Family Business Today Tennessee Center for Family Business

Your host, Greg Lewis talks to Joan Burge, Founder and CEO of Office Dynamics International, about her family business located in Las Vegas, Nevada. Since 1990, Office Dynamics International has been the global industry leader in the development and presentation of sophisticated executive and administrative assistant training, coaching and resources. 
Whether it's the head of the family or another relative who's directly or indirectly connected to the business, any death can disrupt the path of the family , causing the family business to veer off course. Like happiness, the exact opposite emotion, grief floods our rational decision making and overturns our daily routines; but unlike happiness, grief can linger for a very long time. How should a family business deal with such a powerful emotional event?
In this episode Joan Burge will share:
- Her story dealing with the loss of her husband and her own personal health challenges
- The affect grief had on her personally and on their business
- The importance of having a contingency plan in place prior to the disability or death of the owner,    spouse or other family member in the business
- Her advice to a spouse or other family member who are grieving and need to guide their business through a difficult time
- Her stories will inspire you to hang on no matter what, to see the light in the darkest night and to know you are stronger than you imagine
-And much more

Wherever you are in life, whatever your age or marital status, Joan's story will lift your spirit and motivate you to reach for your dreams despite any obstacle or barrier.
In her memoir, Give Yourself Permission to Live a BIG Life, Joan speaks with wisdom and clarity to every woman in every walk of life, tackling the multi-faceted ever-changing roles of today's woman with candor, wit and straight talk. Her stories will inspire you to hang on no matter what, to see the light in the darkest night and to know you are stronger than you imagine so you can remove whatever holds you back from becoming all you were created to be: fully invigorated in every aspect of life.
To purchase a copy of Joan’s memoir follow this link: Give Yourself Permission to Live a BIG Life.
To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com 

To learn more about Joan Burge’ family business, Office Dynamics International, Inc, visit their website at www.officedynamics.com

Your host, Greg Lewis talks to Jeff Aiken, President Tennessee Farm Bureau, on the future of the family farm and what the Tennessee Farm Bureau is doing to support farmers in Tennessee and across the nation. Mr. Aiken and his wife, Carol, own a multigenerational family farm located near Telford, in East Tennessee, in addition to his responsibilities as President of the Tennessee Farm Bureau, the largest state Farm Bureau in the nation,  located in Columbia, Tennessee.
Of the 2.1.million farms in the United States 97 percent are family owned operations.
Family farms have a multitude of  issues to worry about. Whether it is high taxes, increasing regulatory burdens, and trouble selling their products internationally, it seems like government bureaucracy is making it harder to run a family farm today. It is becoming even harder for farms and agribusinesses to successfully transition their farms to the next generation because the process seems too complex and intimidating to their owners.
In this episode Mr. Aiken will share:
-The importance of family values to building a legacy for your family and your business
-How important succession planning is to protect the family farm
-What the greatest threat is to the family farm today
-How estate taxes are threatening the future of the family farm
-The importance of the 2018 Farm Bill to the family farm
-What affect China tariffs on imports are having on the US economy
-And much more

As a special gift for joining us for today’s edition of Family Business Today, we would like to send you a FREE COPY of our e-book on “3 Ways to Succeed in Family Business.” Simply email us at info@tncfb.com and respond “3 Ways to Succeed”.

To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com. For more information on the Tennessee Farm Bureau visit their website at www.tnfarmbureau.org

You may have heard it before, “Business is Business and Family is Family and never the two shall meet …unless you work in a family business.” Your host, Greg Lewis talks to Jennifer Lewis, President Tennessee Center for Family Business, on managing stress in the family business. Jennifer is a professional family counselor and career coach. A graduate of Covenant Seminary in St. Louis with a Master’s Degree in counseling, Jennifer helps individuals and families deal with the curve balls that life throws them.
Life would be dull if you didn’t deal with stress. Everybody has it, the difference is in how you deal with it.
In this episode Jennifer will share:
·         Keys to manage stress properly
·         How stress impacts relationships in a family business
·         Ways to take care of yourself so you can take care of others
·         Steps you can take now to help you cope with stress
·         When it is important to seek outside help
As a special gift for joining us for today’s edition of Family Business Today, we would like to send you a FREE COPY of “8 Stress Busters to help you in your Family Business”.
To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

