reforms) If you would like to respond to the consultation you can do so by following this link: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fbeisgovuk.citizenspace.com%2Fbusiness-frameworks%2Faudit-and-corporate-governance-review&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Ca7238dc5d6664595d17908d9326f727b%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637596276687577443%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=ubnjN%2FpYjcjJ5Hicj4K1POTuw0X3Lk9OvwDSh5%2BqCY4%3D&reserved=0 (https://beisgovuk.citizenspace.com/business-frameworks/audit-and-corporate-governance-review) We also discuss the recent IFB conference and how many of the firms that both spoke and attended the conference have sustainability very high on their agenda. We also cover many of the challenges that families have in this area and the resources that are available to help. Much of the focus around sustainability is on 'big' business and it can sometimes feel as though smaller businesses are left to their own devices. With this in mind the UK Government have launched a campaign called "Together for our Planet" and you can find out more about that here: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fnews%2Fcalling-all-small-businesses-to-lead-the-charge-to-net-zero&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Ca7238dc5d6664595d17908d9326f727b%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637596276687597352%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=Uj9HA2vHOwDDB6uFV1tT35a0ZS%2BPKhB3QWaGq0DF8NI%3D&reserved=0 (https://www.gov.uk/government/news/calling-all-small-businesses-to-lead-the-charge-to-net-zero) If you missed the IFB's TEDx event you can catch all the sessions from that here: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.ifb.org.uk%2Fresources%2Ffor-owners%2Ftedxinstituteforfamilybusiness-family-business-as-a-force-for-good%2F&data=04%7C01%7CRuss%40familybusinesspartnership.com%7Ca7238dc5d6664595d17908d9326f727b%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637596276687597352%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=DwfEGG2wPVEb4dAiBUf%2FIVMby2mPUKxEQ5UTZczjiOU%3D&reserved=0 (https://www.ifb.org.uk/resources/for-owners/tedxinstituteforfamilybusiness-family-business-as-a-force-for-good/)
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It can be quite intimidating to know how and where to start and so in this episode I speak with Andrew Bryson who is Head of Business Transformation at https://www.fbn-i.org/ (FBN International). What is Sustainability?According to the UN’s own website, sustainability is defined as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” In the show Andrew and I discuss the joint initiative between The UN and FBN-i. This has been called Family Business for Sustainable Development and you can read loads more about it https://fbsd.unctad.org/pledge/ (here.) To help family businesses as much as possible there are ‘Sustainable Development Goals’ that you can commit to and use as a way to focus your minds on what you want to address. In addition “The Pledge” focusses on four key areas: Sustainable Growth Environmental Stewardship Social Inclusion Good Governance
We discuss what this means for you and your business in the episode. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
If you are looking to grow your business and are considering ways in which to do that, it may be that private equity is a way to access both liquidity and support. In this episode of the show I am joined by Dominic Graham from Waterland Private Equity as we discuss the different types of private equity, tackle some of the pre-conceptions and look at the reasons why you might want to take a close look at private equity. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode I explore the importance of having clarity as an individual as to what you want to achieve in life, clarity as a family as to why you own your business together and how these can be combined to influence the strategy of the business. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this episode I am joined by Jamie Yeunger and Piet Hurkmans from Storykeep, a private podcasting company. We discuss what private podcasting is and how it can be used as a tool for communicating within your family business, or as a way to help preserve your family history and protect your legacy. You can find out more about Storykeep on their website www.storykeep.com Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
The past year or so has seen businesses facing unprecedented trading conditions and whilst some have thrived, others have not and are simply surviving. Some may be facing the difficult position of looking at the ongoing viability of their business. On this show I am joined by Gareth and Steph Buckley from The Insolvency Company. We look at when a business becomes insolvent and the steps you can take to understand your position. If you feel your business is struggling, there are options and we cover these in our discussions. You can find out more about The Insolvency Company by visiting their website which is https://www.theinsolvencycompany.co.uk/ (https://www.theinsolvencycompany.co.uk/) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
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One of the elements to the last year or so that we may look back on as a silver lining to the cloud that has been the global pandemic is that it has accelerated certain elements of how we run our businesses. One area this has been seen is in the digitisation of the family business. Whether that is in our processes, our documentation or simply in how we meet with others using technology in the absence of an ability to meet face to face. However, digitisation is also seen as one of the areas of business that we find more challenging and so on this weeks so I speak to Edouard Janssen and Edouard Thijssen of Trusted Family about how they tackled the issue of digitisation in their own family businesses and how this launched a product that other families can use. Their story highlights the opportunities that may exist within your own family business and the tips that they share will help you with how to get started. Trusted Family You can find out more about Trusted Family by visiting their site www.trustedfamily.com Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Mental health awareness is vital at all times but as it is Mental Health Awareness Week in the UK and Mental Health Awareness month in the US it seemed timely to have a discussion about mental health in the family business. Mental health issues is estimated to affect 1 in 4 of us and given the complicating factors that can exist within a family business it is something that we should all be aware of. In this episode I am joined by Whitney Johnson from O'Connor Professional Group, a private behavioural health practice that works with families dealing with a wide range of mental health issues. We discuss the signs to look at for and how to raise the issue with our loved ones, friends and colleagues. The list of resources that Whitney and I discuss is here: www.fambizpodcast.com/mental-health-awareness Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
When a family business is sold, there can be significant amounts of cash released and when these amounts reach certain levels, it may be appropriate for you to consider the establishment of a Family Office to manage your family wealth. There are options available to you regarding the type of family office you establish and we cover those in this episode. We also look at the timeframes you should be considering when making the decision to establish a family office and the discussions needed to ensure that there is purpose and a vision for the wealth and that a plan exists to achieving that. We look at the impact on dynamics of moving from an operating company that generates the family wealth to running a business that aims to preserve that wealth. If you would like to know more about my guest on this weeks show you can visit her website: www.tamarindpartners.com You can also email Kirby at: Kirby@tamarindpartners.com Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Many of the common challenges that the families I work with are facing can be traced back in some way or another to a boundaries issues. When you work with your family the informality or lack of boundaries can be empowering, it can be what sets you apart as a family business. However, it can also be what creates the tensions that if left unchecked can lead to full blown conflict and the potential demise of the family business. I am really pleased to be joined by Melissa on this episode to discuss the importance of boundaries and provide some practical examples and steps as to how you can start to introduce more formal boundaries within your own family business. Melissa Mitchell-Blitch - Family Business Consultant and Author of In the Company of Family: How to Thrive When Business Is Personal. A former CPA, her career started at a Big 5 accounting firm. As part of the Family Wealth Planning group, she saw the challenges of family business and family wealth. The cons often overshadowed the enjoyment of working with family. She was convinced there had to be a better way, but could not find anyone who could help navigate the intersection of family, business, and wealth. Determined, she left her career in finance and earned a Master's in Psychology. In the almost two decades since, Melissa has learned how families can thrive, even when business is personal. In the Company of Family: How to Thrive When Business Is Personal. When you work with family, business is personal. That can be a dream or a nightmare. What makes the difference? Knowing how to navigate well your differences and the multiple roles you share.When you are family, coworkers, co-owners, differences abound — opinions, values, preferences. How can you keep differences from being divisive? Through real-life case studies, In the Company of Family reveals the principles of boundaries, which will help you thrive even though business is personal. You can buy a copy of the book https://www.amazon.com/dp/0578761459/ref=cm_sw_em_r_mt_dp_y0kIFb959R5SP (here) for those in the US and https://www.amazon.co.uk/dp/0578761459/ref=cm_sw_em_r_mt_dp_K3QRFb74EYN45 (here) for everywhere else. IFB Conference Although we live in times of incredibly rapid change and uncertainty, one thing remains true: there’s power in people coming together. So, join me and the IFB on 10 June 2021 to explore a broad range of topics linked to the theme of 'Destination: Future' You can buy tickets https://www.eventbrite.co.uk/e/ifb-national-conference-2021-tickets-144183949073 (here.) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now. Support the show: If you are liking what I am doing and would like to show your support, I have created a page on my website that allows you to do that. www.fambizpodcast.com/support
A relationship breakdown can be really difficult for a family to deal with at the best of times, however when this involves the family business there is an additional level of complexity that needs to be thought through. In this episode I am joined by Zahra Pabani from law firm Irwin Mitchell as we discuss what you can do to protect the families assets, including the family business, in the event of a relationship breakdown. We look at Living together agreements Pre-Nuptial Agreements Post-Nuptial Agreements
We also look at what characteristics need to be in place for ex-spouses to remain in business together following a divorce, should you wish to. You can find out more about Irwin Mitchell and Zahra here: https://www.irwinmitchell.com/our-people/zahra-pabani (https://www.irwinmitchell.com/our-people/zahra-pabani) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Back in 2018 The Family Wealth Report bought together a panel of advisers to ultra high net worth families and discussed how effective business models were at serving the complex needs of these families. Their conclusion was that, whilst there were great firms serving the space, there was no stand out model that fully served these families. In addition, when speaking to families who had attended the conference it became really clear that there was a lot of confusion amongst these families with them not understanding the value proposition of the business models. And so the journey to creating The Ultra High Net Worth Institute began. Hear more from this story and the impact that The Institute are looking to have in my discussion with Steve Prostano. You can find out more about The Ultra High Net Worth Institute by heading over to their website: www.uhnwinstitute.org Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
As we emerge from this global pandemic now might be a useful time to review how things are set up and if that matches everyone's expectations. An actual lifeboat drill is essentially a practice evacuation of a ship using the lifeboats on board. I am not advocating everyone rushing out and practising evacuations, however it is the purpose of a lifeboat drill that is important here. The reason that lifeboat drills are important for sailors is that if and when they need to use the lifeboats they want the reassurance of knowing that: The lifeboat does the job it is there to do; and If anything does go wrong that it is not at a time of emergency and you can do something about it.
It is this principle that I am advocating. A lifeboat drill for your family business is essentially looking at a number of 'what if' scenarios that allow you to test that the legal, financial and business procedures you have in place are fit for purpose. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
I am joined on this episode by Daniel Trimarchi as we discuss a recent article from a collaboration between KPMG Private Enterprise and The STEP Project Global Consortium looks at how to create value through Governance. Empowering the future of family business – a four part article series on some of the key topics impacting business families including succession, women in family business, governance and legacy - https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fhome.kpmg%2Fxx%2Fen%2Fhome%2Finsights%2F2020%2F11%2Fempowering-the-future-of-family-business.html&data=04%7C01%7CRuss%40familybusinesspartnership.com%7C5f389aa42b44445a445208d8e4b5788c%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637510815366300921%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=RDFG%2FTQ%2BDjsnzD6uA0Zl7Mr7iyNsiDvVOQq0SZxpSLM%3D&reserved=0 (Empowering the future of family business - KPMG Global (home.kpmg)) Global family business report to be released March 18th titled ‘Mastering a comeback: How family businesses are triumphing over COVID-19’ - https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fhome.kpmg%2Fxx%2Fen%2Fhome%2Finsights%2F2021%2F02%2Fglobal-family-business-report-covid-19-edition.html&data=04%7C01%7CRuss%40familybusinesspartnership.com%7C5f389aa42b44445a445208d8e4b5788c%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637510815366310875%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=8C9CN1JJ3ZBGd0ITEQycw0U8cFEamq1zQLCPRA6Yhdw%3D&reserved=0 (Global Family Business Report - KPMG Global (home.kpmg)) We discuss the following: What is Governance? What do we mean by 'value'? In what ways the benefits of good governance outweigh the negatives of implementing good governance. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
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On this weeks show I am joined by Dr Jim Grubman. Jim spoke with us last year in a really popular episode and I am sure that this episode will be equally popular. We are discussing the Ten Domains of Family Wealth. This is a piece of thought leadership from The Ultra High Net Worth Institute that looks at all of the various domains that families with wealth need to focus on and highlights to advisers that their roles have changed. If you want to find out more about The UHNW Institute you can visit their site here: www.uhnwinstitute.org If you want to learn more about Jim and his work you can visit: www.jamesgrubman.com Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
In this weeks episode we continue our look at Trusts and I speak with Cindy Radu about Trust Governance. In particular we explore the concept of a Trust Advisory Council. This helps the parties related to the Trust to understand The Purpose of the Trust, away from the legal aspects How communication and financial education can be provided Provides an independent adviser to the trust
If you would like to speak to Cindy, you can find her on Linked In here: https://www.linkedin.com/in/raducindy/ (https://www.linkedin.com/in/raducindy/ ) Or you can contact her via her website - www.cindyradu.com Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Trusts can be a fantastic way to specify how our assets are used and how our wishes are carried out beyond our lifetimes. They can be used to pass down wealth between generations including the family business. However, there are a number of things to be aware of and considered before setting a trust up and in this episode I am joined by Matt Braithwaite from Wedlake Bell as we discuss Trusts and their uses. We cover : What they are What roles accompany the trust Who should be your trustees Their interaction with other legal arrangements you may have made How to get started
You can find out more about Matt here: https://wedlakebell.com/people/matthew-braithwaite/ (https://wedlakebell.com/people/matthew-braithwaite/ )
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
When I started the podcast I had no real expectations beyond trying to put out insightful information to family businesses from experts around the world. In this episode I reflect back on the previous 99 episodes and summarise my thoughts on important issues such as: Communication Governance The need for coherent advice Succession does not mean success
I would love to hear from you with suggestions for future episode and I look forward to bringing you the next 100! Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Richard Hearn is the Membership Director for the Institute for Family Business and Daniel White is the Assistant Director of the Kansas Family Business Forum. Both organisations exist for the benefit of their members, and in this episode we discuss the value of belonging to these organisations. If you are not UK or Kansas based, this will still be of value to you as there are other organisations out there that can help. You can find out more about The IFB here: www.ifb.org.uk You can find out more about The Kansas Family Business Forum here: https://www.wichita.edu/academics/business/entrepreneurship/kfbf/Kansas_Family_Business_Forum.php
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
This weeks show is an interview with Jeremy Manford. Jeremy is the CEO of his family business, Compu-Stor based in Australia. In this interview we discuss Jeremy's experiences of joining the business, succeeding his father and how he and his brother have recently clarified their roles to make best use of their resources. We also hear about the value that Jeremy and his family have found in being members of Family Business Australia and how valuable having peers you can discuss challenges with is. Something that I will specifically be speaking about in next weeks show!
I am very grateful to Jeremy for sharing his experiences and the lessons we can all learn from them.
If you want to find out more about the business you can head over to https://www.compu-stor.com.au/ (https://www.compu-stor.com.au/)
You can find Jeremy on Linked In, here: https://www.linkedin.com/in/jeremy-manford-compu-stor/ (https://www.linkedin.com/in/jeremy-manford-compu-stor/)
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks episode I am joined by Josh Baron and Rob Lachenauer from Banyan Global as they discuss the 5 rights of ownership and much more from their book Harvard Business Review - Family Business Handbook. Josh and Rob describe these rights as being: 1 - The Right to Design 2 - The Right to make decisions 3 - The Right to Value 4 - The Right to Inform 5 - The Right to Transfer In this engaging and really enjoyable chat Josh and Rob share their thoughts on what these rights mean for you. You can find out more about Josh and Rob here: https://banyan.global/ (https://banyan.global/) You can order your copy of the book here: https://banyan.global/hbr-family-business-handbook/ (https://banyan.global/hbr-family-business-handbook/ ) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Succession Planning is a complex process, there are many moving parts to it and lots to consider. This can put a lot of people off starting the process or leaving them not knowing how or when to start. In this episode I share some tips on how to get started. 1 - Start Early 2 - Separate out the different elements of succession 3 - Look at the role of Family Governance 4 - Keep an open mind 5 - Have open and honest conversations I also cover when to get started and without wanting to ruin the surprise, the answer is NOW! Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
On this weeks show I am joined by Dominic Rubino. Dominic is a business coach now but has historically owned and worked in a Family Business. In this episode of the show we look at what we can learn from Dom's experience of working in a relatively informal business and governance structure with his cousin. We also explore how money can be destructive and what happens when you experience rapid growth in the early stages of the business.
We look at the need for governance and 'professionalisation' and the impact on businesses of not having this in place.
You can find out more about Dom and his work by heading over to:
https://profittoolbelt.com/
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
One third of businesses that go to market to sell actually conclude successfully! We look at some of the common emotional barriers to these transactions and what we can do to help avoid them. If you are a professional adviser to family business owners this is a must listen episode as Denise shares her experience of helping sellers to overcome these barriers. We look at the emotional aspects of selling or passing your business on to the next generation and ask the question: What does work provide for you? As a business owner no-one prepares you for letting go of your business, the role you play in it and the emotional wellbeing that it provides. You can find out more about the work that Denise does by heading to https://deniselogan.com/ (https://deniselogan.com/) Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
With a title like that there is a danger that this post could be viewed as quite morbid, but please read on, the aim of this is to inspire and provoke some thoughts rather than depress. For those familiar with the ‘Top 5 regrets of the dying’ hopefully this will be a useful reminder, for those unfamiliar with them, please allow me to introduce you to them. https://bronnieware.com/ (Bronnie Ware) spent many years as a palliative care nurse and in 2009 she wrote an article called Regrets of the Dying. Bronnie grew close to those that she cared for and had honest discussions with them about life, death and regret. She documented these regrets as a way of highlighting that when we are faced with our own mortality and we are reflecting on our lives, looking back rather than forward, there are many things that we wish we could have told our younger selves. You can learn more about the book that followed https://bronnieware.com/regrets-of-the-dying/ (here). In summary the top 5 regrets are listed below; I wish I'd had the courage to live a life true to myself, not the life others expected of me. I wish I hadn't worked so hard. I wish I'd had the courage to express my feelings. I wish I had stayed in touch with my friends. I wish that I had let myself be happier.
I am going to discuss each of these regrets in the context of family business, drawing on my own experience as a human being, but also as a family business adviser and what we can learn from the regrets of others in the hope that we can avoid these in our own lives.
Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com
Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now
Should you gift your family business to the next generation? Should you leave the business to your children in your will? Or, should the next generation be asked to buy the family business at full market value? When do you start the discussions about these topics and how do you avoid them becoming argumentative and potentially damaging to your family? We cover this and a whole lot more in this thought provoking episode of the podcast. You can find out more about Tom and his book at: www.everyfamilysbusiness.com You can connect with him on Linked In: https://www.linkedin.com/in/tomdeansphd/ (https://www.linkedin.com/in/tomdeansphd/)
On this episode I am joined by Peter Vogel. Peter is Professor of Family Business and Entrepreneurship, Director of the Global Family Business Centre at IMD Business School in Switzerland and the co-author of the book The Family Philanthropy Navigator. We discuss how philanthropy has evolved throughout history and look at the latest trends in this fascinating area. We talk about how you as a family would decide on the types of philanthropic activity you want to pursue and where to start when looking to begin your giving journey. We also explore the wider benefits to your family enterprise of having a structured approach to your philanthropic activities. You can buy the book by visiting this web page: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.imd.org%2Ffamily-philanthropy-navigator%2Fbook%2F&data=04%7C01%7Cruss%40familybusinesspartnership.com%7C51d33c0f8cfb4405dd0e08d891fca7cc%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637419861745754292%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=aPDeuGbaqfRjw4%2Bhy7cHbUn9CurYFd2%2Bz5wE5k6kUPo%3D&reserved=0 (https://www.imd.org/family-philanthropy-navigator/book/) You can find out more about Peter here: https://www.linkedin.com/in/vogelpeter/ (https://www.linkedin.com/in/vogelpeter/) You can email him: peter.vogel@imd.org
Sometimes the right thing to do with a family owned business is to sell it. If that liquidity event provides sufficient wealth and financial independence for the owners of that business, they may want to look at ways of passing that wealth on to future generations in a tax efficient way that also allows them to retain control over those assets. One vehicle for doing this is a Family Investment Company. In this episode of the show I discuss these businesses with Helen Clarke from Law firm Irwin Mitchell. We look at what circumstances these can be suitable and the process to go through to set one up. We look at how a FIC can help retain control of assets, educate the next generation and become a generational planning tool. We also look at some of the 'what-ifs' and pitfalls to avoid along with covering the importance of family governance and robust legal structures. You can find out more about Helen and her work with Irwin Mitchell, here: https://www.irwinmitchell.com/our-people/helen-clarke https://www.linkedin.com/in/helenclarkeimpw/
Succession Planning is complex and whilst there are financial and technical complexities there are also emotional complexities that can get in the way of succession planning. In this episode I explore those and look at some of the common issues I come across in the work that I do. We look at whether now is the right time to start succession planning if you haven't already and I share some tips on how you might want to do this. I also share my views on the different perspectives that are at play across generations that might be creating barriers to progress. I also introduce you to 'Collections' and my brand new shiny newsletter! You can find out more about my business by heading over to www.familybusinesspartnership.com You can find collections and newsletter sign up at www.fambizpodcast.com/episodes
Debbie Ekins has recently decided to pursue a career away from her family business. This wasn't an easy decision or one that she made quickly. In this episode I talk to Debbie about her experience, the emotional rollercoaster she experienced whilst deciding what she wanted to do and how she told her parents that she didn't want to take over the family business. Debbie shares her story and there are a huge number of lessons that can be taken from it. You can find out more about Debbie here: www.debbieekins.com On Linked In here: https://www.linkedin.com/in/deborahekins/ and Instagram Here https://www.instagram.com/debbie_does_things/
We last spoke with Fiona back in March as we entered the first lockdown here in the UK. Since then a lot has changed and so Fiona joins us again to provide further insights into the work that she and the Institute for Family Business are doing on behalf of family businesses here in the UK. We look at the impact that COVID has had and some of the innovation that has been seen from the UK's family businesses. We discuss what policies the IFB are lobbying Government about, specifically linked to COVID and away from COVID. We also look at some of the key findings from the 2020 State of the Nation report including an increase in female leadership amongst family businesses. We look at the fact that family businesses tend not to access all of the support that is available and the impact that may be having on their finances and attitudes to taking on debt. We also cover the importance of applying for Research and Development credits Find out more about the TEDx event here: https://www.ifb.org.uk/events/tedxinstituteforfamilybusiness/ (https://www.ifb.org.uk/events/tedxinstituteforfamilybusiness/) You can read the State of the Nation report here: https://www.ifb.org.uk/media/4303/the-state-of-the-nation-2020-web.pdf (https://www.ifb.org.uk/media/4303/the-state-of-the-nation-2020-web.pdf) There is additional COVID-19 guidance for family businesses here https://www.ifb.org.uk/resources/for-owners/covid-19-guidance-for-businesses/ (https://www.ifb.org.uk/resources/for-owners/covid-19-guidance-for-businesses/) You can find the IFB on Twitter: @IFB_UK and their website is www.ifb.org.uk
On this show I am joined by Mike Kane from Turcan Connell. Mike is a corporate lawyer and works with family businesses to help them with their succession planning. In this chat we cover what considerations you might want to think over before starting the process of succession planning. We cover the aspects of an MBO, a dynastic succession and alternatives such as full sale and a sale to an employee owned trust. You can find out more about Mike here: https://www.linkedin.com/in/mike-kane-a9017125/ and more about Turcan Connell here: https://www.turcanconnell.com/
Arbikie Estate is a family-owned working farm in Scotland. This episode looks at the innovative and collaborative way that this family have been creating new products, including a carbon positive gin and vodka product. We hear about the history of the family and how the current owners returned to the business having initially pursued careers away from it. Iain Stirling describes how the collaboration happened and what others can learn from the opportunities that exist. We also discuss the impact of COVID and Brexit on the business and how they are approaching their working operations as a result. We explore the power of asking for help and being vulnerable and reaching out to your network. You can find out more about the business by heading to www.arbikie.com
Bobby Stover is America's Family Office Leader at EY. He joins us on the show this week to discuss the challenges that the COVID-19 pandemic has presented to family offices and how these are being tackled. We look at how some are adapting in different ways to others. What will the coming months and years mean for how family offices operate? How are different generations dealing with the current situation? Alongside these challenges we also discuss how best we can keep staff within a family office engaged as well as family members who may have already been struggling with feeling an attachment to the family office. What different ways can be explored to help with communication at a time when we are working more remotely.
You can find out more about Bobby here: https://www.ey.com/en_us/people/robert-a-stover
You can email him at bobby.stover@ey.com
We have spoken already on the show about the importance of looking after our wellbeing during the current COVID pandemic, and this is something that my guest this weeks feels very passionately about. Friend of the show, Mitzi Perdue joins me on this episode to talk about some of the tips she and her co-authors have shared in their book - How to be Up in Down Times. We hear about the importance of self care, the subjects to avoid talking about and negative impacts of stress. We also have a surprise phone in moment from Mark Victor Hansen himself! Mitzi also shares her passion for the fight against human trafficking and how we can all get involved in this fight. LINKS: https://mitziperdue.com/ https://www.winthisfight.org/ https://www.amazon.com/How-UP-Down-Times-Tips/dp/B087S82GWR
On this episode I am joined by Dr. Jim Grubman who is an internationally recognised consultant, speaker, and educator in the multidisciplinary field of family wealth psychology. He works with affluent families and their advisors to understand how wealth and life can be integrated successfully. On this episode we cover many different topics. We look at how different generations have reacted to recent events and experiences. We explore the role of governance and discuss what 'good governance' looks like and what it does for families in business. We explore the 'resilience' and what that really means during this current crisis. Many families are finding out what areas they have done well in and where they need to learn when it comes to both governance and succession (or transition) planning. We also look at the important role that advisers play in working with families during these transitions and the elements that make up the 'Generative Alliance' that can help family businesses to thrive. You can find out more about Jim here: www.jamesgrubman.com You can connect with him on Linked In here: https://www.linkedin.com/in/jim-grubman-80b4289/ (https://www.linkedin.com/in/jim-grubman-80b4289/) And on Twitter here: @JimGrubman Resources mentioned on the episode include this article on the Tharawat Magazine site: https://www-tharawat--magazine-com.cdn.ampproject.org/c/s/www.tharawat-magazine.com/sustain/forged-in-fire-family-resiliency-in-crises/amp/ (https://www-tharawat--magazine-com.cdn.ampproject.org/c/s/www.tharawat-magazine.com/sustain/forged-in-fire-family-resiliency-in-crises/amp/)
On this weeks show I am joined by Guillermo Salazar as we discuss what family businesses can be doing to help prepare their next generation given that we are living in turbulent times. We look at the different types of mindset that people are adopting during the COVID-19 pandemic and how this impacts your family business. In addition Guillermo talks us through a case study of a family that he has worked with to help them prepare their next generation to be owners of the business. About Guillermo Salazar Expert on corporate governance, and the strategic planning of succession and family patrimony. He has served as advisor for numerous business families on their protocols, generational transition, alignment of family vision and values for decision-making, and conflict resolution. Author of the books “Family Businesses: Tools for the Management of Love and Money” and “Handbook for the Family Business”. Lecturer and educator in the field of the family business in Latin America. Fellow member of the Family Firm Institute (FFI) in Boston, USA. Recipient in 2015 of the International Achievement Award of the Family Firm Institute. Twitter: @GuillermoExaudi Facebook: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2Fguillermo.salazar.nava&data=02%7C01%7CRuss%40familybusinesspartnership.com%7Cf4370cc5b76f4e30fab808d824d95c45%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637299863276901036&sdata=2slbqSc6n3R53mGRLnYxH1OD7LZLIibPRGh0EBojQew%3D&reserved=0 (https://www.facebook.com/guillermo.salazar.nava) LinkedIn: https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fguillermosalazar&data=02%7C01%7CRuss%40familybusinesspartnership.com%7Cf4370cc5b76f4e30fab808d824d95c45%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637299863276901036&sdata=JiDvASbfMi4IXCRrbEJmZE%2BF1P8EYD02rvBhpBtopwk%3D&reserved=0 (https://www.linkedin.com/in/guillermosalazar) Website: https://gbr01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fexaudionline.com%2F&data=02%7C01%7CRuss%40familybusinesspartnership.com%7Cf4370cc5b76f4e30fab808d824d95c45%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637299863276910993&sdata=v6rl2XbWMk4rGbr8JE0mMLeMKaGnMp%2Bmi62bjCa2AOE%3D&reserved=0 (exaudionline.com)
On this episode I speak with Dennis Jaffe. For over 40 years, Dennis has been one of the leading architects of the field of family enterprise consulting. As both an organisational consultant and clinical psychologist, he helps multi-generational families to develop governance practices that build the capability of next generation leadership and ensure ongoing capability of financial organisations and family offices to serve their family clients. We draw on Dennis' expertise and experience in this episode to look at how you re-invent your family business after the pandemic. We look at what other family businesses have done through previous crises and in particular those that Dennis has studied for his book 'Borrowed from your Grandchildren'. This looks at family businesses that have survived for more than 100 years and explores the common characteristics of these firms. In a wide ranging conversation we cover: What families can be doing now Reviewing why you are in business together The roles each generation can play How to build resilience
You can find out more about Dennis and his work by heading to www.dennisjaffe.com You can find his Linked In profile here: https://www.linkedin.com/in/dennis-jaffe-a686286/ (https://www.linkedin.com/in/dennis-jaffe-a686286/)
