Episode 68: Entrepreneurial Family Business: From Survival to Success with Dr. Dianne Welsh, Distinguished Professor of Entrepreneurship at the University of North Carolina Greensboro

Our guest today is Dr. Dianne Welsh. Dr. Welsh is a known scholar in entrepreneurship, family business, and franchising at the University of North Carolina Greensboro. She grew up in her family business, Boyt Division of Welsh Sporting Goods.

Dr. Welsh has published 130 journal articles and eight books, including the go-to book for cross-campus entrepreneurship programs, Creative Cross-Disciplinary Entrepreneurship.

In this episode of Family Business Today, you will learn:

  • How growing up in her family business influenced her thoughts on the cross-sector of entrepreneurship and family business

  • What the difference is between learning about entrepreneurship and learning about business

  • How a family business can create an environment for entrepreneurship to flourish beyond the first generation

  • What a NextGen leader can do to help their family business survive past the first generation

  • Is there an indicator for family business success?

  • And more…

Dr. Dianne Welsh is the author of Entrepreneurial Family Business: From Survival to Success.  Her book focuses on the role of innovation in the development and longevity of her family business, Boyt®. It highlights the integral roles that each person plays in the success of a business and emphasizes that each role deserves respect and praise. To get your copy, visit Entrepreneurial Family Business.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 67: Join me at a storied family-owned pub, Bumpa’s, located in the historic French Quarter, Charleston, South Carolina, where everybody knows your name

Our guests today are brothers, Dan and Conor Sullivan, owners of Bumpa’s, in Charleston, South Carolina. Bumpa’s serves up specialty French fries, proprietary-blend burgers, and other elevated bar food in tribute to their grandfather, “Bumpa”.

In this episode of Family Business Today, we will share:

  • How their experiences working somewhere else helped prepare them to launch a family-owned business

  • What the founding principles their business is built on and how they maintain them on a daily basis in their work

  • Learn how two brothers communicate with each other to ensure business success

  • The “rules” they have in place when conflict arises

  • How they survived as a restaurant during COVID

  • Advice to siblings who are considering working together in a family business

  • Like their food, what are the secret ingredients for establishing boundaries between work and business relationships

  • What the future looks like for Bumpa’s

  • And more…

To learn more about Bumpa’s, visit their website at Bumpa's .

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 66: Planning Your Family Business’ Path to Long Term Success with Pete Walsh, Master Coach, with the Family Business Performance Center in Peoria, Arizona

Our guest today is Pete Walsh, Master Coach, with the Family Business Performance Center in Peoria, Arizona. Pete spent 16 years working in his 89-year-old family business and knows firsthand the challenges most family businesses face.

Today Coach Pete provides honest and objective feedback that helps families work better together as high-performing teams and reach new levels of success.

In this episode of Family Business Today, you will learn:

  • What some of the most common obstacles family business leaders face

  • How should next gens answer the question “Is the family business the right place for me?”

  • Are there family situations that are irreconcilable?

  • How coaching is different from counseling or consulting

  • Trends that are helping or hurting business transitions to the next generation

  • And more…

Pete Walsh is the author of Family Business Playbook, Your Family’s Path to Long-Term Success. To get your copy, visit Family Business Playbook. To learn more about Family Business Performance Center, visit their website at Family Business Performance Center.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 65: What is the Role of Spouses in a Family Business? with Sara B. Stern

Our guest today is Sara B. Stern. Sara is a Certified EOS Implementer with EOS Worldwide focused on multigenerational family businesses.

As the former director of the Family Business Center at the University of St. Thomas, trained coach and Certified EOS Implementer, Sara works exclusively with a limited number of family business leaders who want to maximize the impact they have on their companies, families, and communities.

 In this episode of Family Business Today, we will share:

  • How to decide on an appropriate, constructive role for you as a spouse in your family business.

  • How you can help your spouse keep boundaries between family and business as clear as possible.

  • What role a spouse should take when dealing with sibling rivalries and parent/child disputes in your business.

  • What should a spouse consider before joining their spouse in the family business.

