Let's Talk Family Enterprise Family Enterprise Canada
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Lets Talk Family Enterprise explores global ideas, concepts and models related to family enterprise advising. Brought to you by Family Enterprise Canada, specifically created for FEA designates and members of Family Enterprise Canada.
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59: Mental Health Impacting Intergenerational Wealth Transfers
In this episode, Aileen Miziolek talks with bestselling author and award-winning speaker, Dr. Thomas Deans, about the impact of mental health on intergenerational wealth transfers and how it led him to write his new book, The Happy Inheritor: How Successful Families Prepare Heirs and Transfer Wealth.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Tom Deans
Dr. Thomas William Deans is the author of the all-time best-selling family business book, Every Family’s Business, listed by The New York Times as One of the Top Ten Books Business Owners Should Read. He followed that book with another international best-seller, Willing Wisdom, and his third book, The Happy Inheritor. He speaks full-time on the international lecture circuit.
Having delivered more than 2000 keynotes in 28 countries on four continents, Dr. Deans has built an international reputation as a thought leader on transitioning family wealth.
You can learn more about Tom Deans on his website and LinkedIn.
Key Takeaways
[:26] Aileen Miziolek welcomes Tom Deans to the podcast and asks him to share what led him to write his latest book, The Happy Inheritor.
[5:12] Dr. Deans shares his frustration around inaction when it comes to succession planning and what personality disorders might have to do with it.
[7:15] The one personality disorder that may spell business success might also cause serious family trouble.
[9:40] Personality disorders are a spectrum, and everyone exhibits some disordered traits.
[12:27] Dr. Deans shares how families can address succession head-on to avoid surprises and some warning signs to watch.
[16:48] What a facilitator can do to help families and why family advisors might want to get them involved early.
[21:00] Family meetings and advisors aren’t only for the centi-millionaires anymore.
[23:08] What cognitive dissonance is and how it paralyzes people’s decision-making process.
[28:00] Succession stress goes both ways and the next generation has a price to pay.
[31:47] Dr. Dean’s advice for advisors.
[36:34] Aileen Miziolek thanks Dr. Tom Deans for sharing so much of his knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Happy Inheritor: How Successful Families Prepare Heirs and Transition Wealth, by Dr. Thomas William Deans
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58: Sustainability and ESG in Family Enterprises
Host Steve Legler speaks with Professor Pramodita Sharma about sustainability and how family enterprises are uniquely placed to take advantage of business trends in this area. Pramodita shares inspiring stories based on her research, and points family businesses and their advisors into some promising directions.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Pramodita Sharma is the Schlesinger-Grossman Chair of Family Business at the Grossman School of Business, University of Vermont. She is a Research Fellow at the Thomas Schmidheiny Center for Family Enterprise at the Indian School of Business, and an advisory board member of the Jönköping International Business School (JIBS), Sweden. Among the highest-cited scholars in family business studies, her research on succession, governance, innovation, next-generation commitment, entrepreneurial leadership, and sustainability in/by family enterprises has appeared in journals like the Academy of Management Learning & Education, Entrepreneurship Theory and Practice, Family Business Review, Journal of Business Ethics, and Journal of Business Venturing, among others. Experiences and close interactions with her own family’s enterprises help keep her professional work grounded in the realities and complex dynamics of these fascinating enterprises that dominate the economic and societal landscape around the world.
You can learn more about Pramodita Sharma on the Grossman School of Business at the University of Vermont’s website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Pramodita Sharma and asks her to share an overview of her upcoming lecture at the Family Business Symposium focusing on the meaning of sustainability and the paths we can take to action.
[4:11] Sustainability is a journey that begins with awareness; Pramodita shares what phases come after.
[6:10] Family enterprises have a unique advantage regarding sustainability; the key is in the upcoming generations.
[9:09] Pramodita talks about the pioneering companies already taking advantage of their unique position.
[12:43] Sustainability as an antidote to the pressures of succession.
[15:04] The journey to a purpose-driven life through sustainability business practices.
[16:45] Case studies have proven to be a formidable multi-tool; Pramodita explains how she uses them and where the experience has been richest.
[19:35] Pramodita shares her hope for case studies in Canada and takes a moment to share a personal story.
[23:21] Is there an age or gender to the sustainability charge?
