Episode 183 - The Power of Legacy with Charlie Leichtweis

Charlie Leichtweis is the founder of Experts in How LLC, a business consultancy focused on family businesses and helping them create successful legacies. With over 40 years of experience, Charlie has served as a C-suite executive, advisor, and board member for numerous family-owned businesses. He is also the author of two books, 'The Power of Respect in Business' and 'The Power of Legacy,' which provide insights into leadership and the unique challenges of family businesses. His extensive experience makes him an expert in guiding family businesses towards sustainable success.

SHOW SUMMARY 

In this episode of the Disruptive Successor podcast, Jonathan Goldhill is joined by Charlie Leichtweis, founder of Experts in How LLC, about the intricacies of family business succession and legacy. They discuss the importance of generational engagement, governance, and the challenges and conflicts that arise in family businesses. Charlie shares his extensive experience working with family-owned businesses and his insights from over 40 years of advisory and executive roles. They also touch on the significance of understanding the family business legacy, the need for effective communication, and respect within the decision-making processes. The episode highlights lessons from Charlie's books, 'The Power of Respect in Business' and 'The Power of Legacy.' Charlie emphasizes the interconnectedness of succession planning and family dynamics and offers guidance on fostering a successful legacy in family businesses.

KEY TAKEAWAYS

• Importance of Family Legacy: Understanding and preserving family legacy can prevent conflict and guide business sustainability.
• Generational Engagement: Early and continuous engagement of all family members fosters better relationships and smoother succession.
• Governance Structures: Effective governance, with a separation between family council and board of directors, aids in informed decision-making.
• Conflict Resolution: Addressing and resolving conflicts through respect, trust, and communication is crucial.
• Leadership and Succession: Clear processes for leadership development and succession planning help mitigate family disputes.
• Purpose and Values Alignment: Articulating and aligning family and business values ensures coherent decision-making.

QUOTES

• "Family legacy is related to family values and their understanding of what their purpose is and how to carry that forward." - Charlie Leichtweis
• "Less than 3 percent of families make it to generation 4." - Charlie Leichtweis
• "Respect builds trust, trust builds relationships, and relationships are the key to leadership." - Charlie Leichtweis

Connect and learn more about Charlie Leichtweis.
https://www.linkedin.com/in/charlesleichtweis/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com