The Family Biz Show

Culture Over Chaos: How Randy Carr Rebuilt World Emblem | The Family Biz Show Ep. 114 In this powerful episode, Michael Palumbos sits down with Randy Carr, second-generation CEO of World Emblem, who shares a brutally honest and insight-packed journey of rebuilding a company from scratch—twice. From failed ERP systems to near fistfights with his brother, Randy takes us behind the scenes of what it really takes to build a legacy business with 1,600+ employees. This episode is a must-listen for leaders facing coordination gaps, stalled growth, or succession uncertainties. Key Insights & Timestamps 💡 Startup Origins & Growing Pains 01:00 – Restarting the business after his father's first company failed 02:30 – Running machines, shipping orders by hand—pure grit 🔧 Lean & Operational Turnaround 06:16 – How a lean intervention saved millions 08:00 – University of Kentucky's game-changing cultural impact 10:00 – Restructuring leadership: the loyalty trap 🧠 Tech + Talent Lessons 22:00 – One bad hire = 10 years of tech debt 24:00 – Why every business is a people business 🏗️ Family Governance & Succession 26:00 – Separating ownership from operations 38:00 – His son joins the company: the emotional legacy moment 🧠 Strategic Planning 33:00 – Competing with China by outmaneuvering, not outpricing 34:30 – Investing 10% of revenue in tech Takeaways Culture eats cost savings for breakfast Don't confuse tenure with leadership fit Clean your data now—before AI accelerates your inefficiencies Separating ownership and management may save the business (and your family) Find mentors. Ask for help. Build your forum

In this episode of the Family Biz Show, host Michael Palumbos is joined by filmmaker and entrepreneur Eriksen Dickens of Platinum Peak and Dickens Brothers to explore the power of legacy documentaries in preserving family stories for future generations. Eriksen shares the inspiring story of building a creative business with his brother—starting with childhood movies on their family ranch to directing legacy films for philanthropists, founders, and family foundations. They discuss the unique dynamics of working with family, the evolution of their business, and the challenges of leadership, delegation, and growth as their team expanded. This heartfelt conversation dives deep into the emotional and strategic value of storytelling for family enterprises. Eriksen explains the Seven Storytelling Pillars his team uses to bring generational narratives to life, and how these documentaries foster connection, healing, and clarity across generations. Michael and Eriksen also reflect on the importance of identity post-succession, what people regret at the end of life, and why every family should consider capturing their story on film—before it's too late. 🎯 Takeaways Legacy documentaries help families preserve stories, values, and identity across generations. Working with family requires communication, trust, and self-awareness. Sales is about understanding people—not pitching. The "Seven Storytelling Pillars" provide a framework for meaningful legacy content. Growth requires delegation, leadership development, and team trust. Storytelling is a powerful tool for founders transitioning out of leadership. Emotional moments in legacy films can lead to healing and deeper connection. Many families regret not capturing stories until it's too late. Legacy storytelling is ideal for family foundations, successful entrepreneurs, and multigenerational families. Story is one of the most powerful tools for business communication and family legacy planning.

How Family Offices Evolve: Strategy, Structure, and Success Across Generations | The Family Biz Show Ep. 112 🎙️ In this episode of the Family Biz Show, host Michael Palumbos sits down with Peter Moustakerski, CEO of the Family Office Exchange (FOX), to explore the evolving landscape of family offices and how multi-generational families can preserve wealth, purpose, and unity across generations. Peter shares his unconventional career journey—from launching businesses in China to helping build Ray Dalio's family office—and the lessons learned from working with ultra-high-net-worth families around the globe. Together, they unpack the real purpose of a family office, when to start one, the difference between single-family and multi-family offices, and why complexity—not just net worth—drives the need for formal structures. The conversation dives deep into how successful families implement governance, succession planning, and human capital strategies that align with their values. Peter emphasizes the importance of emotional intelligence, collaboration, and peer learning in navigating generational transitions and building a sustainable family enterprise. Whether you're running a thriving family business, managing a liquidity event, or planning for long-term legacy, this episode is packed with practical insights and frameworks to help you make strategic decisions about your family's future. 💡 Key Takeaways Family offices exist to support the long-term goals of the family—not just manage money. You don't need $100M+ to justify a family office. Complexity is a stronger indicator. Governance becomes critical in G3+ families where decision-making is more distributed. Emotional intelligence and collaboration are essential traits for trusted advisors. Peer communities like FOX offer invaluable support, insight, and shared best practices. Multi-family offices emerge through banks, RIAs, or evolved single-family offices. Families should assess their advisors regularly to ensure alignment with evolving needs. Investing in communication and purpose builds generational resilience. Legacy planning requires integration of human, intellectual, and financial capital. Treat your family like the enterprise it is—discipline and structure are essential.

