Family businesses account for 64% of U.S. gross domestic product and employ 62% of the U.S. workforce. This podcast, sponsored by SMB Interim Management and Yate Advisors, explores the major challenges facing family businesses today. Moderator Robin Letchinger interviews leading authorities on family business management and leadership, discussing their personal experiences, the challenges they see, and best-practice solutions to difficulties ahead.
Raising the Next Generation: Instilling Values in Family Business Successors
In this episode, Robin speaks with Jack and Scott Mitchell of Mitchell’s, a high-end women’s and men’s clothing boutique with locations all over the country. Jack is a 2nd generation member of the business, while his nephew Scott is 3rd generation. