The Family Biz Show

Michael Palumbos
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Join host Michael Palumbos and new guests every episode as they talk about everything from navigating family business transitions, wealth transition, business growth strategies, family conflict, leadership and team development and more. Don't forget to share your favorite episodes with others. Tag us with #thefamilybizshow! If you're a family business or a family business consultant and want to be on the show, share your story and help other family businesses, send us an email to producer@thefamilybizshow.com or visit us at The Family Biz Show | Family Business Podcast With Michael Palumbos (familywealthandlegacy.com) to fill out our web form! Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.

  1. 5D AGO

    Built To Last: Sustainable Success For Family-Owned Construction Businesses | The Family Biz Show Ep. 132

    Growth can look like success from the outside. But inside a family-owned construction business, growth can also create pressure, confusion, and decisions the original business model was never designed to handle. "You built something successful, but why does it feel harder to run?" "Why is every decision still coming back to you?" "How do you pass the business forward without damaging the family?" "What happens when wealth grows faster than communication?" "Are your advisors solving separate problems, or helping you see the whole picture?" This conversation gives you the answer. In this episode, Michael Palumbos leads a powerful discussion on what it really takes to build sustainable success in family-owned construction businesses. The conversation explores why many construction companies outgrow the systems, leadership habits, and informal family assumptions that helped them succeed in the first place. You'll hear from Ricky Stellar, Roey Diefendorf, Jerry Aliberti, and Anthony DiTucci as they unpack the hidden pressures behind growth: owner dependency, unclear roles, siloed advisors, family expectations, succession tension, and the need for stronger governance. This is not just a conversation about revenue. It is a conversation about leadership, trust, communication, ownership, and the future of the family enterprise. Ricky Stellar brings the perspective of a wealth advisor helping families coordinate planning, ownership, taxes, and long-term financial decisions. Roey Diefendorf shares deep experience as a fourth-generation family business leader and advisor focused on preparing families, not just assets, for generational transition. Jerry Aliberti brings operational insight from his work with construction companies, helping leaders develop stronger teams, accountability systems, and scalable structures. Anthony DiTucci offers a practical view of what happens inside family-owned construction businesses when leadership, planning, and people systems are not clear enough to support the next stage of growth. At the heart of this episode is a simple but powerful idea: what got the business here may not be enough to carry it forward. The founder's hustle, instincts, and relationships may have built the company. But sustainable success requires a business that can operate through systems, leadership, communication, and shared alignment. You'll also hear why preparing heirs matters as much as preparing wealth, why the owner bottleneck can quietly limit growth, and why successful families need to coordinate the business, the wealth, and the family together. This episode gives you practical, real-world insight into how family-owned construction companies can move from reactive pressure to intentional planning. You'll learn how to spot the warning signs before they become crises, how to think about succession with more clarity, and how to build a company that can last beyond one person. In This Episode, You'll Learn: Why growth changes more than the business itself How the owner bottleneck limits sustainable construction business growth Why family-owned construction companies need clearer roles and stronger leadership systems How siloed advisors can create risk for successful business-owning families Why succession planning must address emotions, communication, and family expectations How preparing heirs helps protect both wealth and relationships Why governance matters for multi-generational family businesses How coordinated planning supports long-term family business continuity Why employees need clarity during leadership transitions How to start thinking about the business, wealth, and family as connected systems If your family-owned construction business is growing, transitioning, or preparing the next generation, this episode will help you see the pressure more clearly. And once you can see it clearly, you can start building something stronger. Not just a successful business. A family enterprise built to last. For more conversations on family business growth, succession, leadership, and legacy, explore more episodes here: https://www.familybusinessflywheel.com/podcast

    56 min

  2. MAY 5

    What Wealthy Parents Must Teach Their Children Early | The Family Biz Show Ep. 131

