The Deep Wealth Podcast - Unlock Your Deep Wealth—In Business and Life Visionary And Entrepreneur Bryan Clifton On How To Ensure A Thriving And Healthy Family Business (#284)
“Be an enabler to help people create their ideal version of life” -Bryan Clifton
Jeffrey Feldberg and Bryan Clifton covered a range of topics related to family businesses, including succession planning, leadership transitions, and the impact of AI. Bryan shared his experience growing up in a family business and how it shaped his views on entrepreneurship. He emphasized the importance of not assuming that a business will stay in the family and the need to consider whether it is worth passing on to the next generation. Bryan also provided insights into the complexities of leadership transitions in family businesses and the challenges of dealing with family pressure to put non-family members into leadership positions.
Jeffrey and Bryan discussed the challenges of generational transitions in business, including family dynamics, conflict resolution, and the need for a fundamental strategy for the business moving forward. They emphasized the importance of understanding the motivations of potential leaders and how it can impact the company's culture. Bryan challenged the myth that family businesses are meant to last for long periods of time and emphasized the importance of passing down values, perspective, and skill sets. They also discussed the impact of AI on family businesses and the need for businesses to adapt to the changing landscape of technology and work in order to remain relevant and successful.
Bryan shared a personal story about leading his family's company through bankruptcy as a teenager and reflected on the impact it had on his views on risk, business operations, and people. The meeting ended with a discussion of the typical reach of Deep Wealth's services and the upcoming release of Version two of The Deep Wealth Master of the System. They also discussed potential collaboration opportunities and plans to stay in touch. Overall, the meeting provided valuable insights into the challenges and opportunities of family businesses and the importance of redefining success.
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