Your host, Greg Lewis, talks to Eileen Huntington, co-founder and her daughter, Anne Huntington, VP Business Development at their family business, Huntington Learning Centers. The relationship between a mother and daughter can only truly be understood by mothers and daughters. If you love each other tremendously, enjoy spending time together and trust each other, then working together in a family business may be just for you. If you don’t, then working together in the family business is the last thing you should do.
On today’s podcast you will learn:
·         How working with your children differs from non-family members
·         Should parents encourage children to do something else before joining the family business
·         How to separate the role of parent and boss when family members are not in agreement on business matters
·         Role of vision and family values play in business success
·         How to balance mother-daughter relationships when working together
·         One piece of advice for daughters who may be considering joining the family business
·         And much, much more!!
Our guest today has been Eileen and Anne Huntington with Huntington Learning Centers. Huntington Learning Centers recently celebrated their 40th anniversary providing excellence in education. They provide tutoring services to elementary, middle school and high school students in 100’s of locations across the country. To learn more about Huntington Learning Centers visit their website at www.huntingtonhelps.com.
To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

Your host, Greg Lewis, talks to Travis Harms, Sr. Vice President at Mercer Capital located in Memphis, Tennessee about the importance of a business valuation in helping you and your family have a realistic understanding of the value of your business and/or the value of your shares. This is critical for business and personal decision-making and planning for you and your family business.
There are a number of reasons family business owners need a valuation done. These include:
begin a sale process,
resolve shareholder disputes,
business planning & future decision-making,
determine your tax obligations,
litigation purposes(including divorce)
ability to access external sources of funding

On today’s podcast you will learn:
How the value of your business is calculated
Establishing a value is important whether you transfer to the next generation or to a third party
A valuation is great for transition planning and a positive communication tool for all family business shareholders
There are three different valuation methods for your business (asset approach; income approach; market approach
How a business valuation is used in a buy-sell agreement
Why a business valuation is important in the case of the sudden death of a business owner or other shareholder
What a business valuation cost
And much, much more!!
Our guest today has been Travis Harms. Travis is Sr. Vice President at Mercer Capital located in Memphis, Tennessee where he leads Mercer Capital’s Family Business Advisory Services Group. Travis’s practice focuses on providing financial education, valuation, and other strategic financial consulting to multi-generation family businesses.
Travis is the author of the book, the 12 Questions That Keep Family Business Directors Awake at Night and co-author of Business Valuation: An Integrated Theory, Second Edition, with Z. Christopher Mercer. To learn more about Mercer Capital visit their website at www.mercercapital.com
To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

The world of family business is full of stories of siblings who didn’t see eye to eye. In today’s podcast we’ll hear from a 4th generation brother and sister combo who have carefully managed these relationships to be both productive and fulfilling for their business and their family.
You will learn:
·         Make your own mark in business before joining the family business prepares you to join the family business
·         The role you take in the family business should be based on the skill sets you are best suited for not family hierarchy
·         Develop rules when dealing with conflict – communications, honesty, and respect; talk it out
·         Advice for siblings considering joining the family business – Talk about it a lot before making the plunge; have a clearly defined role that matches your skill set
·         Develop boundaries between family and business in family gatherings. Remember spouses and children may not understand or even be interested in the operations and issues of your family business
·         Have fun!
Our guest today has been Laurie Straus Aronoff and Andy Straus, 4th generation owners, of Goldner Associates founded in 1951 in  in Nashville, Tennessee. To learn more about their family business, Goldner Associates, visit their website at www.goldnerassociates.com.
As a FREE Gift for listening to our podcast today, we would like to send you a FREE copy of 80 Questions Every Family Business Owner Should Answer. Send an email to info@tncfb.com and simply say 80 questions.
To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.