Let's Talk Family Enterprise

Host Steve Legler speaks with Professor Pramodita Sharma about sustainability and how family enterprises are uniquely placed to take advantage of business trends in this area. Pramodita shares inspiring stories based on her research, and points family businesses and their advisors into some promising directions.   Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.   All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Guest bio Pramodita Sharma is the Schlesinger-Grossman Chair of Family Business at the Grossman School of Business, University of Vermont. She is a Research Fellow at the Thomas Schmidheiny Center for Family Enterprise at the Indian School of Business, and an advisory board member of the Jönköping International Business School (JIBS), Sweden. Among the highest-cited scholars in family business studies, her research on succession, governance, innovation, next-generation commitment, entrepreneurial leadership, and sustainability in/by family enterprises has appeared in journals like the Academy of Management Learning & Education, Entrepreneurship Theory and Practice, Family Business Review, Journal of Business Ethics, and Journal of Business Venturing, among others. Experiences and close interactions with her own family’s enterprises help keep her professional work grounded in the realities and complex dynamics of these fascinating enterprises that dominate the economic and societal landscape around the world.   You can learn more about Pramodita Sharma on the Grossman School of Business at the University of Vermont’s website and LinkedIn.   Key Takeaways [:26] Steve Legler welcomes Pramodita Sharma and asks her to share an overview of her upcoming lecture at the Family Business Symposium focusing on the meaning of sustainability and the paths we can take to action.   [4:11] Sustainability is a journey that begins with awareness; Pramodita shares what phases come after.   [6:10] Family enterprises have a unique advantage regarding sustainability; the key is in the upcoming generations.   [9:09] Pramodita talks about the pioneering companies already taking advantage of their unique position.   [12:43] Sustainability as an antidote to the pressures of succession.   [15:04] The journey to a purpose-driven life through sustainability business practices.   [16:45] Case studies have proven to be a formidable multi-tool; Pramodita explains how she uses them and where the experience has been richest.   [19:35] Pramodita shares her hope for case studies in Canada and takes a moment to share a personal story.   [23:21] Is there an age or gender to the sustainability charge?   [27:39] The case competitions Pramodita organizes.   [32:20] Pramodita’s reading recommendation and advice for advisors.   [34:33] Steve thanks Pramodita Sharma for sharing her research and knowledge and closes this episode by reminding listeners to rate and subscribe.   If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.   Mentioned in this episode The Circular Economy Handbook: Realizing the Circular Advantage, by Peter Lacy, Jessica Long, and Wesley Spindler Ellen MacArthur Foundation Museum of Science + Industry Chicago: Extreme Ice Exhibit The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.   More about Family Enterprise Canada Family Enterprise Canada FEC on Facebook FEC on Twitter FEC on LinkedIn  

In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel's recent book, Family Office Navigator. Together, they highlight the critical role advisors can play when business families consider setting up a family office or want to take a fresh look at what they currently have in place.   Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.   All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Guest bio Peter Vogel is a Professor of Family Business and Entrepreneurship. As an expert on family enterprises, he leads IMD’s work in this field as Director of the IMD Global Family Business Center and Debiopharm Chair of Family Philanthropy. He works with families, owners, boards, and executives of family enterprises and family offices around the world focusing on transformations, governance, ownership and leadership succession, wealth management, fostering entrepreneurialism and innovation within the system, and establishing professional boards and leadership teams.   You can learn more about Peter Vogel on the IMD website and LinkedIn.   Key Takeaways [:26] Steve Legler welcomes Peter Vogel and asks him to talk a little bit about how he and his organisation became involved in the family business space.   [3:10] Peter touches on how family enterprises and offices are a worldwide trending challenge.   [5:24] The Navigator concept was built for enterprising families, Peter explains how it eventually grew to be used by advisory positions also.   [9:10] Setting up a family office is a complex process, but it can also be the ecosystem by which families can manage wealth effectively.   [13:00] Keeping in mind that family offices will evolve alongside the families that build them; the focus needs to be on what works for them.   [16:34] When it comes to thinking of family offices, who needs to be at the table?   [19:53] A family office has to be designed to work for the family, Peter explains how the downloadable .pdf framework can help achieve that.   [22:06] From the family office to other models, Peter explains why and how they are branching out into new frameworks.   [25:45] The how of a family office isn’t the starting point and Peter offers how advisors can better guide families through the learning process.   [28:27] Peter talks about the importance of experimenting, learning, and developing best practices for families.   [31:22] Peter shares his book recommendations as well as his advice for advisors.   [35:33] Steve thanks Peter Vogel for sharing so much of his expertise and closes this episode by reminding listeners to rate and subscribe.   If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.   Mentioned in this episode Peter’s recommendations: Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise, by Josh Baron and Rob Lachenauer Africa Is Not a Country: Notes on a Bright Continent, by Dipo Faloyin FEX podcast episode #23: “Family Business Ownership: Four Rooms and Five Rights, with Josh Baron” The Family Office Navigator: Your Guide to Building a Multigenerational Family Office, by Peter Vogel and Mario Marconi The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.   More about Family Enterprise Canada Family Enterprise Canada FEC on Facebook FEC on Twitter FEC on LinkedIn  

Francesco Barbera, an Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management, dives into the complexities of family businesses. He discusses the transition from seeing family firms as a homogenous group to recognizing their unique characteristics. The conversation explores how family governance influences firm performance, emphasizing the need for tailored advisory approaches. Barbera also shares insights on bridging academic research with practical strategies to enhance support for diverse family enterprises.