  • And more…

You can find Sara B. Stern’s book, Married to the Family Business: A Handbook for Spouses of Family Business Owners, at Amazon.com, and to learn more about Sara and her business, visit her website at Sara B. Stern.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 64: The Multi-Generational Family Business Behind Some of the Biggest Concert Productions in North America Today with Bob Romeo, Chairman of Romeo Entertainment Group in Nashville, TN

Our guest today is Bob Romeo, Board Chairman, Romeo Entertainment Group, Nashville, Tennessee. Bob followed in the footsteps of his father, Don Romeo, who founded Romeo Entertainment Group in 1954. Today the 3rd generation, RJ Romeo and Michelle Romeo, are managing the daily operations of REG.

Romeo Entertainment Group is a full-service entertainment agency. For more than 65 years they have managed talent buying for fairs, festivals, clubs, casinos, corporate and rodeo events.

 In this episode of Family Business Today, we will share:

  • How Don Romeo started the family business in 1954 and what Romeo Entertainment Group does today.

  • Stories about working with acts from Lassie and the Three Stooges to the Rolling Stones and nearly every country act.

  • Why it was important to Don and Bob for the company to remain a family business and prepare it for transition to the next generation.

  • Why it is important for business owners to be storytellers.

  • Advice to a family business owner who may be considering inviting their children to join the family business.

  • What the future looks like for Romeo Entertainment Group.

  • And more…

To learn more about Romeo Entertainment Group, visit their website at Romeo Entertainment Group.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 63 : A Five Generation Family Business Shaping Solutions for Tough Raw Materials with Mac Steele, President, JC Steele & Sons

Our guest today is Mac Steele, President of JC Steele & Sons, Statesville, North Carolina. 

Mac along with his cousin, Marian Steele Clark, joined the family business in 2010 founded by their great-great grandfather, JC Steele, in 1889.  Mac oversees all worldwide sales and customer service.

JC Steele & Sons is the corporate parent of The Steel Group and the global leader in stiff extrusion machinery and solutions for customers in heavy clay, iron & steel, ferro alloys and gypsum/wallboard.

In this episode of Family Business Today, Mac will share:

  • The story of how JC Steele started the family business in 1889 and what JC Steele does today.

  • Why it is important to remember and share your legacy and values to today’s family members, team members and customers.

  • The importance of crafting a clear, compelling vision and getting stakeholder buy-in for your business success.

  • What some of the challenges and benefits of working with siblings and cousins in a family business.

  • What questions a next generation family member should ask before joining the family business.

  • What the future looks like for JC Steele & Sons.

  • And more…

To learn more about Mac Steele and JC Steele & Sons, visit their website at www.jcsteele.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business….We Know!

Episode 62: The Soul of Family Business; Creating and Preserving a Truly Healthy Family in Business with Tom Hubler, Hubler for Business Families

Our guest today is Tom Hubler. Tom began his family business consulting practice in 1980. As an experienced senior consultant, he has counseled more than 500 private family businesses over the course of his career. Tom helps families strengthen connections and eliminate barriers to healthy, productive family and business relationships

In this episode of Family Business Today, Tom will share:

  • The importance of family values, love, and heritage in building a strong family business

  • What is the Secret Sauce to use in your business?

  • When a family business owner has difficulty letting go, how do their highly developed skills at doing the business impact the entrepreneur’s self-image?

  • What some of the actions are that often derail family-owned business during the transition process

  • What can a family business leader be doing now in planning for an eventual business transition?

  • Why is it important to have a third-party unbiased advisor involved in the planning process?

  • And more…

To learn more about Tom Hubler and Hubler for Business Families, visit www.tomhubler.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business….We Know!

Episode 61: Economic Outlook for 2023 – Greg Young, Senior Investment Strategist, Bernstein Wealth Management, Dallas, TX

Our guest today is Greg Young, Senior Investment Strategist, with Bernstein Private Wealth Management in Dallas, Texas. Greg provides thought leadership on market, investment and asset allocation issues and oversees Portfolio Manager communications to both internal and external constituencies.

In this episode of Family Business Today, Greg will share:

  • Why investments have taken a hit in 2022.

  • Will 2023 be a better year for the stock market?

  • Inflation rates have continued to be the headlines. How bad will inflation get?

  • Will higher interest rates be a short-term fix for inflation or a long-term solution?