In this episode of The Family Biz Show, host Michael Palumbos welcomes three generations of the Firkins family, owners of Tile Wholesalers, to discuss the evolution of their family business over 52 years. From launching as a one-man tile distributor in the 1970s to becoming one of upstate New York's leading residential and commercial tile providers, the Firkins family shares a powerful story of generational leadership, trust-based succession planning, and strategic growth. Al, Dave, Kathryn, and Conor Firkins reveal how they've handled leadership transitions, embraced new technology, navigated family dynamics, and built a people-first culture that has kept the business thriving across decades. They explore how early trust empowered the next generation to innovate, why working outside the business helped prepare Conor for leadership, and how listening to both employees and customers shaped the future of their showroom and operations. This candid conversation covers everything from generational business handoffs and managing disagreements to outlasting big-box competitors through personalized service and strong values. Whether you're a second- or third-generation leader or preparing for an ownership transition, this episode delivers real-world insight into what makes a family-owned business sustainable and successful. Takeaways Succession planning based on trust can lead to smoother generational transitions. Legacy family values and data-driven decisions can coexist. Outside experience can prepare the next generation for leadership. Open communication is essential for resolving family conflict in business. Strong culture is built through listening and empowering employees. Family dynamics must be navigated intentionally during leadership transitions. Personalized customer service differentiates family businesses from big-box competitors. Strategic growth often requires reinvestment and shared vision. Spousal support plays a vital role in business resilience and decision-making. Legacy isn't just history — it's a tool for future success. Chapters 01:00 Introduction to the Firkins Family Business 02:17 How Al Started Tile Wholesalers 04:14 Dave's Early Exposure & Entry Into the Business 05:07 Kathryn's Role & Perspective as a Spouse in the Business 09:33 Conor's Outside Experience Before Joining 10:53 Al on Trust & Transition to Dave 14:57 From Residential to Commercial Expansion 17:50 Handling Family Dynamics in Decision-Making 20:29 Managing Disagreements Constructively 22:48 Communication as a Competitive Advantage 24:19 Transition from Dave to Conor: What's Next 28:00 The Role of Spousal Support in Business Growth 32:34 Reinvesting in the Business: Building & Expanding 34:14 Conor's Focus on Building the Next Leadership Team 36:52 Competing with Big Box & Online Retail 40:35 Culture Starts with the Right People 41:40 Embracing Technology to Enhance Service 44:49 Understanding the Next Generation's Career Paths 48:19 Using Analytics & Listening to Guide Strategy 52:00 Final Advice from Each Generation on Legacy & Leadership 57:26 Breaking the Shirt Sleeves to Shirt Sleeves Pattern 51:00 Why Independent Businesses Still Have an Edge 51:53 The Firkins Family's Favorite Tradition

In this episode of the Family Biz Show, host Michael Palumbos is joined by executive coach and author Cathy Carroll to explore the emotional and strategic tensions unique to leading a family-owned business. Drawing on personal experience and her new book Hug of War: How to Lead a Family Business with Both Love and Logic, Cathy reveals how families can navigate leadership challenges, intergenerational conflict, and complex relationship dynamics with clarity and compassion. The conversation dives deep into the concept of polarities—opposing truths that both carry value—and how recognizing them can transform everything from governance decisions to estate planning. Cathy and Michael discuss critical tensions like fairness vs. equality, tradition vs. innovation, structure vs. flexibility, and revealing vs. concealing wealth. Through real-life stories, including Cathy's own journey of working with her father, they unpack how forgiveness, intentional leadership development, and healthy conflict can strengthen families and businesses alike. Takeaways Family businesses must manage emotional and operational polarities—there is rarely one right answer. Governance should be structured, but flexible enough to evolve with the family's needs. Fairness doesn't always mean equality—especially when it comes to compensation and ownership. Healthy task conflict can drive innovation, while relationship conflict can destroy trust. Estate planning requires balancing transparency with timing and maturity. Power dynamics, especially between generations, must be managed with awareness and intention. Forgiveness is a leadership tool—starting with yourself and extending to family members. Preparing next-generation leaders requires more than a title—it requires mentorship, coaching, and clarity. Chapters: 00:00 – Welcome & Guest Introduction 01:25 – Cathy Carroll's Family Business Background 02:20 – The Challenges of Working for Her Father 06:20 – What "Hug of War" Means in Family Business 08:12 – The Concept of Polarities: Business vs. Family Mindset 10:15 – Domain Crossover Power: Business vs. Family Influence 14:45 – Missed Conversations and End-of-Life Regrets 19:50 – Succession Planning: Equal vs. Equitable 21:10 – Estate Planning: Reveal vs. Conceal 23:55 – Cathy's Polarity Mapping Tool Explained 28:12 – Independence vs. Interdependence in Family Roles 32:54 – Balancing Tradition and Innovation 35:07 – In-Laws and Inclusion in Governance 39:24 – The Need for Flexible Governance 42:36 – The Role of Forgiveness in Family Business 44:51 – Cathy's Journey to Self-Compassion and Understanding 47:01 – How to Recognize When You're in a Polarity, Not a Problem 50:00 – Tools for Navigating Difficult Conversations 52:20 – Cathy's Final Advice for Family Business Leaders