Perry Gladstone, a Purpose and Identity Coach, shares his expertise in guiding families and businesses through innovation and personal growth. He discusses how the next generation’s fresh perspectives can enhance family enterprises, emphasizing the role of open dialogue and co-creation. Gladstone also highlights the importance of personal development and trust-building in navigating change, suggesting that individual readiness is key to lasting success. The conversation reveals how balancing innovation with tradition can lead to a thriving family business dynamic.

In their traditional annual “retrospective” episode, hosts Steve Legler and Ruth Steverlynck discuss highlights from some of the episodes that debuted in 2023, hoping to stimulate listeners to re-listen for great content they may have missed the first time.   Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.   All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Key Takeaways [:26] Ruth Steverlynck guest-hosts this 2023 retrospective with host Steve Legler to discuss highlights from some of this year’s best episodes.   [1:23] Episode 50 featured video and guests Jim Grubman, Dennis Jaffe, and Kristin Keffeler, and makes Steve’s must-watch list, Ruth touches on the positive discovery process.   [6:50] Episode 46 was one where Ruth had the absolute pleasure of hosting Jay Hughes, discussing a wide range of topics, the Foundation named in his honor, and the wonderful things that it will be producing.   [11:36] Episode 44 set the stage for a discussion with Coventry Edwards-Pitt on the often-overlooked significance of the prenup. Steve shares his thoughts on what the episode revealed.   [15:40] Episode 47 dove into the work of Dr. Paul Hokemeyer on the unique type of isolation wealth brings along. Ruth shares some of the enlightening thoughts on growth she garnered from this episode.   [21:14] Episode 51 highlighted one of this year’s new guest hosts: Ambreen Bhaloo and her guest Mike Sergeant. Steve and Ruth send some flowers their way.   [24:23] Episode 52 was Aileen Miziolek’s turn to host her first guest Marita Fridjhon, Steve shares how he and Aileen met and why she was chosen as a female voice for the Let's Talk Family Enterprise podcast.   [26:40] Episode 49 was one of Ruth’s favorites; she shares which takeaways and nuggets she still thinks about from David York’s interview.   [30:35] Ruth and Steve share their current favorite resources for 2024.   [33:39] Steve takes a moment to thank Ruth for launching this podcast project, now that she is stepping into different roles, and signs off until 2024.   If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.   Mentioned in this episode The Purposeful Planning Institute The Wealth of Wisdom Podcast The Wealth of Wisdom book   Episode 50: Wealth 3.0 Episode 46: In Conversation With Jay Hughes Episode 44: Prenuptials: Engaged Healthy, Wealthy and Wise Episode 47: Fragile Power: Why Having Everything Is Never Enough Episode 51: Communication Dynamics in Business Families Episode 52: Working With Systemic Change in Family Business Episode 49: Stewardship for Enterprising Families   More about Family Enterprise Canada Family Enterprise Canada FEC on Facebook FEC on Twitter FEC on LinkedIn

Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Description In this episode, Aileen Miziolek talks with Marita Fridjhon, co-author of System Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility and Foster Collaboration, and co-founder of CRR Global. Together, they discuss the complexity of systemic change in family business; the importance of meeting people where they are, instead of where we expect them to be; the benefits of teams when working with family business systems; as well as ideas on modeling positivity to help families gain confidence in their ability to work better together. Guest bio Marita Fridjhon is co-owner and CEO of CRR Global and a mentor to an ever-growing community of practitioners in the field of Relationship Systems work. She excels in supporting client systems to uncover systems-inspired solutions from the collective wisdom within the larger whole. Marita is an accredited coach and trained therapist with degrees in Social Work and Medical Social Work. She completed her training in Psychiatric Social Work before acquiring qualifications in Process Work, Alternative Dispute Resolution, coaching, and team coaching. You can learn more about Marita Fridjhon on her website and LinkedIn.   Key Takeaways [0:32] Aileen Miziolek guest hosts this month’s episode and welcomes Marita Fridjhon. They discuss how to apply team coaching to families. [4:44] Marita touches on the application of the four-circle model to nested family systems in order to better serve as advisors. [7:56] Although the relationship with oneself is the starting point, Marita explains how the system itself also develops a unique and evolving personality. [10:00] Marita unpacks the strange permeability of boundaries within family systems. [12:07] The iterative phases of systemic evolution: meet, reveal, align, and act. [14:00] Marita reminds us there are multitudes within the self: be aware of which facet of the individual you are addressing. [16:17] Identity and expression of self are in constant flux. [18:45] Emotional literacy is on the decline, Marita explains how COVID-19 and a post-traumatic world are generating widespread fatigue. [20:10] There is no easy fix. [22:00] Empathy fatigue will inevitably generate larger conflicts that bleed from personal areas to business. [24:04] Marita offers that advisors may support their families more on the personal side, or the business side, but rarely both. [27:05] Marita offers a bit of history on the shifting boundaries between therapy and coaching and why some personal and professional advisory role-playing might best serve families. [32:11] Rather than finding positivity, Marita proposes to model it. She shares a practice she discovered and implemented at work. [37:00] Marita’s book recommendation as well as her advice for advisors. [38:20] Aileen thanks Marita Fridjhon for joining the podcast and sharing so much of her expertise, and signs off until next month.   If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca. Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada. Systems Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility, and Foster Collaboration, by Frank Uit de Weerd, Marita Fridjhon   More about Family Enterprise Canada Family Enterprise Canada (FEC) FEC on Facebook FEC on Twitter FEC on LinkedIn