    If you are raising children in a wealthy family, you may wonder how to give them opportunity without taking away their drive. This conversation helps you understand what children need to learn early so wealth becomes a source of responsibility, not entitlement. "I want my kids to appreciate what they have." "I don't want comfort to make them soft." "How do I talk about money without saying too much?" "How do I raise grounded children when life is already easier for them?" "What if I'm accidentally making things too easy?" This conversation gives you the answer. In this episode of The Family Biz Show, Michael Palumbos speaks with Jeff Savlov of Blum & Savlov about how wealthy parents and family business leaders can raise children with responsibility, gratitude, and character. Jeff explains that children can understand more than adults often assume, especially when parents use simple, age-appropriate stories to connect wealth with work, values, fairness, and purpose. Jeff Savlov is a family dynamics and family wealth coach who works with families navigating wealth, communication, parenting, and legacy. In this conversation, he shares practical examples of how parents can begin shaping a child's understanding of money long before trusts, inheritances, or financial statements enter the conversation. The core insight is simple but powerful: a parent's job is not to remove every challenge from a child's life. It is to give them the right amount of responsibility, struggle, and support so they can build resilience. When wealth makes life too easy, children can miss the everyday lessons that create confidence, accountability, and emotional maturity. You'll hear how small actions — cleaning up toys, caring for a plant, contributing to family chores, paying for part of a car, or understanding the story behind a family business — can teach children where money comes from and why responsibility matters. Jeff also shares a memorable example of how to explain family wealth to a young child through the story of a grandmother who built a cookie company from her kitchen. It is a clear reminder that children do not need complex financial details. They need stories that help them understand work, fairness, gratitude, and stewardship. In This Episode, You'll Learn: Why wealthy parents should start teaching responsibility earlier than they think How to explain family wealth to young children without overwhelming them Why making life too easy can weaken resilience and motivation How chores, small jobs, and everyday expectations build character Why children need to connect money with work, values, and gratitude How family business parents can enjoy wealth while still raising grounded kids Why parents must understand their own money stories before shaping the next generation How trusted relationships help children talk honestly about difficult topics Wealth does not have to create entitlement. With intention, honesty, and the right kind of challenge, parents can help children grow into grounded, capable, and responsible people who understand both the privilege and the purpose of what they have been given. Learn more about The Family Biz Show and explore additional family business resources here: https://familybusinessflywheel.com/podcast/the-family-biz-show

    48 min

  3. APR 20

    The $84 Trillion Opportunity Most Family Businesses Are Missing | The Family Biz Show Ep. 130

    You can build a successful business… and still lose the family along the way. Most family business transitions don't fail because of one catastrophic mistake. They fail because of small conversations that never happened. Because leadership wasn't prepared. Because expectations were never aligned. Because no one wanted to ask the hard questions. "What happens when I step away?" "What if my kids don't want the business?" "How do we protect both the company and the relationships?" "Why does every conversation about succession become emotional?" This conversation gives you the answer. In this episode, Michael Palumbos brings together the Family Business Flywheel team for a powerful discussion on the $84 trillion generational wealth transfer now underway — and why family businesses face far more than a financial transition. This conversation explores the hidden risks that threaten multi-generational family businesses: communication breakdowns, leadership gaps, governance failures, liquidity challenges, and unresolved family dynamics. The panel shares real-world stories of successful businesses that struggled during transition — and examples of families who created clarity, alignment, and continuity across generations. Featuring insights from wealth strategist Dianna Parker, family dynamics expert Shawn Barberis, transition advisor Dan Prisciotta, and family business strategist Richard Bryant, this episode blends practical business strategy with the emotional realities of family enterprise leadership. You'll hear why succession planning is not a one-time event… but an ongoing process of preparing both the business and the family for long-term success. More importantly, you'll learn why communication is often the single biggest factor separating thriving family enterprises from those that break apart during transition. This episode also explores: Why many founders struggle emotionally with letting go How governance creates stability during leadership transitions Why next-generation leaders need accountability and development How family businesses can preserve both enterprise value and family relationships Why unresolved communication becomes a long-term business risk In This Episode, You'll Learn: Why most family business transitions fail long before ownership changes How communication impacts succession planning outcomes Why leadership readiness matters more than timing alone How governance structures reduce family conflict Why founders often struggle with identity during transition How successful families prepare rising-generation leaders Why family alignment is critical for long-term continuity How to think about succession as enterprise growth, not exit planning The families who navigate transition successfully don't simply transfer wealth. They transfer clarity, purpose, communication, leadership, and trust. And that changes everything. Learn more about The Family Biz Show and explore additional family business resources here: https://familybusinessflywheel.com/podcast/the-family-biz-show