  • Is there any good news out there?

  • And more…

To learn more about Bernstein Private Wealth Management, visit their website at www.bernstein.com

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business, Like Family Business…. We Know!

Episode 60: Buy-Sell Agreements, The Last Will & Testament for Your Business with Paul Hood

Our guest today is Paul Hood with Paul Hood Services located in Sylvania, Ohio. Paul is an author, a speaker, and an advisor to family owned businesses.

Paul obtained his undergraduate and law degrees from Louisiana State University and a Master’s degree in taxation from Georgetown University Law Center. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law.

Paul is a highly sought-after speaker and consultant due to his innate ability to see through complexities and explain difficult and even boring subjects in understandable and entertaining language. He minces no words in doing so.

Paul has authored or co-authored nine books and over 500 professional articles on estate and tax planning and business valuation. Paul is the author of Buy-Sell Agreements, The Last Will & Testament for your Business as well Yours, Mine, & Ours, Estate Planning for People in Blended or Stepfamilies.

Both books can be purchased on Amazon Books or at his website paulhoodservices.com

In this episode of Family Business Today, Paul will:

  • Expand on this importance of Buy-Sell Agreements

  • Encourage family businesses to have a facilitator at business meetings

  • Touch on how blended families can prepare for estate planning

  • Share why kids (of all ages) should be involved in business meetings

  • And more…

You can find out more about Paul Hood here. To learn more about his books, click here.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

Would you like the opportunity to be in a small group community of like-minded family business owners/leaders and get access to years of experience and wisdom from other family business executives just like you?

If you answered yes, I would like to invite you to consider joining a family business mastermind group. To learn more visit our website at www.thefamilybusinessmastermind.com.

Until next time, There’s No Business Like Family Business…..We Know!

Episode 59: Why do Family Businesses need a Board of Directors? with Tom Bakewell, author of Claiming Your Place at the Boardroom Table

Our guest today is Tom Bakewell. Tom is an Independent Director at First Bank, a family-owned 100+ year old bank serving family businesses in the Midwest and California. His consulting includes many private companies, small-cap public companies, top nonprofits, historic 4th and 5th generation family businesses, employee-owned, private equity, and start-ups across multiple industries in the US and internationally.

Tom is the author of Claiming Your Place at the Boardroom Table: The Essential Handbook for Excellence in Governance and Effective Directorship. It is #1 on Amazon in governance.

In this episode of Family Business Today, Tom will:

· Expand on one of his governance definitions – “Governance is experiential, and reality based”

· Share how bringing independent advisors in can offer wisdom, challenge the group, and set high standards

· Explain the difference between Family Council, Family Assembly, and a Board of Directors

· Share what to look for in a Board Member such as diverse backgrounds and people who have accomplished similar goals in their business lifecycle

· And more…

You can find out more about Tom Bakewell here. To learn more about his book, visit Claiming Your Place at the Boardroom Table.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

Would you like the opportunity to be in a small group community of like-minded family business owners/leaders and get access to years of experience and wisdom from other family business executives just like you?

If you answered yes, I would like to invite you to consider joining a family business mastermind group. To learn more visit our website at www.thefamilybusinessmastermind.com.

Until next time, There’s No Business Like Family Business…..We Know!

Episode 58: Combining Irish and German Approaches to Education of Next Generation Family Business Leaders with Dr. Susan Walsh

Our guest today is Dr. Susan Walsh. Susan started her career in banking and worked in retail, corporate and private banks for 11 years in both the North and South of Ireland. She then moved into academia and held a fellowship at the Dublin Institute of Technology. After moving to Munich in 2004, Susan founded Globe Business College and has spent the last decade and a half perfecting a unique education model that centers on one-on-one, customized business education for the sons and daughters of family company owners. Today, she divides her between the College, speaking events to promote the need for relationship-based education in a digitalized society and working at a strategic level in both Ireland and Europe on the future of education.