As we emerge from this crisis there is an opportunity to ensure continued success for your family business. Choosing the right strategy will be the difference between doing this in a way that is aligned to your values as a family, and coming across in a genuine way, compared to appearing as tone deaf and icky. Jeremy Miller is a the Founder of Sticky Branding a branding and strategy agency based in Toronto, Canada. Jeremy works with family businesses to help them to grow their brands. He used these techniques to grow his own family business before deciding to sell the business to focus on what he was passionate about. In this episode we discuss branding, strategy and give practical and real examples of businesses who are positioning themselves to thrive in an 'After-COVID' world. We also discuss succession and the role that the next generation can play in the future strategy of the business. You can find out more about Jeremy here: www.stickybranding.com If you would like to email Jeremy for his 'Green Shoots Worksheet' you can do so here: jeremy@stickybranding.com
Tsitsi Mutendi and Nike Anani are the co-founders of African Family Firms and they have arranged a virtual conference for family businesses with speakers from all over the World. Given that travel is restricted and gatherings are forbidden it may not seem the best time to be hosting a global conference. However, through the use of technology, determination and a global community of speakers and advisers Tsitsi and Nike have planned an incredible month of live and pre-recorded talks from leading experts all over the world. Throughout the month of April we will hear from speakers all over the world with guidance and advice on how to weather the current storm and come out the other side in as good a position as possible. You can find out more about the conference here: www.africanfamilyfirms.org You can connect with Tsitsi here: https://www.linkedin.com/in/tsitsi-mutendi-57a791a/ (https://www.linkedin.com/in/tsitsi-mutendi-57a791a/) You can connect with Nike here: https://www.linkedin.com/in/nikeanani/ (https://www.linkedin.com/in/nikeanani/)
We are living in unprecedented times where we are fearful for our families health, that of our own and the prospects for our businesses. It can be easy to become overwhelmed by the situation and so I offer some reasons to be hopeful in this episode. Many of the businesses that I am speaking to now are aware of and accessing the support available to them from Government and so are now finding that they have started to look at what they need to do within their businesses and within the environment they find themselves in now. In this episode I discuss some of the reasons that I am hopeful and optimistic and share some tips on how to spend any additional time that you may have as a result of the Government guidance to stay home and save lives. The link to the podcast website is www.fambizpodcast.com
We are in unprecedented times at the moment and will be facing challenges and decisions for the very first time in our lives. We have a panel of experts on this weeks show who discuss ways in which we can act that have served family businesses well during previous crises. I speak with Simone Møkster the Managing Director of Family Business Norway, Elizabeth Bagger the Director General of the Institute for Family Business, Alex Scott who is a 4th generation family business member and one of the founders of the Institute for Family Business and John Learmonth, MD of Deanbridge International and publisher of The European Family Investment Company. John has published an article that looks at what families in business can learn from the last major crisis that the world faced in World War 2. You can find the article here: You can also find more about John here: https://www.deanbridgeinternational.com/ (https://www.deanbridgeinternational.com/) You can find out more about Family Business Norway here: https://familybusinessnorway.no/ (https://familybusinessnorway.no/) You can find out more about the IFB and the work they are doing here in the UK here: https://www.ifb.org.uk/ (https://www.ifb.org.uk/) and you can find out more about Alex Scott and his business here: https://sandaire.com/about-us/ (https://sandaire.com/about-us/) As ever I am here to support you in any way I can, just drop me an email Russ@familybusinesspartnership.com
With Corona Virus impacting more and more businesses and people around World, I follow up our last episode with an interview with Martin Stepek. Martin is a mindfulness coach and also a family business expert and so can offer unique insights into how to use mindfulness at times of extreme stress. Martin's own family business went into administration in the early 2000's and he found that during that extremely difficult time he was able to use his mindfulness practice to help him through. You can find out more about Martin at the following sites: www.martinstepek.com www.tenforzen.co.uk
Corona Virus is having a huge impact on the lives of us all. It is a scary time when we are fearful for our families health and well-being and our businesses. Family businesses across the world will be trying to balance all of the conflicting priorities that exist and will need support to do so. In this episode I offer guidance as to where to get advice, where to get support and some tips on remote working and remaining positive during this exceptionally difficult time. The resources we mentioned in the episode are as follows: https://www.ifb.org.uk/advice/for-owners/covid-19-guidance-for-businesses/ (https://www.ifb.org.uk/advice/for-owners/covid-19-guidance-for-businesses/) https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response (https://www.gov.uk/government/topical-events/coronavirus-covid-19-uk-government-response) https://www.familybizunited.com/coronavirus (https://www.familybizunited.com/coronavirus) You can email Fiona: Fiona.Graham@ifb.org.uk As always you can contact me at russ@tfamilybusinesspartnership.com
Should You Hire A Website Designer or Design Your Website Yourself? In this podcast episode, we’re talking about family business websites. I’m chatting to Martin and Lyndsay, a husband and wife team, who run Jammy Digital - a https://jammydigital.com/ (WordPress Web Design Agency).
A website isn’t just a ‘shop window’, it is a tool that can generate leads and sales 24/7. Unfortunately, a lot of family businesses don’t realise the potential of their websites, and they’re often left abandoned or under-utilised.
In this episode, we tell you how you can use your website to its maximum potential. We discuss...
When to spend money on a web designer
Spending thousands on a website isn’t always the best option. In fact, Martin and Lyndsay recommend that you only invest in a website designer when you’re most likely to see a return on investment. In this episode, we discuss when to invest and https://makeyourmarkonline.net/ (when to build your own website). And the discussion may surprise you! Mistakes that family businesses make with their websites
There are some common mistakes family businesses make with their websites, which could have an impact on sales. Family business owners have a tendency to make their websites about them and their family, which is of course, important, however, this does mean that there’s a lack of focus on the potential customer. In this episode, we discuss the common mistakes family businesses make with their websites and how to fix them.
What to do if you’re on a budget with your website
People often think they must spend thousands on a website in order to get good results, but often this is not the case. Actually, it’s the work you put into the website once it’s live that makes all the difference. So we also discuss what to do if you’re on a budget with your website and how you can still get the most out of it.
When to redesign your website
A website redesign is time-consuming and costly, so you need to be careful about how often you do it. We also discuss how often you should redesign your website, or what you can do instead to see if you can increase leads and sales through your site.
Resources
https://jammydigital.com/ (Jammy Digital) https://makeyourmarkonline.net/ (Make Your Mark Online ) https://www.facebook.com/groups/1658361267780553/ (Jammy Digital Facebook Group) https://docs.google.com/document/d/1Syg19wSOFY43PPEz8AfyismFAnJa3gKdc4ZpC7UsFBE/edit?fbclid=IwAR3xZ87bbORC6bO2_8-TXwO6goFWxs4LxGL9P1eJOoztH4vfS2e3oShtqR8 (Website Questionnaire)
Kenda and Mike Macdonald own and run Automation Ninjas, a marketing automation business. Their journey into ownership wasn't a straight forward one but they have created an award winning business that creates amazing customer journeys using buyer psychology and marketing automation. In this showcase episode we discuss why your business may also benefit from understanding more about how your customers think. You can connect with Kenda here: https://www.linkedin.com/in/the-marketing-automation-expert/ (https://www.linkedin.com/in/the-marketing-automation-expert/) You can find their website here: https://www.automationninjas.com/ (https://www.automationninjas.com/)
Over the course of this series on Governance we have covered a lot of different topics and so this episode brings the series to an end with a summary of all the different governance topics and how they all knit together. Making the decision to implement any of these governance forums takes time and care and perseverance and so I discuss how to approach the discussions with your family. As ever, please do not hesitate to contact me if I can be of any assistance russ@familybusinesspartnership.com
In this episode we look at Corporate Governance and in particular the Wates Principles. The Wates Principles are a set of Corporate Governance principles that some large businesses need to report against. In this episode I discuss these principles and how they can be adapted and adopted by your Family Business. I also look at some of the legal structures that can be put in place to protect the shareholders in the business should disputes arise or deadlocks appear in your voting. You can find the Wates Principles here: https://www.frc.org.uk/getattachment/31dfb844-6d4b-4093-9bfe-19cee2c29cda/Wates-Corporate-Governance-Principles-for-LPC-Dec-2018.pdf (https://www.frc.org.uk/getattachment/31dfb844-6d4b-4093-9bfe-19cee2c29cda/Wates-Corporate-Governance-Principles-for-LPC-Dec-2018.pdf) As ever if you need any help with implementing these into your own business, I am here to help. Email me Russ@familybusinesspartnership.com or find me on Linked In 'Russell Haworth' or @RussHaworth on Twitter.
The appointment of a Non-Executive Director is a key milestone in the evolution and professionalisation of a family business. They bring experience, expertise and an independent voice to your board meetings and they are there to challenge the executive directors, in a constructive way to help you push the business towards its strategic goals. In this episode I cover who would be a good fit and who you should perhaps avoid and which characteristics and skills you would want them to bring to the party. As with any of the topics covered on the show I am here to help. Email me at russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com to find out more.
As a family business grows the need for the right forums to be in place to discuss the important strategic goals of the business is really important. Once such forum is the Board of Directors. In this episode of the show I discuss when you would want to introduce a board to the family business, and how. Who sits on the board, what are their responsibilities? How many board members should there be and how are board meetings structured. As with any of these issues, if I can be of any assistance to you and your family in introducing these forums or governance structures, please do not hesitate to get in touch russ@familybusinesspartnership.com
Continuing our look at Family Governance, in this episode I discuss the Family Assembly, or Retreat / meeting. I cover what they are, who attends them and what subjects are covered, along with some hints and tips as to how to get your own family meetings up and running. We also look at how they interact with the other elements of Governance that we have been discussing over recent episodes. As ever if you need any help putting any of this in place, please get in touch russ@familybusinesspartnership.com
Family Councils create a bridge between the business family and the family business board. In this episode of the show I explain what a family council is, what roles and responsibilities they have and how you would typically elect members to the council. I also cover the important role of the Chair of the family council, the skills they are likely to need and the way in which the Family Council interacts with the business and the family. As ever if you would like any help with establishing your own Governance, please get in touch russ@familybusinesspartnership.com
The Family Charter is the cornerstone or foundation document of a family governance system. It is the bedrock on which everything else is built. It is also known as a Family Constitution or agreement. It is the main document that the family use to outline their values and vision for the family business. Whilst rare they are gaining recognition and being adopted by many families. In this episode i explore why they are useful and how to get started with your own. If you need help with this, please get in touch russ@familybusinesspartnership or visit www.familybusinesspartnership.com for more information.
When the podcast started the intention was for it to become a valuable resource for family businesses around the world. I have a passion for providing useful content and support to family businesses and this is shared by the Institute for Family Business. With this in mind we have agreed to collaborate with each other going forward. The podcast is moving to a series based podcast with series on Governance, Succession, Family Dynamics and Family Business Theory. I will still be interviewing selected experts from around the world and showcasing the brilliant work that family businesses around the world do. Head over to ifb.org.uk to find out more about the great support that the IFB can provide you.
