Safe Space with Francesco Lombardo

Join Francesco Lombardo for this week's Safe Space as he speaks with Dr. Paul Jenkins, professional Psychologist. Why do people shy away from talking about their mental health? Why do wealthy families get stuck? Dr. Paul’s one piece of advice to the Senior and NxtGen…learn to operate the equipment of your own mind. You don’t need to change a THING, you need to change a THINK. When you learn to operate that equipment, everything else falls into place.

Join Francesco Lombardo for this week's Safe Space as he speaks with Bruce Tyrrell and 4th generation family business owner from the Hunter Valley wine region of Australia. When Bruce took over the family business in the 1960’s his father’s only advice was “go and grow the business”. What did that mean to Bruce? How has the vineyard adapted over the years to a people focused, sustainable and successful business? Bruce’s one piece of advice to the Senior and NxtGen actually comes from his son…keep half an eye behind you, so you don’t make the same mistakes again. And keep the other one and a  half in front of you because you are looking to improve and move forward.

Join Francesco Lombardo for this week's Safe Space as he speaks with Nike Anani, a second generation business owner. In Nigeria, 90% of businesses are family businesses, but statistically only 2% of them survive into the next generation. Why is this happening? It is important for the Senior and NxtGen to have conversations about both the operational AND relational parts of the family business, but where does this start? How will working together on a shared purpose and shared future make businesses more successful for many generations to come? Nike & Franco discuss how family businesses can have a healthy future by developing oneself, having healthy family communication and creating a safe space for this to happen.

This week on the Safe Space Podcast, Francesco Lombardo speaks with Jenny Dinnen, a Mackenzie Corp. second generation family business owner. How do you set up a family business to be successful now and for years to come? Are you looking ahead as the traditional business that was originally started or planning into the future, seeking to understand what the impact of the NxtGen will be? If you aren’t communicating, where will that leave your family business when it’s time for the NxtGen to take over? Jenny’s one piece of advice to the Senior and NxtGen…know what success looks like to each individual family business member.

Join Francesco Lombardo for this week's Safe Space as he speaks with Ken McCracken, family business consultant and teacher.   Why is development of BOTH the senior and next generation so important to the success of the family business?   When family business members are resistant to change, finding ways to help them be open to receive knowledge and help, and not feel threatened is key.   Ken's one piece of advice to the Senior and NxtGen...please go and get information that is out there because it will help you better understand the challenges that you are facing.

Kevin Hancock returns to the Safe Space podcast to discuss how losing his voice made the family business stronger and more profitable. By understanding for the first time what it was like not to be heard, Kevin changed his vision on running the company, which led to more profit in the last 10 years than the previous 164 years combined.  How did his vision change? What happened in the company that improved profits so significantly? Learn more by listening to this week's podcast.

In this episode of Safe Space, Francesco is joined by Kevin Hancock, who talks about successfully running Hancock Lumber in its 6th generation WITHOUT speaking.  Founders and NxtGen, you are not the identity of the performers of the company Kevin shares. Give your performers a voice, because when people feel authentically heard they are much more committed to supporting the company.    Kevin offers a quote from Gandhi as his advice - "Become the change you wish to see in the world"... or your family business.  

On this week's episode of Safe Space, Francesco speaks to 3rd generation family business winemaker Mitchell Taylor.    Senior generations create a business but it's the NxtGen who continue them. It's up to the current generation to keep the business healthy, sustainable and evolving, in order to market to the NxtGen.  For the NxtGen, Family business isn't a part time thing. And just because you were born into the family doesn't mean you are automatically part of the family business. You have to earn your place.    Advice for the NxtGen: "Keep the communication coming. Keep asking the questions. Keep talking. Keep learning."

John Gibbons returns to the podcast for a continued discussion with Francesco on integrity in family business. Keep your word, avoid empty promises, follow through and be honest to yourself and those who are part of the family business. You can't control the integrity of others, but you can control yourself.      John's advice, don't lie in business or in life because eventually you'll forget your story and you'll be caught out. Just be honest from the get-go.

In this episode Benjamin Persofsky and Francesco discuss the importance of having two sets of governance to manage a business owning family.     Joining Brown Brothers Harriman in 2010, he is now the Executive Director of the BBH Center for Family Business, which counsels some of the largest business-owning families in the world on issues of strategy, governance, succession planning, transition and capital policies.   Ben shares his experience in working at the intersection of business and family and WHY communication is so critical to the success and health of both.     What Ben believes the future is for business owning families is the importance of multidisciplinary advising.    His advice for the senior generation, never too early to start getting the nxtgen involved. And for the nxtgen, enjoy the process. For one day you will be the senior generation.