In this episode of Family Business Today, Susan will share:

  • How the idea for Globe Business College began with a desire to combine the logical processes of German businesses with the dynamic skills of Irish businesses

  • How the college has evolved and provides customized learning on a one-to-one level as the students and world change over time

  • That a key to the longevity of Germany family businesses, also known as the Mittelstand, is that they are often specialists in one product

  • How early graduates of GBC are seeking continued relationships and character development outside of a traditional degree as they face challenges in their family businesses

  • How a challenge for early graduates of GBC is now being the bridge between senior management and the new generation

  • And more…

You can find out more about Dr. Susan Walsh at https://dr-susanwalsh.com/.  To learn more about Globe Business College visit https://globe-college.com/.   

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 57: How a Virginia Peanut Changed an Industry and Created a Family Legacy, Hubbard Peanut Company with Marshall Rabil

Our guest today is Marshall Rabil. Marshall serves as the Sales and Marketing Director of Virginia-based and family-owned Hubbard Peanut Company, which his grandmother and grandfather founded nearly 70 years ago. Named one of Inside Business’ 40 Under 40 in 2019, Rabil helps lead the company with a big heart for his community and his multifaceted experience ranging from sustainable development studies to leading student groups internationally.

In this episode of Family Business Today, Marshall will share:

  • How the specialty peanut company Hubs got its start with Marshall’s grandmother Dot, her unique recipe, and a unique Virginia peanut

  • The steps Hubs has taken to expand from their homegrown roots while staying connected to the legacy and the community of Sedley, Virginia

  • About his background in international teaching, community development projects, specialty grocery, sustainability, and service

  • That an important part of a succession plan is clear communication of goals, of timelines, and of how the baton will be passed to the next generation

  • The opportunities Hubs has for the business and the people of the business to give back to their community

  • And more…

To learn more about Marshall Rabil and the Hubbard Peanut Company, visit https://www.hubspeanuts.com/

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 56: What’s in Your Cup? A Cup of Coffee/Tea and a Conversation with Bill Smith, Royal Cup Coffee & Tea and Double Iron Consulting

Our guest today is Bill Smith. Bill Smith has been involved with his family business for over 30 years. Royal Cup Coffee & Tea has been in his family since his grandfather bought the company in 1950.  In 2014, Bill was promoted to the President and CEO role, following his uncle and moving the guidance of the business to him as a third-generation leader. Bill launched Double Iron Consulting in 2021 to serve and help small to medium-sized businesses and family business owners and executives clarify and achieve their goals.  He understands what it’s like to be in their position and knows the care that goes into a business, especially when it’s a family business.

In this episode of Family Business Today, Bill will share:

  • His grandfather’s passion for buying, owning, and running a business, which started the Smith family legacy in Royal Cup Coffee & Tea

  • How his 25 years in the family business began with learning how to roast coffee at 16 and lead to his work in the company’s national infrastructure

  • The value of providing immersion opportunities to the next generation when it comes to learning and developing passion for the family business

  • How important it is for a family business to respect both the family aspect and the business aspect when growing the company

  • How family business owners need to give themselves the time to successfully transition their business to avoid reactive or rushed transition

  • And more…

To learn more about Bill and his business Double Iron Consulting, visit www.doubleironconsulting.com/.   

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 55: How to Be a Leader in the Boardroom and the Living Room with Deena Chochinov

Our guest today is Deena Chochinov. Over the last 30 years, Deena has worked as a therapist, management consultant and family enterprise advisor with people and organizations seeking meaningful change. Her rare skill set enables her to strengthen family businesses on a strategic level, while ensuring that healthy interpersonal dynamics support a firm’s continuity and prosperity. As a family facilitator, Deena works with multi-generational families who seek the tools and techniques to make smart decisions, manage conflict effectively and develop strong, lasting relationships. She is based in Vancouver, Canada.

In this episode of Family Business Today, Deena will share:

  • How her parents’ family business and her experience as a therapist and management consultant led her to family business enterprise consulting

  • How difficult it is to move family businesses forward without proactivity, planning, and awareness

  • How family business members need to know “what hat they’re wearing when” as they manage their home and business balance

  • How to have success in the family business and harmony at home while being the same person

  • A story of three retirement-reluctant brothers who successfully transitioned their family business after forty years as owners

  • And more…

You can find Deena Chochinov’s book, HomeWork, at Amazon.com, and to learn more about Deena and her business, visit https://www.deenachochinov.com/.   

