In 'Think Again', Adam Grant argues that the ability to rethink at personal, interpersonal, and collective levels is crucial in today's polarized world. He uses scientific research, personal anecdotes, and engaging stories to illustrate how people can find joy in being wrong, leverage the benefits of impostor syndrome, and cultivate environments of lifelong learning. Grant emphasizes the need to challenge our convictions, adopt a scientific mindset, and foster curiosity and humility. He provides examples of individuals who have successfully rethought their approaches, from firefighters to business leaders, and offers practical exercises for improving rethinking skills[2][4][5].
Cathy Carroll's "Hug of War: How to Lead a Family Business with Both Love and Logic" explores the concept of polarity thinking in the context of family businesses. The book uses numerous real-world examples to illustrate how seemingly opposing forces, such as love and logic, can coexist and even strengthen each other. Carroll provides practical tools and frameworks for navigating these tensions, helping family businesses thrive by embracing both sides of the coin. The book emphasizes the importance of understanding and managing these polarities rather than trying to eliminate them. Ultimately, "Hug of War" offers a unique perspective on leadership and conflict resolution within family enterprises.
Polarity Intelligence explores the concept of polarities and their application in leadership and decision-making. The book introduces a framework for understanding and managing opposing forces, helping individuals and organizations navigate complex situations. It provides practical tools and techniques for identifying, analyzing, and resolving polarities, emphasizing the importance of embracing both sides of the coin. The authors offer insights into how to leverage the strengths of each pole while mitigating their potential downsides. Ultimately, Polarity Intelligence aims to enhance leadership effectiveness and organizational performance by fostering a more nuanced and integrated approach to problem-solving.
Family Business as Paradox delves into the inherent complexities and contradictions within family businesses. The authors explore the tension between family and business goals, highlighting the challenges of balancing emotional ties with rational decision-making. The book examines various aspects of family business dynamics, including succession planning, governance, and conflict resolution. It provides frameworks and strategies for navigating these complexities, emphasizing the importance of understanding and managing the paradoxical nature of family businesses. Ultimately, the book aims to help family businesses thrive by embracing and effectively managing their inherent tensions.
Host Steve Legler speaks with Cathy Carroll, author of Hug of War: How to Lead a Family Business with Both Love and Logic. Together, they take a deep look at using the lens of Polarity Thinking to help family businesses work through many of the challenges they face, as well as how FEAs can use this tool to become better resources to their client families.
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Guest Bio
Cathy Carroll Cathy Carroll grew up in a family business and enjoyed a 20-year corporate career before leading her father’s manufacturing business. Before founding Legacy Onward, Inc., Cathy led Pro Equine Group as President and COO. She held executive positions at United Airlines and Sabre and has an MBA from the University of Chicago and a BA from Boston College. Legacy Onward is dedicated to helping leaders in family businesses thrive.
You can learn more about Cathy Carroll on her LinkedIn and the Legacy Onward website.
Key Takeaways
[:26] Steve Legler welcomes Cathy Carroll to the podcast and asks her to share what led her to work as an executive coach to enterprising families.
[4:30] Cathy explains the basics of polarity thinking, using an inhale/exhale analogy.
[5:56] From “should” to “how,” polarity thinking can reframe any leadership positioning.
[7:30] Turning advisors into superheroes, Cathy shares how the 4-quadrant mapping system can reduce conflict during decision-making.
[9:50] How to get people in agreement to reframe questions without compromise.
[11:26] Emphasizing the possibility of change is a great way to get people aligned.
[11:59] Tackling the reveal/conceal tension of estate plans.
[14:16] Task conflict versus relationship conflict and the tools to manage both, Cathy shares a quick mnemonic device (A.L.I.G.N.) to manage task conflict.
[18:50] Relationship conflicts can be very destructive and must be addressed. Cathy shares her 5-step Play Fair (P.F.A.I.R.) process.
[22:37] Whether you’re a coach, a facilitator, or an advisor, practice makes perfect!
[25:31] Building tension to lead to the juicy morcels delivered in the very last chapters of Cathy’s book.
[28:08] Helping families see the bigger picture.
[30:35] Cathy’s reading recommendations and advice for advisors.
[32:42] Steve Legler thanks Cathy Carroll for sharing so much of her knowledge and closes this episode by reminding listeners to rate and subscribe.
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Mentioned in this episode
Hug of War: How to Lead a Family Business with Both Love and Logic, by Cathy Carroll
Think Again: The Power of Knowing What You Don’t Know, by Adam Grant
Family Business as Paradox, by Amy Schuman, Stacy Stutz, and John L. Ward
Polarity Intelligence: The Missing Logic in Leadership, by Dr. Tracy Christopherson and Michelle Troseth
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