[27:39] The case competitions Pramodita organizes.
[32:20] Pramodita’s reading recommendation and advice for advisors.
[34:33] Steve thanks Pramodita Sharma for sharing her research and knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Circular Economy Handbook: Realizing the Circular Advantage, by Peter Lacy, Jessica Long, and Wesley Spindler
Ellen MacArthur Foundation
Museum of Science + Industry Chicago: Extreme Ice Exhibit
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
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57: The Family Office Navigator
In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel's recent book, Family Office Navigator. Together, they highlight the critical role advisors can play when business families consider setting up a family office or want to take a fresh look at what they currently have in place.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Peter Vogel is a Professor of Family Business and Entrepreneurship. As an expert on family enterprises, he leads IMD’s work in this field as Director of the IMD Global Family Business Center and Debiopharm Chair of Family Philanthropy. He works with families, owners, boards, and executives of family enterprises and family offices around the world focusing on transformations, governance, ownership and leadership succession, wealth management, fostering entrepreneurialism and innovation within the system, and establishing professional boards and leadership teams.
You can learn more about Peter Vogel on the IMD website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Peter Vogel and asks him to talk a little bit about how he and his organisation became involved in the family business space.
[3:10] Peter touches on how family enterprises and offices are a worldwide trending challenge.
[5:24] The Navigator concept was built for enterprising families, Peter explains how it eventually grew to be used by advisory positions also.
[9:10] Setting up a family office is a complex process, but it can also be the ecosystem by which families can manage wealth effectively.
[13:00] Keeping in mind that family offices will evolve alongside the families that build them; the focus needs to be on what works for them.
[16:34] When it comes to thinking of family offices, who needs to be at the table?
[19:53] A family office has to be designed to work for the family, Peter explains how the downloadable .pdf framework can help achieve that.
[22:06] From the family office to other models, Peter explains why and how they are branching out into new frameworks.
[25:45] The how of a family office isn’t the starting point and Peter offers how advisors can better guide families through the learning process.
[28:27] Peter talks about the importance of experimenting, learning, and developing best practices for families.
[31:22] Peter shares his book recommendations as well as his advice for advisors.
[35:33] Steve thanks Peter Vogel for sharing so much of his expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Peter’s recommendations:
Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise, by Josh Baron and Rob Lachenauer
Africa Is Not a Country: Notes on a Bright Continent, by Dipo Faloyin
FEX podcast episode #23: “Family Business Ownership: Four Rooms and Five Rights, with Josh Baron”
The Family Office Navigator: Your Guide to Building a Multigenerational Family Office, by Peter Vogel and Mario Marconi
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
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56: The Link Between Family Business Research and Advising
Ambreen Bhaloo, Family Enterprise Advisor, guest hosts this episode and welcomes Francesco Barbera, Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management for an in-depth discussion on the issue of homogeneity (all family firms are the same) vs. heterogeneity (all family firms are unique). In what ways does family governance lead to greater firm performance? Listen to this episode to find out!
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Dr. Francesco Barbera is an Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management at Ryerson University. His teaching and research interests encompass a wide range of topics related to family business, entrepreneurship, small business management, and family business education. Francesco is an international, award-winning author and educator and regularly presents at renowned conferences and workshops.
You can learn more about Dr. Francesco Barbera on the Toronto Metropolitan University School of Management website and on his LinkedIn.
Key Takeaways
[:26] Ambreen Bhaloo welcomes Dr. Francesco Barbera and invites him to share a little bit about his research interests and how they inform family advising.
[5:22] Dr. Barbera explains the importance of heterogeneity research when it comes to family enterprises and what this means for advisors.
[7:50] A recently published research explores how family structures impact the way governance leads to performance, Dr. Francesco shares some of the findings.
[11:07] Dr. Barbera explains what family functioning is and why it affects firm performance.
[16:11] The future of family business research looks heterogeneous; Dr. Francesco shares the areas of study he sees coming up next.
[20:23] Staying up to date on the latest academic knowledge will require work on the family advisor’s part.
[24:00] About Dr. Barbera’s work with the Family Institute.
[27:18] Dr. Francesco Barbera’s advice for advisors.