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 54: Living Your Vision Now with Larry Olsen of Aperneo

Our guest today is Larry Olsen. Larry Olsen is CEO and creator of Aperneo and is an international speaker, author, podcast host, and executive coach. He has years of experience working with Fortune 50 companies, championship teams, and entrepreneurs on establishing their vision and sense of purpose. Larry is passionate about providing individuals and teams quick, actionable guidance on how to break ingrained, ineffective habits that they did not even know were holding them back.

In this episode of Family Business Today, Larry will share:

  • How our success in business and in life is tied to learning how to change the way we think

  • That whatever is on our on minds is all we see

  • That one hundred percent of our performance is dictated by our attitude

  • How most of use are going into life looking backward

  • What it means to live your vision now

  • And more…

You can find out more about Larry, his firm, his book Get a Vision and Live It, and The Mindset Playbook podcast by visiting his website at https://www.larryolsenlive.com/ .   

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 53: Tailoring the Family Business Legacy with John and Daniel Stewart of Stewart Leadership

John and Daniel Stewart joins our host Greg Lewis on this week’s edition of Family Business Today. John is the founder and CEO of Stewart Leadership. Stewart Leadership is recognized internationally for its feedback assessments, training tools, and solid, results-focused coaching services designed to guide teams and individuals to adapt, grow, and reach new levels of performance. John lives with his wife, Debra, near Portland, Oregon and has four sons and sixteen grandchildren.

Daniel is a sought-after talent management and leadership development consultant and coach, and he leads Stewart Leadership’s extensive consulting practice, business development, and international partnerships. Daniel lives near Milwaukee, WI with his wife, Katie, and their 4 children.

In this episode of Family Business Today, John and Daniel will share:

  • How Daniel and his brother came to grow the business John founded

  • That the key to family business success is to recognize the strengths of every individual and capitalize on them

  • That effective leadership is directly related to the strength or weakness of relationships

  • That the most important element in transitioning a family business to the next generation is passion for the business

  • How to allow the next generation space to tailor the family business legacy

  • And more…

You can find out more about John, Daniel, their firm, and their many publications, webinars, and resources by visiting their website at www.stewartleadership.com/.   

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business…..We Know!

Episode 52: Preserving Families and Perpetuating Family Businesses with Dave Specht

In this episode of Family Business Today, Dave will share:

  • That family businesses should take every opportunity to be proactive in preparing the rising generation, whether or not they enter into the family business

  • How family businesses need to become less informal and more professional over time

  • That success needs to be defined personally and intentionally for every family business generation

  • How running event simulations can help a family business see what decisions are wrapped up in one member of the business

  • That the rising generation needs to feel what it feels like to be an owner before they take over the family business

  • And more…

Episode 51: Optimizing Your Family Business Exit with Marvin Storm

In this episode of Family Business Today, Marvin will share:

  • That every business exit is different, as family business entrepreneurs don’t voluntarily exit their businesses often

  • That for family businesses the hardest decision to make is when to step away

  • How having an exit timeline already in place while you run your family business can help you optimize your returns

  • How having a general timeframe changes the daily decisions you make in your family business

  • That the best time to start thinking about the future is now

  • And more…

Episode 50: Guiding a Family Business Through a Family Divorce with Karen McMahon

In this episode of Family Business Today, Karen will share:

  • How many individuals involved in a divorce will let reaction and ego move them farther from what they want after their divorce

  • How the emotional drain from a divorce can lead individuals to show up as their less-than-best selves in their family businesses and in the divorce process

  • Her upcoming series on divorce and family business, set for 2022

  • What adult children working in a family business can do to continue to work with their parents during and after they divorce

  • How to choose the right legal representation for your divorce by asking what divorce method, communication approach, and experience you are looking for

  • And more…

Episode 49: Preserving Your Legacy and Wealth with Steven Goodman

In this episode of Family Business Today, Steven will share:

  • How many family business owners put off planning for ownership in the future to avoid family conflict in the present

  • That establishing planning begins with a founder who is willing to plan

  • The details surrounding transferring your family business to non-family owners

  • How to avoid common tax pitfalls in buy-sell agreements

  • How to choose the right guardians and trustees and ask the right questions when making a will

  • And more…