Governance is a word that is often thrown around by the family business advisory community and with good reason. However, it is often taken for granted what we mean by 'governance' and so to kick off this series on that very subject I thought it would be useful to provide an overview of what governance is. Why it is useful, some of the common barriers to putting governance in place and then some tips on how to get started. You can find details of the Wates Principles mentioned in the show here: https://www.frc.org.uk/getattachment/31dfb844-6d4b-4093-9bfe-19cee2c29cda/Wates-Corporate-Governance-Principles-for-LPC-Dec-2018.pdf (https://www.frc.org.uk/getattachment/31dfb844-6d4b-4093-9bfe-19cee2c29cda/Wates-Corporate-Governance-Principles-for-LPC-Dec-2018.pdf) You can also access the brilliant report from the IFB Research Foundation here: https://www.ifb.org.uk/media/4133/governance-in-family-businesses-evidence-and-implications_web.pdf (https://www.ifb.org.uk/media/4133/governance-in-family-businesses-evidence-and-implications_web.pdf)
George and I headed along to the fourth Family Business Network conference in Carlisle. It was a fantastic conference with great speakers and guests, I was also asked to record a live podcast and this is the result. I interview George Bryan who grow up at Drayton Manor Park, listen to this episode if you want to hear his views on the transitions that he has witnessed and been part of and why Toto the chimpanzee doesn't like him very much! You can find out more about the work of Sue and Dave at the Family Business Network by visiting their website here: https://fambiznet.co.uk/ (https://fambiznet.co.uk/) You can connect with George on Linked In: https://www.linkedin.com/in/george-bryan-acfba-645b8a23/ (https://www.linkedin.com/in/george-bryan-acfba-645b8a23/) You can also find out about his consultancy business by visiting www.thefbc.co.uk
Succession Planning (or continuity planning!) is such a broad topic and as such it can be intimidating and very easy to put off. In this episode I speak with Daniel Trimarchi and we break down the three core elements of succession / continuity planning in a family business. Daniel Trimarchi is a Senior Manager and Family Business specialist with KPMG, at the time of recording he was about to embark on a role with KPMG in Canada, but before he left we grabbed some time to discuss the three main elements of succession or continuity planning. Daniel can be found on Linked In here: www.linkedin.com/in/dtrimarchi You can also find out more about the work of KPMG here: www.kpmg.com/familybusiness
The Family Business sector in the UK contributes more than the annual budget for the NHS each year. Their importance cannot be under-stated and the IFB have produced a report that highlights the trends and challenges facing family businesses today. In this episode I speak to Fiona Graham of the Institute for Family Business about the findings in the report and what family businesses can learn from these findings. Fiona Graham is the IFB Director of External Affairs and Policy. She is responsible for leading the IFB’s government and media relations, and policy development. She has over a decade’s experience in policy and public affairs. Fiona also sits on the Government’s SME Advisory Board. You can find the report here: www.ifb.org.uk You can get in touch with Fiona on Linked In here: https://www.linkedin.com/in/fiona-graham-6b2a802a/
Steve's previous episode remains the most popular episode to date and so there is huge pressure on him delivering again in this show! Luckily he doesn't disappoint! In this interview I chat to Steve about the book he mentioned he was writing during our previous interview. The book is called Interdependent Wealth: How Family Systems Theory Illuminates Successful Intergenerational Wealth Transitions. The book builds on the Bowen Theory that Steve introduced us to before and looks at the actions that family's and their advisers can take to help with this transition. You can buy the book on Amazon by following the below links: UK - https://www.amazon.co.uk/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?keywords=Interdependent+Wealth&qid=1561498567&s=gateway&sr=8-1 (https://www.amazon.co.uk/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?keywords=Interdependent+Wealth&qid=1561498567&s=gateway&sr=8-1) US - https://www.amazon.com/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?keywords=Interdependent+Wealth&qid=1561498550&s=gateway&sr=8-1 (https://www.amazon.com/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?keywords=Interdependent+Wealth&qid=1561498550&s=gateway&sr=8-1) Canada - https://www.amazon.ca/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?crid=1HCXGWIAGSFQO&keywords=interdependent+wealth&qid=1561498535&s=gateway&sprefix=Interdepen%2Caps%2C200&sr=8-1 (https://www.amazon.ca/Interdependent-Wealth-Illuminates-Intergenerational-Transitions/dp/1097309096/ref=sr_1_1?crid=1HCXGWIAGSFQO&keywords=interdependent+wealth&qid=1561498535&s=gateway&sprefix=Interdepen%2Caps%2C200&sr=8-1) You can also find out more about Steve here: https://shiftyourfamilybusiness.com/ (https://shiftyourfamilybusiness.com/)
Each year The IFB hold a conference for Family Businesses and if you missed it, check out this episode to hear what the key points and takeaways were from the conference. We hear about the importance of cultivating culture and how family owned businesses are perfectly placed to create working cultures that attract and retain staff. Elizabeth Bagger is the IFB Director General. She joined the IFB in 2009 and, after having spent over seven years designing and running the IFB’s programme, she took over as Executive Director in 2016. Prior to that, Elizabeth spent three years working in international corporate governance and eight in her own family business in Denmark. You can find out more about The Institute for Family Business here: http://www.ifb.org.uk (www.ifb.org.uk) You can connect with Elizabeth on Linked In here: https://www.linkedin.com/in/elizabeth-bagger-3b91453/
One of the most common questions we are asked when considering the 'best' path for next generation family is whether or not they should seek experience outside of the family business. How do next gen go about seeking this experience and is there a danger that this will mean that they won't actually return to the family business. I chat to Andrew Keyt and address these questions in this episode. You can find out more about Andrew here: https://andrewkeyt.com/ or on Linked In here: https://www.linkedin.com/in/andrew-keyt-4b15b11/
Businesses need to take advice from experts to help them navigate the sometimes tricky areas of law, tax and financial services amongst others. Traditionally this may be through several different individual firms or that everything goes through an individual trusted adviser who is seen as the 'gatekeeper'. But is this model fit for purpose? Is there an alternative that is better aligned to your family's needs and your business needs? My guest this week thinks so! I discuss this with him on the weeks episode as we chat about the concept of Family Business Advice Teams. You can get in touch with Ken here: Ken@m-fbc.com or connect with him on Linked In here: https://www.linkedin.com/in/kenmccracken62/
Joshua Nacht is a consultant with The Family Business Consulting Group. His new book Family Champions and Champion Families he explores the value of family leaders in creating enduring business family success. We discuss this in this episode. The family champion is typically a family owner who acts as a catalyst to help other family members become more effective. In order to facilitate significant development and change throughout the family, family champions engage and inspire the family to work collectively to sustain their legacy. Ultimately, family champions create champion families. You can find out more about Joshua here: https://www.thefbcg.com/nacht/ and his book here: https://www.thefbcg.com/publications/family-champions/
There is a growing number of family offices across the world. But what are they and why would a family consider using one. In this episode I chat to Andra Ilie who works for a private or family office about the different roles that a family office can play and why they are becoming more and more popular. We look at the difference between single family and multi family offices and hear some practical examples from Andra. You can find out more about Andra here: https://www.linkedin.com/in/andralilie/ And you can find out more about the private office that she works for here: https://www.knoxprivateoffice.com/
Tom McCullough along with Keith Whitaker have created a book and podcast series that focusses on the Top 50 Questions that wealthy families ask. Tom and Keith collaborated with some of the most respected advisers in the field of family business to create this fantastic resource. In this episode I chat with Tom about the process, some of the common areas that cause concern for business families and dig in to some of the key questions. You can find out more about the book here: https://wealthofwisdombook.com/ and the link to the podcast is here: https://podcasts.apple.com/gb/podcast/wealth-of-wisdom/id1438693369
Emily Griffiths-Hamilton is a Chartered Accountant, a Family Enterprise Advisor and a Conflict Resolution Coach who brings three generations of experience to the subject of wealth and family-business transition planning. In this interview we chat about the Vancouver Canucks, the discussions Emily had with her family when she decided to leave the family business and we discuss her new book in which Emily outlines ways to ensure that your family enterprise thrives for generations. You can find out more about Emily and her work here: www.buildyourfamilybank.com A link to her book is here: https://www.amazon.co.uk/Your-Business-Family-Their-Future/dp/1773270532/ref=sr_1_1?crid=G46G8HZI5D8D&keywords=your+business+your+family+their+future&qid=1554380476&s=gateway&sprefix=Your+Business%2C+Your+%2Caps%2C630&sr=8-1
Rochelle Clarke, global strategist and business succession expert, helps family businesses overcome barriers to succession transitions. With nearly 20 years of professional experience, Rochelle combines a variety of best practices and practical solutions to balance strategic thinking and operational practicality for businesses of all sizes. Succession Strength was founded by Global Strategist and Business Succession Expert, Rochelle Clarke. With an MBA from The Wharton School of Business and experience working for international businesses including Fortune 500 companies like Accenture, IBM, and Heineken, Rochelle brings about 20 years of experience to Succession Strength. She and her team of business experts including an organizational psychologist guide family businesses through the communication, preparation and execution phases of their business transitions. We had great fun recording this episode and we discussed how expectations are managed during those sometimes difficult discussions around succession. You can find out more about Rochelle here: https://successionstrength.com/ On twitter: @SuccessionStre1 Linked In: https://www.linkedin.com/in/rochelleclarke/
The word disruption can have negative connotations, it can make you feel uncomfortable and wary. But, it can also be an opportunity to change, an opportunity to pivot and embrace change. In this episode we speak with Prof. John A Davis on MIT Sloan bout his new role, what his research on disruption shows and how firms can adapt to this. We also discuss the impact of increased longevity on family firms and tips to help. We also chat to John about what he means when he says that family business members should adopt an 'Owners Mindset. You can find out more about John and his work here: http://www.johndavis.com (www.johndavis.com) https://twitter.com/ProfJohnDavis on Twitter and; https://www.linkedin.com/in/john-davis-61aab322/ on Linked In. You can also find our more about the programs that John talks about here: Future Family Enterprise Program May 5-10, 2019 (For 2nd generation-controlled businesses or later) The Future Family Enterprise program leads multigenerational families through a stimulating week-long conversation that produces clarity on the path ahead for each participating family and its enterprise. Your family will learn practical concepts and tested practices—organized around examples of multigenerational success and failure—to aid your thinking, improve your long-term planning and alignment, and shape the roadmap of your family enterprise system. Founder to Family Program July 22-26, 2019 (For 1st generation-controlled businesses only) Successful founder–stage businesses are enviable powerhouses in many ways, but they face unique and complex challenges as they transition to the second generation of sibling owners and leaders. Given the role of the founder and the nature of sibling relationships, these first–to–second generation transitions are often complicated and emotionally sensitive experiences. They need to be pragmatically designed and sensitively implemented for the survival of the business and the unity of the family. This program explores the crucial issues, useful strategies, necessary planning, and pivotal conversations required to implement an effective handoff to the second generation—and to shape a meaningful future role for the founder.
