The Family Business Podcast Russ Haworth

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
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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
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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
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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
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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.htmlanddata=04%7C01%7CRuss%40familybusinesspartnership.com%7C5f389aa42b44445a445208d8e4b5788c%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637510815366300921%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000andsdata=RDFG%2FTQ%2BDjsnzD6uA0Zl7Mr7iyNsiDvVOQq0SZxpSLM%3Dandreserved=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.htmlanddata=04%7C01%7CRuss%40familybusinesspartnership.com%7C5f389aa42b44445a445208d8e4b5788c%7Ced114aa32143426d8a82e3851f091c9a%7C0%7C0%7C637510815366310875%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000andsdata=8C9CN1JJ3ZBGd0ITEQycw0U8cFEamq1zQLCPRA6Yhdw%3Dandreserved=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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A look at the Ten Domains of Family Wealth with Jim Grubman from the Ultra High Net Worth Institute