In this episode of the Family Biz Show, Michael interviews Michael Bower, who shares his journey of acquiring and revitalizing Eagle Metal Craft, a multi-generational family business. They discuss the challenges of succession planning, the importance of maintaining a strong company culture, and the impact of family dynamics on business operations. Bower reflects on his experiences navigating the complexities of a declining business, the significance of mentorship, and the strategies he implemented to professionalize the company and drive growth. The conversation emphasizes the need for clear planning and the value of external support in achieving long-term success in family-owned businesses. Takeaways: Michael Bower took over a declining family business and revitalized it. Succession planning is crucial for the longevity of family businesses. Cultural shifts can significantly impact employee morale and engagement. Professionalizing a business can lead to increased value and growth. Mentorship and advisory groups provide essential support for business owners. Understanding family dynamics is key to navigating business challenges. Investing in employee well-being can enhance company culture. A clear vision and strategic planning are vital for business success. The importance of maintaining a strong company culture through transitions. Long-term planning can create opportunities for future generations. Chapters: 00:00 Introduction to Family Business Dynamics 03:54 Michael Bower's Journey to Eagle Metal Craft 06:57 The Evolution of Eagle Metal Craft 10:10 Challenges of Acquiring a Declining Business 13:01 The Importance of Succession Planning 16:06 Navigating Family Dynamics in Business 23:07 Cultural Impact of Family Business Transitions 32:09 Navigating Family Dynamics in Business 33:14 Transitioning Leadership: A New Era 35:21 Enhancing Workplace Culture 38:07 Negotiating the Business Sale 41:29 Vision for the Future: Growth and Strategy 50:31 The Importance of Mentorship and Advisory Groups 52:20 Generational Thinking in Business 57:07 The Value of Outside Help 01:02:19 Planning for Long-Term Success 01:07:36 Introduction to Family Business Insights 01:08:06 Engagement and Community in Family Business

After a long haitus due to a company transition, we're back with episode 108! In this episode of the Family Biz Show, Michael interviewed Nikki Rausch of the Sales Maven, who shares her journey from a successful sales career to becoming a sales consultant. They discuss the importance of hiring the right salespeople, understanding the sales process, and the differences between marketing and sales. Nikki introduces her Selling Staircase framework, emphasizing the need for curiosity in sales conversations and the importance of training for business owners and their teams. Some major topics included: How to assess the right salesperson (and how to hire them) How sales competency levels can impact training and management. What an ideal sales funnel should be based on How compensation structures should align with business goals. Share this episode and follow us on social media!

What does it take to transition a multi-generational family business into new ventures while preserving its legacy? In Episode 107 of the Family Biz Show, we welcomed Ray Isaac, formerly of Isaac Heating and Cooling, now with Northwinds Services Group. Ray shares his journey of transitioning from a well-known family business in Rochester, New York, to exploring new opportunities. The episode delves into the complexities of managing a family business, the importance of maintaining a strong legacy, and the challenges of navigating transitions. Ray reflects on his early experiences working in the family business, from cutting sheet metal as a child to eventually leading the company to significant growth. The conversation highlights the critical role of family values and legacy in business transitions. Ray discusses the importance of treating a family business as an equity business, emphasizing the need for clear boundaries between family and business roles. He shares insights into the process of being approached by private equity and the emotional and strategic considerations involved in such decisions. This episode underscores the significance of adaptability, strategic planning, and the enduring impact of family teachings and values in shaping the future of a business. Ray's story is a testament to the power of legacy and the potential for growth and innovation in family enterprises. Share this episode with other family business owners that might enjoy the show! -------- The content presented is for informational and educational purposes. The information covered and posted are views and opinions of the guests and not necessarily those of Osaic Wealth. CRN-6996497-090924

Ever wondered what it takes to transform a family dream into a thriving business? In this episode of the Family Biz Show, Michael sits down with Connor and Dan Sullivan, the dynamic brother duo behind Bumpa's, a unique gastropub nestled in the heart of Charleston, South Carolina. The Sullivans recount their bold leap from stable careers in finance and corporate real estate to the unpredictable world of hospitality. They share the intricate process of renovating a historic building, navigating the challenges of opening during a pandemic, and crafting a menu that pays homage to their roots with innovative offerings like build-your-own fry plates and the signature stag and boar burger. Throughout the conversation, the brothers emphasize the importance of a unified family vision, the lessons learned from preserving history, and the joy of creating a welcoming space that reflects their grandfather's legacy. This episode is a testament to the power of family collaboration and the courage to pursue one's passion against all odds. 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! CRN-6992355-090624

Episode 105 – The Epiphany & The Mud Run On this episode of The Family Biz Show, president of Williams Fence Dan Willams shares his journey into the family business, the values he learned along the way that continue to shape it, the evolution of his company & the impact of the '08 market crash. For family business owners and aspiring entrepreneurs, Dan's experiences provide a roadmap for achieving personal and professional fulfillment while maintaining the legacy and values of their family business. ----- 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! CRN-6709151-061724