[27:48] Ambreen thanks Dr. Francesco Barbera for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary, Alberta.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
“Family governance and firm performance: exploring the intermediate effects of family functioning and competitive advantage”, Francesco Barbera and Tim Hasso, November 2022, Journal of Family Business Management 13(2)
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
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55: Rising Gen Innovation and Creativity in Family Business
In this episode, Host and Family Enterprise Advisor, Aileen Miziolek, talks with Purpose & Identity Coach Perry Gladstone about how family businesses benefit from NextGen innovation and creativity while sharing solutions that allow all parties involved to find the agency and support they need to make it happen.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[:26] Aileen Miziolek welcomes Perry Gladstone, purpose and identity coach, and asks him to share a little bit about his varied entrepreneurial background.
[4:58] Upcoming generations bring many new identities to family enterprises. Perry shares how this affects companies and how to integrate them best.
[7:51] Starting with values exercises is something Perry does not do; he explains his primary focus and why this technique can prevent conflict through trust-building.
[10:51] Perry speaks to the fear everyone carries in times of change and how facilitation fosters the safety of all participants.
[13:03] Individual work cannot be underestimated in strengthening the family enterprise structure.
[15:44] Perry shares what the dreaming together tool does that the value exercise doesn’t.
[17:37] New generations inevitably come with innovation; Perry shares where he has seen the most success in fostering innovative ideas.
[19:34] Tension between two factions can be mitigated by slowing down time and allowing for experimentation.
[21:59] Perry recaps how strength is built in a family system.
[23:13] Perry discusses the role of the third entity as it relates to ownership.
[24:40] Business owners vs. enterprising family; Perry shares how this might be the first thing to address.
[28:24] Perry shares his recommended resources.
[29:58] Aileen thanks Perry for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
You can contact Perry on his website PerryGladstone.com.
FAST & HOT: How to Open Hearts, Win Minds and Create a Better Life in Business, by Perry Gladstone
Deconstructing conflict: Understanding Family Business Shared Wealth and Power, by Doug Baumoel and Blaire Trippe
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
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54: 2023 Retrospective
In their traditional annual “retrospective” episode, hosts Steve Legler and Ruth Steverlynck discuss highlights from some of the episodes that debuted in 2023, hoping to stimulate listeners to re-listen for great content they may have missed the first time.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[:26] Ruth Steverlynck guest-hosts this 2023 retrospective with host Steve Legler to discuss highlights from some of this year’s best episodes.
[1:23] Episode 50 featured video and guests Jim Grubman, Dennis Jaffe, and Kristin Keffeler, and makes Steve’s must-watch list, Ruth touches on the positive discovery process.
[6:50] Episode 46 was one where Ruth had the absolute pleasure of hosting Jay Hughes, discussing a wide range of topics, the Foundation named in his honor, and the wonderful things that it will be producing.
[11:36] Episode 44 set the stage for a discussion with Coventry Edwards-Pitt on the often-overlooked significance of the prenup. Steve shares his thoughts on what the episode revealed.
[15:40] Episode 47 dove into the work of Dr. Paul Hokemeyer on the unique type of isolation wealth brings along. Ruth shares some of the enlightening thoughts on growth she garnered from this episode.
[21:14] Episode 51 highlighted one of this year’s new guest hosts: Ambreen Bhaloo and her guest Mike Sergeant. Steve and Ruth send some flowers their way.
[24:23] Episode 52 was Aileen Miziolek’s turn to host her first guest Marita Fridjhon, Steve shares how he and Aileen met and why she was chosen as a female voice for the Let's Talk Family Enterprise podcast.
[26:40] Episode 49 was one of Ruth’s favorites; she shares which takeaways and nuggets she still thinks about from David York’s interview.
[30:35] Ruth and Steve share their current favorite resources for 2024.
[33:39] Steve takes a moment to thank Ruth for launching this podcast project, now that she is stepping into different roles, and signs off until 2024.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Purposeful Planning Institute
The Wealth of Wisdom Podcast
The Wealth of Wisdom book
Episode 50: Wealth 3.0
Episode 46: In Conversation With Jay Hughes
Episode 44: Prenuptials: Engaged Healthy, Wealthy and Wise
Episode 47: Fragile Power: Why Having Everything Is Never Enough
Episode 51: Communication Dynamics in Business Families
Episode 52: Working With Systemic Change in Family Business
Episode 49: Stewardship for Enterprising Families
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