    1h 2m

  4. MAR 30

    The Family Business Problems Legacy Can Solve | The Family Biz Show Ep. 129

    Most conversations about family business problems focus on what's broken—conflict between generations, lack of succession clarity, or stalled growth. But what if many family business problems aren't caused by dysfunction at all? What if they're caused by something far less obvious—and far more fixable? In this episode of The Family Biz Show, Michael Palumbos sits down with second-generation owner Ed Delia to explore a different lens: many family business problems are not operational failures. They are translation failures. They come from businesses that have built something meaningful over decades—but have never learned how to express that value in a way the market understands. This shift in perspective changes everything.   The Hidden Nature of Family Business Problems One of the most important insights from this conversation is that family business problems often hide in plain sight. Leaders assume their challenges are tied to strategy, execution, or market conditions. But in many cases, the real issue is far more foundational. Family businesses frequently undersell themselves. They describe their legacy in ways that feel meaningful internally—but fail to build trust externally. Saying "we've been around since 1946" may feel like a strength. But to a modern buyer, it doesn't answer the only question that matters: Why should I trust you today? This is where many family business problems begin. Not because the business lacks capability—but because it lacks clarity in how that capability is communicated. Why Legacy Creates—and Solves—Family Business Problems Legacy is one of the most powerful assets a family enterprise has. It represents consistency, trust, relationships, and accumulated experience. Yet when poorly framed, that same legacy can become the source of family business problems. Ed shares a simple but powerful example. Instead of leading with how long a company has existed, he reframes the conversation around proof—what the company has actually done over time. In one case, a business shifted from saying "since 1946" to highlighting that it had produced over 24,000 custom components. That change transformed perception instantly. This is the paradox: legacy can either create family business problems or solve them—depending on how it is positioned. When legacy is translated into proof, it becomes a growth driver. When it remains abstract, it becomes invisible. The Real Gap Behind Family Business Problems As the conversation unfolds, a deeper pattern emerges. Many family business problems are not rooted in poor performance. They are rooted in a disconnect between how the business sees itself and how the market sees it. Inside the business, everything feels normal. Processes are routine. Capabilities are expected. Standards are simply "how we do things." But from the outside, those same behaviors often represent a significant competitive advantage. The problem is not that family businesses lack differentiation. The problem is that they fail to recognize—and articulate—it. This is why so many family business problems show up as stalled growth, missed opportunities, or difficulty attracting the next generation of customers. The value exists. It's just not being communicated effectively. The Role of Transition in Amplifying Family Business Problems Generational transition is one of the most critical moments in any family enterprise—and one of the most common times for family business problems to surface. As leadership changes, so does the environment around the business: New buyers enter the market Expectations shift Communication channels evolve If the brand and messaging do not evolve alongside leadership, the business creates friction for itself. Ed describes this as a form of drag—a business moving forward operationally while its identity remains stuck in the past. This is why many family business problems intensify during succession. The next generation is ready to lead. The business may even be strong. But if the story hasn't evolved, the market struggles to connect with what the company has become. Why Family Businesses Still Hold the Advantage Despite these challenges, family enterprises possess advantages that many other organizations cannot replicate. Their long-term perspective, deep relationships, and values-driven approach create a foundation of trust that is difficult to match. In fact, these strengths are exactly what private equity firms are increasingly drawn to. But those advantages only matter if they are visible. When properly articulated, they solve many family business problems: They accelerate trust They strengthen positioning They create continuity across generations Without that articulation, they remain hidden—and the same family business problems persist. A Better Way to Think About Family Business Problems One of the most practical frameworks from this episode is deceptively simple: Every initiative—especially in marketing and growth—should answer one question: Will this deepen an existing relationship, or create a new one? If the answer isn't clear, the initiative is unlikely to solve real family business problems. This principle reinforces a broader truth: family businesses are not just operating companies. They are relationship-driven enterprises. And most family business problems arise when that reality is overlooked. The Path Forward: Translating Legacy Into Growth At its core, this episode is about reframing how leaders think about family business problems. The instinct is often to fix, optimize, or restructure. But in many cases, the solution is simpler—and more strategic: Clarify what makes the business truly different Translate legacy into tangible proof Allow the next generation to express that story in a modern way When those elements align, many family business problems begin to resolve naturally. Because the business was never the issue. It was how the business was being understood. Final Thought Most family business problems are not rooted in weakness. They are rooted in untapped strength. Legacy, when left unexpressed, creates confusion. But legacy, when clearly articulated, becomes one of the most powerful tools a family business has—not just to preserve what was built, but to drive what comes next.