Timpson is one of the most recognised names on the UK High Street and Sir John Timpson, as Chairman of the business founded by his great grandfather chats to us about the management style adopted at the businesses over 2,000 branches. In this interview I chat to Sir John about the history of the business, the fantastic culture that has been created and the challenges that were faced in convincing management that it was a good idea. We also talk about Sir John and his late wife, Alex. They fostered over 90 children and we discuss the synergies between the environment that he and Alex created for the children they looked after and the one created within the business. My parents fostered children when I was young so I understand the huge amount of dedication needed to do this. I have made a modest donation to The Alex Timpson Trust and would be delighted if you were able to join me. The link to make a donation is below: https://uk.virginmoneygiving.com/donation-web/charity?charityId=1013855&stop_mobi=yes
Caroline Gourlay is an independent Business Psychologist. Since qualifying in 1997 she has worked with a diverse range of organisations in the public and private sectors, either directly or as an associate of larger consultancies. In this episode we discuss the pitfalls that can impact on leadership and how to avoid these pitfalls. Some of these are specific to family business others are more general pitfalls that seem to impact on most businesses and Caroline offers some fantastic tips and practical solutions to these pitfalls. You can find out more about Caroline here: http://carolinegourlay.co.uk/index.php You can follow her on Twitter here: @CarolineGourlay Linked In here: https://www.linkedin.com/in/caroline-gourlay/ The blogs that we reference are here: https://carolinegourlay.wordpress.com/2017/06/28/six-pitfalls-of-family-business-leadership/ and here: https://carolinegourlay.wordpress.com/2014/03/31/so-youre-a-leader-what-do-you-actually-do/
Here in the UK there are some new rules coming into force in January that are primarily aimed at large privately owned businesses. This will include many family owned businesses and so we speak to Matt Timmons and Suzi Woolfson from PwC about what these changes are and what they mean for your business. If you are a smaller business that isn't affected, or based outside the UK it is still worth a listen as these rules seem to be encouraging transparency and other measures that could be adopted by most if not all businesses as part of their corporate and family governance. You can find out more about the new rules here: https://www.pwc.co.uk/private-business-private-clients/insights/corporate-governance-time-to-act.html And you can follow Suzi on Twitter here: @SuziLDavis You can follow Matt on Twitter here: @MatthewTimmons7
No business remains the same after a 100-year journey. Every long-lasting family enterprise learns how to navigate developmental and business crises as it crosses generations. Dennis' paper presents the business journeys of the nearly 100 long-lasting families in our study. Their resilience stems from continual innovation and transformation. We look at their major transformations—harvesting, pruning, diversifying and grounding—and at how the family is able to build an adaptive, sustainable culture. This was an interview originally recorded for The FFI who have very kindly allowed me to use it here - enjoy! You can find out more about Dennis' work here: http://dennisjaffe.com/ And you can buy a copy of the study here: http://dennisjaffe.com/publications/
There are lots and lots of articles and websites that rightly highlight the huge positives of working with your family, but very often we hear from people who are feeling trapped and isolated within the family business. Michael is the founder of MK Insights, LLC and has 17+ years of experience as a consultant, assessment specialist, business coach, and facilitator. In his book 'Trapped in the Family Business' Michael shares experiences of those family members he has worked with that feel trapped in the business and offers solutions to them. Feeling trapped can be turned into a positive and we discuss how in this insightful and informative episode. You can find out more about Michael and his book here: http://trappedinthefamilybusiness.com/ michael@trappedinthefamilybusiness.com
Professor John A. Davis, FFI Fellow, is a pioneer in the family enterprise field and a globally recognised authority on family enterprise, family wealth and family office topics. He has created some of the most impactful concepts and frameworks used in the field. In 2018, he joined the MIT Sloan School of Management faculty to build an innovative portfolio of family enterprise programs, after leading the family enterprise area at Harvard Business School for more than 20 years. He is also the founder and chairman of Cambridge Family Enterprise Group, where he advises some of world’s leading enterprising families. He is the recipient of the 2016 Richard Beckhard Practice Award. The Model is now 40 years old and we discuss what it is, how it can be used by families and their advisers and what future trends John sees within the world of Family Business! It was a real honour to speak to John, and his knowledge, as you would expect, is exceptional. I am sure you will love this episode and if you want to get in touch with John he can be found: Twitter: @ProfJohnDavis LinkedIn: https://www.linkedin.com/in/john-davis-61aab322/ John's website is: www.johndavis.com Link to Bivalent Attributes of the Family Firm: https://www.sehity.com/uploads/4/2/2/4/42243697/1.pdf
We often hear that family businesses can feel isolated as they do not have a support network or peers that they can speak to. The Family Business Network is a support network in Cumbria, Lancashire and now Yorkshire providing family businesses with a safe space to share their challenges. We speak to Sue Howorth and Dave Clarkson to hear about what support is available. We discuss the importance of a network that can support families on a business and individual level. The use of Insight and Fishbowl events to share experiences and the growing Family Business Conference held in October in Kendal. You can find out more about the network here: http://fambiznet.co.uk/ You can follow Sue on Twitter here: @sue_howorth The Family Business Network here: @Fambiznet Dave here: @DSC_Langleys
Ellie Frey Zagel is 3rd Generation, Vice Chair and Trustee of her family’s foundation the Frey Foundation based in Grand Rapids, MI. For nearly a decade she has been deeply involved in working with the next generation of family business, family philanthropy, and family wealth, first as Director of the Family Business Alliance and now as President of Successful Generations, a company she recently founded. We talk about the importance of raising financially responsible children and the work that she is doing with her own business and podcast series. You can find out more about Ellie here: https://successfulgenerations.com/about/ She is also on Twitter: @EllieFreyZagel Her podcast can be found here and is excellent! https://itunes.apple.com/gb/podcast/successful-generations/id1315142236?mt=2 She is also on Linked In: https://www.linkedin.com/in/ellie-frey-zagel-94762815/
Greg McCann is the founder, principal and leader of an international family enterprise consulting firm that create workshops, consults, publishes, and innovates on issues of importance to family enterprises. In this episode we draw on Greg's expertise and discuss Vertical Leadership and how we define success. We talk about why 'knowing more' is not enough for leaders in the modern world. We discuss exponential change and the impact that this is going to have on businesses. You can find out more about Greg here: http://greg-mccann.com/
Natalie McVeigh is an expert in Leadership Development, she is both a practitioner and a member of the Family Firm Institute Faculty. In this episode we discuss the use of assessments in helping to develop leaders within the Family Business. Natalie speaks to us about acumen, about where to start when looking at assessments, the role culture plays in a business and clarifies that these are assessments and not tests! We talk about attitude versus aptitude and the fact that data tells a story. We also look at the role of the coaches and mentors You can find Natalie on Linked In here: https://www.linkedin.com/in/nataliemcveigh/ You can find Natalie on Twitter here: @NMM_10
Dov Baron has twice been cited as one of Inc. Magazine’s Top 100 Leadership Speakers to hire. He is a master storyteller, who has had the honour of presenting for The World Business Conference in Tehran as well as speaking for the State Department, and The United Nations on Leadership. He is considered by many as the leading authority on Authentic Leadership, and the founder of Full Monty Leadership and The Authentic Speaker Academy for Leadership. Dov is also a bestselling author of several books. His latest book is Fiercely Loyal; How High Performing Companies Develop and Retain Top Talent. We chat to Dov about leadership and loyalty in the family business, how we can go about finding our own true meaning and purpose. You can find Dov on Linked In here: https://www.linkedin.com/in/dovbaron/ You can follow him on twitter here: @TheDovBaron You can find out more about his business here: http://fullmontyleadership.com/
Ramia is the co-founder of Orbis Terra Media, the Editor-in-Chief of Tharawat Magazine, a fellow podcast host and all round family business champion. We chat to her about the incredible resources that her and her family have created. We discuss the Tharawat Family Business Forum, Women in Family Business as well as digitalisation, trends in family business from around the world. You can find out more about Tharawat Magazine here: https://www.tharawat-magazine.com/ (https://www.tharawat-magazine.com/) You can follow them on Twitter here: @TharawatMag You can follow Ramia on Twitter here: @RamiaEl You can connect with her on Linked In here: https://www.linkedin.com/in/ramia-marielle-el-agamy-2561172/ You can listen to their excellent podcast here: https://itunes.apple.com/gb/podcast/the-family-business-podcast/id1254419214?mt=2
In 2008 Howard escaped from Grant Thornton UK LLP, where he had been a partner for over 25 years, to establish his own boutique practice. We speak to Howard about his experiences of succession planning, the good the bad and the ugly. We also discuss how to start the process of choosing a successor and the characteristics that Howard used in his days on the selection team for Partners at Grant Thornton. We ask the question of what to do if there is no one within the family who is willing to take the business on. You can get in touch with Howard on Linked In: https://www.linkedin.com/in/howard-hackney-9301b814/ On Twitter: @HowardHackney Or his website is: http://www.howardhackney.co.uk/
Ovation Finance are a firm of financial planners in Bristol. It was set up by Chris Budd and has very recently been sold to an Employee Ownership Trust. Chris talks to us about the steps that he took in order to prepare for this transition. This includes the four elements of the eternal pyramid and also the personal challenges that he faced. When considering succession planning an Employee Ownership Trust may not be something that immediately springs to mind but in this episode we look at the features, benefits and drawbacks of this option. Chris now works as a consultant helping other businesses with the process of employee onwership and you can get in touch with him on Twitter: @ovationchris His website is http://www.ovationfinance.co.uk/
Ian Marsh returns to the show for a second time following his previous discussion on episode 5 about the importance of communication. We build on that in this episode and discuss the fascinating topics he covers in his new book 'If it is so good to talk, why is it so hard?' We discuss why people put off important conversations, particularly with their families and what we can do to improve the conversations we are having. We ask what the benefits might be of daydreaming and whether it is possible to measure good communication. You can buy Ian's book here: http://good2talk.online/ You can follow Ian on Twitter: @IanAMarsh and connect on Linked In: https://www.linkedin.com/in/iamarsh/