Aileen Miziolek, co-author of Inspired Wealth, brings over 20 years of expertise in financial planning for families. In this discussion, she delves into the concept of families as relationship systems, emphasizing the role of an outsider in facilitating collaboration. They explore the dynamics of coaching within family structures and how historical relationships impact current interactions. Aileen also highlights the significance of effective communication in resolving conflicts and fostering a learning culture, revealing how challenges can serve as growth opportunities.

Mike Sargeant, a former BBC correspondent-turned-communication coach, shares his journey from acting to journalism, highlighting how overcoming shyness shaped his career. He reveals how reframing fear into excitement can enhance storytelling, particularly in family businesses. The discussion also covers the importance of listening, building trust, and the power of narratives in nurturing family unity. Sargeant draws on his global experiences, showing that despite cultural differences, shared emotions connect families worldwide.

Special Video Episode: Watch the video here Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. DescriptionIn this special 50th video episode, host Steve Legler speaks with all three authors of the recently released book, Wealth 3.0: The Future of Family Wealth Advising, Jim Grubman, Dennis Jaffe and Kristin Keffeler. Together, they discuss both the past and future of the field of advising families about wealth issues and cover some of the differences between working with family businesses, family enterprises and families of wealth. To mark the 50th episode, this podcast is presented in video format, a first for Let’s Talk Family Enterprise! If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca. More about Family Enterprise CanadaFamily Enterprise Canada (FEC) FEC on Facebook FEC on Twitter FEC on LinkedIn

Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.   All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Description Host Steve Legler speaks with David York, author of The Gift of Lift and Entrusted, about the concept of stewardship and how it applies to enterprising families. York also shares his three questions that every rising generation family member needs to have answered, along with his views on the continuum that runs from entitlement to enslavement. Guest bio David R. York David R. York is an Attorney, Certified Public Accountant, and Managing Partner with the Salt Lake City law firm of York Howell. David practices law in the areas of estate planning, tax, business planning, and non-profit entities. He is a Fellow with the American College of Trust and Estate Counsel (ACTEC) and is the Dean of Legacy with the Purposeful Planning Institute. David has extensive experience in designing and implementing advanced wealth planning strategies for high-net-worth clients. He is the co-author of three books, Entrusted: Building a Legacy That Lasts, Riveted: 44 Values that Change the World, which after its release was the #1 Business Ethics book on Amazon, and The Gift of Lift.   You can learn more about David R. York on his website and LinkedIn.   Key Takeaways [:26] Steve Legler welcomes David R. York to the podcast and asks him to talk a little bit about the subtitle of his latest book: Harnessing the Power of Stewardship to Elevate the World.   [4:21] David played “slug bug” as a kid, he makes a parallel with looking for and finding examples of stewardship in the world.   [5:50] Though we use and hear the word a lot, stewardship is rarely defined. David offers the working definition he came up with in his book as well as the opposite of stewardship: consumerism.   [8:36] Transcendence and investment characterize stewards, David talks about the ill-perceived trait of entitlement and shares his experience in a five-generation vineyard in Verona.   [11:49] Stewards have a unique perspective on the relationship with the past, present, and future. David shares the four key building blocks of stewards.   [13:55] David dives into the notions of equality of opportunity and cost versus value. He also touches on the four Ps: purpose, preparation, perspective, and participation.   [18:35] The insidious problem of snowplow parenting and the problem of perceived entitlement.   [20:11] The three critical questions David poses to help families surmount the biggest issues surrounding wealth transfer.   [25:16] Entrusted is right in the middle between entitlement and enslavement; Steve and David break down how to keep the balance through rights and responsibilities.   [29:04] David’s reading recommendations and his advice for advisors.   [32:12] Steve thanks David R. York for joining the podcast and sharing so much of his learnings, and signs off until next month.   If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.   Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada. The Gift of Lift: Harnessing the Power of Stewardship to Elevate the World, by David R. York Think Again: The Power of Knowing What You Don't Know, by Adam Grant   More about Family Enterprise Canada Family Enterprise Canada (FEC) FEC on Facebook FEC on Twitter FEC on LinkedIn