    58 min

  5. FEB 28

    Common Mistakes During Family Business Estate Planning | The Family Biz Show Ep. 128

    What if the biggest threat to your family business legacy isn't taxes, markets, or competition… but the way your estate plan was designed? This episode challenges one of the most accepted beliefs in family wealth: that family businesses inevitably fail by the third generation. "Why does it feel harder to talk about wealth with my kids than it does to build the business?" "How do I prepare the next generation without losing control?" "What if my estate plan is protecting the money… but hurting the family?" "Why do successful business leaders struggle with family transitions?" This conversation gives you the answer. In this powerful discussion, wealth psychologist Jim Grubman joins Michael Palumbos to unpack the hidden mistakes many families make during estate planning and generational transition. Together, they explore how fear-based planning models often create rigidity, conflict, and emotional distance inside successful family enterprises. Rather than focusing only on protecting assets, Jim explains why families must learn to adapt, communicate, educate, and evolve if they want wealth and relationships to survive together across generations. Jim Grubman is an internationally recognized wealth psychologist, author of Strangers in Paradise, and co-author of Wealth 3.0 alongside Dennis Jaffe and Kristin Keffeler. He is one of the leading voices in the field of family wealth, generational transition, and family enterprise dynamics. At the center of this conversation is one transformational idea: Families do not succeed by freezing the past. They succeed by adapting to the future. The episode explores why many traditional assumptions around "shirtsleeves to shirtsleeves" and wealth failure are built more on stories than proven reality—and what successful families do differently instead. You'll also hear practical insights on: parenting and wealth preparing heirs for leadership emotional intelligence in family businesses balancing control with trust creating healthier family communication In This Episode, You'll Learn: Why traditional estate planning can unintentionally damage family relationships How fear-based succession planning creates long-term conflict Why "shirtsleeves to shirtsleeves" is not inevitable How successful family businesses adapt across generations Why parenting and communication shape wealth continuity How to prepare heirs instead of simply protecting assets Why curiosity matters more than control during family transitions If you want your family business legacy to survive beyond financial structures alone, this episode offers a healthier and more sustainable way to think about wealth, leadership, and family continuity. Listen to more episodes and resources here: https://www.familybusinessflywheel.com/podcast

    52 min

  6. FEB 13

    How to Grow a Family Business Without Breaking The Family | The Family Biz Show Ep. 127

    What if you could grow your family business without losing the relationships that matter most? Too many family businesses succeed financially while quietly falling apart personally. This episode explores how to avoid that. "I feel like the business is creating distance in my family." "Growth is bringing more pressure and conflict." "How do we scale without losing trust?" "I don't want success to come at the expense of relationships." "Can family and business actually work together long term?" This conversation gives you the answer. In this episode, Christina Armentano, Chief Marketing Officer and third-generation leader at Paraco, shares how her family business has grown into one of the largest privately held propane distribution companies in the Northeast while protecting the relationships and values that built the company in the first place. Christina explains why exposure to the business at a young age mattered, how outside work experience shaped her leadership, and what family businesses often misunderstand about growth, succession, and long-term stewardship. The conversation reframes growth not as a threat to family unity, but as something that requires intentional leadership, communication, and shared values. Christina Armentano is the Chief Marketing Officer at Paraco and a third-generation leader in one of the largest privately held propane distribution companies in the Northeast. She has helped lead the company through growth, acquisitions, and leadership evolution while maintaining a strong focus on culture, legacy, and long-term family business stewardship. One of the biggest reasons family businesses struggle during growth isn't strategy—it's misalignment. As businesses scale, communication gaps, unclear expectations, and unresolved family dynamics often grow too. Christina shares how intentional leadership, outside experience, and strong values can help families grow the business without breaking trust along the way. This episode delivers practical lessons for family business owners navigating growth, succession, acquisitions, and next-generation leadership. You'll hear real-world insights on building credibility, preparing future leaders, maintaining culture during expansion, and balancing business performance with family relationships. Christina explains why earning experience outside the family business gave her the confidence and credibility to lead when she returned. In This Episode, You'll Learn: Why family businesses struggle during periods of growth How outside experience strengthens next-generation leadership Why culture becomes critical during acquisitions and expansion How early exposure prepares future family business leaders Why long-term stewardship changes leadership decisions How to protect relationships while scaling the business You don't have to choose between building a successful business and protecting your family relationships. With intentional leadership, communication, and shared values, it's possible to grow across generations while staying connected to what matters most. 🎧 Listen to more episodes here: https://www.familybusinessflywheel.com/podcast