We first met Jonathan at the FBU Conference. We had a brief chat following his presentation and during that chat I cheekily asked for a full episode and I am really pleased to say that Jonathan has agreed to a full interview. In this chat we discuss the importance of culture, the positive impact this can have on the family business and also how every business should do more to improve their local community. Jonathan speaks passionately about the family business and his enthusiasm is infectious. We speak about how he went into the loft at home as a child only to be confronted with an Alien head! We also chat about the time his grandfather was asked to paint a pig!! You can find out more about HMG Paint at www.hmgpaint.co.uk and can find them on twitter @HMGPaint
We speak with Elle Hansen, Mairi Mickel and Jim Hutcheson about the particular challenges facing family business founders when it comes to succession planning. Elle and Jim work at Regeneration Partners in Dallas, Texas and Mairi is a Family Business Consultant with her own business based in Scotland. We all got together on a Friday morning in a basement flat in London to chat over a coffee about this subject matter. We look at the challenges facing founders and the fact that the 'founder' may not always be the person who set the business up. It could be the person responsible for a period of significant growth or change within the family business. It was a really enjoyable chat and the fact that it was face to face comes across in the interview. You can find out more about Elle on Linked In: https://www.linkedin.com/in/elle-hansen-58b4302/ Mairi is on Linked In: https://www.linkedin.com/in/mairimickel/ and on Twitter: @MairiMickel You can find our more about Jim Here: http://familybusinessregeneration.com/about/our-team/james-olan-hutcheson/ and Regeneration Partners Here: http://familybusinessregeneration.com/ They are also on Twitter: @RegenPartners and FaceBook: https://www.facebook.com/ReGENPartners/
Each year Paul Andrews of Family Business United holds a conference to celebrate family business in the UK. Russ takes his roaming mic to speak to some of the speakers and delegates at this years event. We speak to Paul about Family Business United, the conference and the other initiatives that he is involved in across the UK. We also speak to some of the fantastic speakers from the event and guests at the conference to find out what they have learned from the day. You can find out more about Family Business United at www.familybusinessunited.com You can follow Paul on Twitter: @FamilyBizPaul We speak to the following speakers and guests: Peter Villax of @HovioneGroup @HMGPaints @SianSteele EasiGrass, Juliette Johnson, Corbett Keeling
Thursday 8th March is International Women's Day and so I chat with Jo MacSween about her role with Women's Enterprise Scotland, Vistage and her own experiences in her families business, MacSween Haggis The hashtag for International Women's Day is #pressforprogress and we speak about what we can all be doing to help support this. There are loads of tips in here for budding female entrepreneurs You can find out more about Jo on LinkedIn https://www.linkedin.com/in/jomacsween/ On Twitter @JoMacsween https://twitter.com/JoMacsween Or you can email her jo.macsween@oranconsulting.com Websites http://www.vistage.co.uk/ (www.vistage.co.uk) https://www.wescotland.co.uk/ #HopeFor2018 https://www.internationalwomensday.com/ #pressforprogress
Russ, is a Chartered Financial Planner and advises family business owners on how to achieve & maintain financial independence. Succession planning comes with many barriers and challenges and financial independence is one of them. In this episode we discuss why it is important and how to start your own journey towards financial independence. You can find out more about Russ on Linked In: https://www.linkedin.com/in/russellhaworth/ Twitter: https://twitter.com/RussHaworth And Proposito Financial Planning Ltd: www.proposito.co.uk
Ever wondered why your Mum or Dad won't discuss succession? Are you a business owner but scared of what life outside the business may look like? This episode is for you! We speak with Dr Allie Taylor of OrangeKiwi, a consultancy business based in California. Allie has recently completed her PhD and used her dissertation as the basis for a white paper that looks at the character traits and behaviours of entrepreneurs who may struggle with business transitions. Allie explains these traits and you may recognise them in you or a loved one. We also discuss what can be done to help deal with these. Allie can be reached at www.orangekiwillc.com and the white paper we discuss can be accessed via that site also. OrangeKiwi are @orangekiwillc on Twitter
In this interview with Martin Stepek we explore many of the challenges that families in business together face. The story of how Martin's father came to Scotland is one full of difficulty and tragedy and the challenges of his father's childhood stayed with him his entire life. Martin discusses the heartbreaking realities of having to wind up the business and the effect that had on the family, both positive and negative. Martin also discusses how he came across Mindfulness and the scientific benefits of practicing mindfulness. We talk about how we should be defining success and how this may seem counter intuitive to many Martin also discusses his role with the Scottish Family Business Association and how they support Scottish Family Businesses. You can read about Martin's father's journey from Poland to Scotland via Soviet gulag's, an incredibly moving story. http://www.bbc.co.uk/news/uk-scotland-21994150 You can find out more about Martin here: https://www.martinstepek.com/ He is on Linked In: https://www.linkedin.com/in/martin-stepek-b122b614/ He is @MartinStepek on Twitter and has a website dedicated to Mindfulness here: http://tenforzen.co.uk/
Mark Bergman is a serial entrepreneur and invented HANDypaint Products whilst painting his basement. The initial inspiration was a coffee can and some duct tape! The business is now a $15m business based in Minnesota and Mark has appointed Jeff as the firms President as part of his succession plan. Mark's children work within the business and now effectively report into Jeff. We discuss how this works and what issues (if any) they encounter. We also discuss the culture that has been nurtured at Bercom Inc. and how this helps with recruitment of staff, creating an enjoyable working environment and helping the business to thrive. Mark discusses how he achieves a sense of purpose outside of the business, a key factor in a successful succession. You can follow HANDypaint Products on Twitter: @handypaint You can follow them on Facebook: https://www.facebook.com/handypaintpail You can check out Mark, lounging in a pool here: http://www.bercomincorporated.com/brush-up-on-us/the-bercom-gang-2/
Josh Daspit is an Assistant Professor at Mississippi State University and has a passion for understanding the factors affecting family businesses ability to innovate. Josh explains how the research that is undertaken by academics such as him can be applied to family businesses and help them to thrive. We explore which differences family businesses display between those that can successfully innovate and those that can't. We also discuss where simplified or watered down versions of the research that is being undertaken can be found. Josh and his colleagues actively encourage collaboration between them and family firms so if you would like to get in touch with him you can do so via Twitter: @JoshDaspit Linked In: https://www.linkedin.com/in/joshdaspit/ Josh is also the Social Media Editor of The Family Business Review and you can find this on twitter: @FBRJournal
Ernst and Young conducted some research into the role of women in family businesses to see if they were leading the way or lagging behind non family owned enterprises. In this episode we speak to Kim Harland of www.insights.org.au a not for profit, educational resource for family businesses based in Australia. She has produced an e-book based on the research and interviewed female leaders of family businesses from across the world. We discuss many issues and challenges around gender equality and what family businesses can be doing to ensure equal opportunities exist within the family business. We also ask Kim a question she asked her own interviewees 'What advice would you give to your 25 year old self?' You can find out more about Kim on Linked In https://www.linkedin.com/in/kimharland/ and you can download her e-book here http://www.insights.org.au/women-in-family-business
Family business is in my blood. I grew up with the family businesses owned by my father and grandfather. And like you, I am a family business owner, as well as being a family business consultant for those wanting to resolve conflict. Leading my consulting business and being the manager of our family and coach for our family’s company, I have gained a lot of personal insights in every part of family firms. We discuss intuitive conflict resolution, what role structure can play in helping to avoid conflict and what to do when it gets to the point the conflict is unlikely to be resolved easily. If you would like to know more about Doris you can find her on Linked In https://www.linkedin.com/in/dorisscheibenbogen-64018029/ FaceBook: https://www.facebook.com/doris.scheibenbogen and at her website here: www.dorisscheibenbogen.com
It all started back in 1989 when a much less dishevelled Grant and John gave up fencing and landscaping for the Shedlife. Locals would come to John looking for something better than your average shed, something worth more than a neglected garden utility. Gillies and Mackay is now managed by Cara. Her goal is simple – to make her Dad (John) and Grant proud by building on the reputation they’ve worked so hard to achieve. We hear how she’ll do that in this episode. We also hear about Cara's move into the Management of the business and how she balanced this with a degree and being a Mum. Cara also shares her experience of 'going viral' on Linked In following the use of a few swear words in a post on the platform. Cara is an inspirational business owner and her passion and honesty come through in this interview. You can find out more about Cara here: http://www.gilliesandmackay.com/about/ You can follow her on Twitter @NattyShedGirl, on Linked in here: https://www.linkedin.com/in/cara-mackay-996aa41b/ and you can read the infamous post here: https://www.linkedin.com/pulse/how-work-from-home-cara-mackay/
Leon Fear started his first small business whilst at school, buying and selling mountain bikes and bicycle components and selling them mail order and direct to the trade. Joining the family business at 19, Leon started in construction, working on-site tiling, fitting kitchens, painting and decorating and laying flooring before moving in to a short period in estate agency, property management and later in to property development. In this episode we speak about his Dad's incredible story and how Fear Group got started. We speak about their unique relationship and how they manage to stay best friends despite (or maybe because) being in business together. We also talk about the importance of optimism! You can find out more about Leon here http://www.feargroup.com/about-us/about-leon/ and follow him on Twitter here: @LeonFear