    56 min

  7. JAN 31

    Family Business Governance That Actually Works Across Three Generations | The Family Biz Show Ep. 126

    What if family business governance was less about formal rules—and more about having the right conversations before things break? If you work with family, you know the tension can feel personal fast. "Why does a small disagreement turn into something bigger?" "How do we keep family roles and business roles clear?" "What happens when the next generation wants to grow differently?" "How do we honor the founder without staying stuck?" This conversation gives you the answer. In this episode, you'll hear from Peter Roberti of Adrian Jules, a third-generation custom clothing company with more than 60 years of history. Peter shares how his family works through leadership, succession, planning, communication, and growth while staying committed to craftsmanship, service, and family connection. Peter Roberti is part of the next generation at Adrian Jules, a Rochester-based custom clothier with retail and wholesale divisions. He works alongside family members across the business and also serves as president of the Custom Tailors & Designers Association. The core insight is simple: family business governance works when people are clear about roles, willing to ask for input, and brave enough to talk about hard things early. This episode gives you practical lessons you can apply right away—especially if your family is navigating growth, transition, leadership differences, or tough conversations. In this episode, you'll learn: Why clear roles help reduce family business conflict How tough conversations protect both the business and the relationship Why legacy should guide growth, not prevent it How next-generation leaders can balance heart, data, and discipline Why client experience becomes harder—and more important—as you scale This is a hopeful conversation about building something that lasts, without losing the relationships that matter most. Listen to more episodes and resources here: https://www.familybusinessflywheel.com/podcast

    52 min

  8. JAN 20

    What Makes a Family Business Last Across Generations | The Family Biz Show Ep. 125

    What actually keeps a family business alive across generations? And how do you protect both the business… and the family relationships that come with it? "Why does succession feel so complicated?" "How do you prepare your kids without creating entitlement?" "What happens when family dynamics start affecting business decisions?" "How do you know if the next generation truly wants this life?" This conversation gives you the answer. In this episode of The Family Biz Show, you'll hear the powerful story of Domenic Cortese and Cortese Construction Services — a family business that began with two immigrant brothers working factory jobs and evolved into a thriving multi-generational company. But this episode goes far beyond business growth. Domenic shares the hard lessons that shaped the company across decades: burnout from founder mentality, the dangers of forcing family members into the business, sibling ownership challenges, and the importance of building systems, leadership, and accountability that outlast any one generation. You'll walk away with a clearer understanding of what sustainable family business leadership actually looks like — and why preserving relationships may matter even more than preserving ownership. Domenic Cortese is the second-generation leader of Cortese Construction Services in Buffalo, New York. Under his leadership, the company evolved from a seasonal concrete business into a respected remodeling and construction company with third-generation family leadership already in place. Domenic and his family have also been deeply involved with the University at Buffalo Center for Entrepreneurial Leadership (CEL), mentoring other family businesses through succession and growth challenges. One of the biggest insights from this episode is that family business longevity rarely happens by accident. It requires intentional communication, earned responsibility, healthy governance, and the willingness to let each generation find its own path. This episode also explores: Why forcing succession often damages both the business and the family How to separate sibling relationships from business partnerships Why founder bottlenecks can limit growth How leadership teams create scalable family businesses Why work ethic and stewardship matter more than entitlement How grandparents can shape future generations of leadership If you're navigating succession planning, preparing the next generation, or trying to build a business that survives beyond the founder, this episode delivers practical wisdom from decades of real-world experience. Listen now: https://www.familybusinessflywheel.com/podcast

    57 min
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About

Join host Michael Palumbos and new guests every episode as they talk about everything from navigating family business transitions, wealth transition, business growth strategies, family conflict, leadership and team development and more. Don't forget to share your favorite episodes with others. Tag us with #thefamilybizshow! If you're a family business or a family business consultant and want to be on the show, share your story and help other family businesses, send us an email to producer@thefamilybizshow.com or visit us at The Family Biz Show | Family Business Podcast With Michael Palumbos (familywealthandlegacy.com) to fill out our web form! Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.

Information

  • Creator
    Michael Palumbos
  • Years Active
    2023 - 2026
  • Episodes
    131
  • Rating
    Clean
  • Copyright
    Copyright The Family Biz Show © 2024 All rights reserved.
  • Show Website
    The Family Biz Show