Mitzi Perdue knows that every family business has a culture. The question is, does this culture come about by design or by default? The ones that come about by default rarely support keeping the family business in the family across the generations. So, what can a family do to develop and strengthen a culture that will support their deepest goals and values? Mitzi Perdue draws on the experience of her family of origin, the Henderson Estate Company which dates back to 1890 and was the forerunner of the Sheraton Hotels (her father was co-founder of the chain). She also looks to her marital family (she’s the widow of Frank Perdue from Perdue Farms) that began in 1920. In both cases, family members in each generation put enormous effort into creating and maintaining strong, values-based cultures. Her talks stem from her lifelong observations not only of how her two families have kept together over a combined total of 224 years, but she’s also closely observed how other high net worth families, often ones she’s known since childhood, created and continuously strengthen positive cultures. She’s also observed almost countless cases where families that lacked a supportive culture failed spectacularly. You can find out more about Mitzi here: www.mitziperdue.com @MitziPerdue on Twitter and https://www.linkedin.com/in/mitziperdue/ on Linked In You can buy her book on Amazon here: https://www.amazon.co.uk/Make-Your-Family-Business-Last/dp/1884108075/ref=sr_1_3?ie=UTF8&qid=1513287373&sr=8-3&keywords=Mitzi+Perdue or the discount link we speak about is here: www.mitziperdue.com/discount
In the late 1800s, Harry Schweid started selling high quality meats to butchers and restaurants in New York City’s Lower East Side. By the 1930s, his son Sam had his own business in Harlem, selling the best meat around. In 1978, Sam’s son David Schweid took his family’s long withstanding heritage in the meat purveyor industry and founded Schweid & Sons, a company that would focus on one product – ground beef. Today, that same passion, commitment and work ethic is carried on here at Schweid & Sons through David and his two sons Jamie and Brad, all with a dedication to producing the best tasting, highest quality Burger. In this episode we talk to Jamie about his experiences growing up in the business and how they have ensured that family values remain part of the business today despite its size and global reach. You can find out more about Schweid and Sons here: www.schweidandsons.com @SchweidAndSons on Twitter and; https://www.instagram.com/schweidandsons/?hl=en
Max Gosselin joined his Mum and Dad'd cheese business and started working on the most successful sales route in the firm, just before the busiest time of the year. It didn't start well. He was the first sales person in the businesses history to achieve negative sales figures in the run up to Christmas. Using determination and a thirst for learning he decided to learn as much as he could about sales and cheese and turned his fortunes around. He became the No1 sales person the following year and then began implementing some changes. We hear the rest of his fascinating story in this episode and Max shares with candid honesty the lessons he has learned from his family business experiences and how these might help other family businesses. You can get in touch with Max here: email maximepg14@gmail.com LinkedIn https://www.linkedin.com/in/maxime-paulhus-gosselin-86681450/
Vincent Valeri is a Certified Family Legacy Coach and uses his own experiences within his family business to help to prepare families for wealth transfer. Vincent shares his own story and how the experiences he had within his family business and how being given a Porsche for his 16th birthday has given him an analogy that he now uses with the families he works with. Vincent shares his story with a candid honesty and we speak about the poor statistics around the survival rates of family businesses worldwide. You can find out more about Vincent here https://www.linkedin.com/in/vincentvaleri/ and on Twitter @valeri79 You can also read the blog on Mitzi Perdue's site here: http://mitziperdue.com/need-family-legacy-mindset/ Vincent's business site is here: https://www.vedaera.com/
We talk about their story and the successful transition from Heather's father to Heather. We also discuss Heather's relationship with the staff, who in many cases she has grown up with, and how her changing roles have impacted these. 'The Little’s story spans five decades – and two generations. As a family business, we benefit from being able to innovate and quickly adapt to the changing needs of our clients, ensuring we provide the very best service at all times. Indeed, that is what has driven our enviable business growth. We are still proudly headquartered in Scotland today, and our award-winning team, some of whom have worked with us for over 20 years, provide our clients with an exceptional service no matter where in the world they are travelling.' You can find out more about Heather by visiting their website http://www.littles.co.uk (www.littles.co.uk) or on Linked In https://www.linkedin.com/in/heather-matthews-902a3321/ and Twitter @LittlesCars
In this episode Mark shares his own family business story and how after he sold his family business he wanted to help other people to avoid the issues he faced in his business. One of the key tools that Mark uses with his coaching clients is 'Motivational Maps' we discuss this and my own motivational map! 'Through my own business learning curve, I discovered ‘Motivational Maps’, which have provided me with a valuable change management tool. Amongst other benefits, Motivational Maps help to; Identify Key issues Facilitate communications Implement Reward Strategies.
I would encourage you to use this tool for your own business to optimise your own performance as well as your staff or team. A key aspect in helping individuals or teams perform is ensuring that they are motivated. Motivational factors stem from self-beliefs, expectations and personalities and will always be an important determinant for success. Addressing an individual’s motivation factors can be the key to unlocking high performance for their own development initiative or for establishing their ‘best fit’ in a team.' http://1stclasscoachingsolutions.com/ https://twitter.com/markterrell376 (@markterrell376)
Buying or leasing a commercial property can be a big decision for family businesses to make, there are pro's and cons to each of these options. In this episode we talk to Jess Booz from VWV about the common pitfalls, the benefits of owning a commercial property within the business or individually and some of the things to think about before taking the plunge. If you would like to get in touch with Jess she can be found here: https://www.linkedin.com/in/jessicabooz/ You can find out more about VWV here: https://www.vwv.co.uk/law-sector/family-owned-business @VWVFamilyBiz
Ken McCracken has worked in the field of Family Business for many years. He is head of Family Business consulting for KPMG and works with families in business and family offices to improve their overall family and business governance and helps them to plan for effective transitions in ownership and leadership. Ken shares his knowledge and experience in this episode where we focus on the sometimes tricky area of succession planning. It can often seem intimidating and easier to put these discussions off so we provide you with some tips as to how to start. You can find out more about Ken on KPMG's website https://home.kpmg.com/uk/en/home/contacts/m/ken-mccracken.html You can also reach Ken on Twitter @kenmccracken26 and on Linked In https://www.linkedin.com/in/kenmccracken62/
The Bowen family systems theory is a theory of human behaviour that views the family as an emotional unit and uses systems thinking to describe the complex interactions in the unit. To me that sounds pretty complicated but Steve manages to explain in a way that makes the theory easier to understand. Steve also shares his own story about growing up in a family business. Steve's website is http://shiftyourfamilybusiness.com/ If you would like to know more about Bowen Theory you can read about it here http://thebowencenter.org/ If you would like to follow Steve on Twitter, his 'handle' is @FamilyLegacyAdv and you can search for him on Linked In.
Maria Villax is a third generation member of a very successful multinational family business. However, she does not work within the family business but has an active role with its governance. For Maria, this a perfect balance. If you were born into a family business you will understand that a decision will need to made (if it hasn't already) to either join or not join the family business. There is a 'third' way. You can contribute to the business, be valuable resource for the business and yet follow a dream you may have away from the family business. This balance may be rare, but it is achievable and Maria explains her role both within and outside the family business. You can find out more about Maria and get in touch, here https://www.linkedin.com/in/mariavillax/ http://www.hovione.com/
Succession planning is one of the biggest issues faced by families in business. In this episode Mairi speaks to us about her own experiences within her family business and in her current role as a family business consultant. We speak about what steps can be taken to ensure a successful transition from one generation to the next. This was a really enjoyable and insightful chat You can find out more about Mairi here: http://businessfamilies.co.uk Twitter: @Mairi_Mickel
This week we are joined by Coach Pete Walsh from Phoenix Arizona For over 20 years, Pete Walsh has been helping people reach new levels of results by mixing fun, hard work, and an unwavering commitment to personal development. Pete provides Executive and Business Coaching for leaders and teams that are committed to reaching the highest levels of business results and personal satisfaction. We talk about deliberate practice, a method adopted by elite athletes and musicians to hone their skills and how this can be adopted by family businesses to help them to thrive.
In this episode we talk to Kitty Rosser, a data protection lawyer about new Data Protection laws that are coming into force next year. The implications of this legislation will affect your business so it is important to understand what you need to do. Kitty covers this. You can find more about the new rules by following https://ico.org.uk/for-organisations/data-protection-reform/overview-of-the-gdpr/ and you can find out more about Kitty and Birketts below. http://www.birketts.co.uk/our-lawyers/norwich/kitty-rosser http://www.birketts.co.uk/insights/legal-updates/gdpr-countdown-to-compliance
We often hear that family businesses feel alone and that they are the only one's experiencing their particular challenges. As such it can be reassuring to hear what challenges other businesses like yours are facing. PwC conduct a survey that looks at the global trends in Family Business and the results are discussed in this podcast with PwC's Head of UK Family Business, Sian Steele. Sian shares her experience of working with family enterprises and offers some great insights into how many of these challenges can be overcome. You can find the full survey results by following the link below and get in touch with Sian on Twitter. https://www.pwc.co.uk/private-business-private-clients/insights/family-business-survey-2016-17.html @SianSteele @PwC_UK
Communication is an essential part of the success of any business. When you throw family into the mix it can become all the more important. In this episode we talk to Ian Marsh from www.familydr.co.uk who works with families in business in helping them to communicate. This excerpt from Ian's website summarises his work 'Family dynamics need constant active management. All the available research suggests that the solution is to "communicate, communicate, communicate", but it turns out that is much easier said than done.'
Getting the balance right between the tax advantages and the potential downsides associated with certain business structures can be tricky when first establishing a business. Nick Smith talks in this episode about the importance of structure and some of the unintended consequences that can result from simple tax structures.
On this episode Fiona Graham, Director of External Affairs and Policy at The Institute for Family Business provides us with a great insight into the role that the IFB play in the UK championing UK family businesses. We discuss trends, common challenges, Government policy and much more. You can get in touch with Fiona or the IFB via Twitter: @IFB_uk Phone - 020 7630 6250 Email - info@ifb.org.uk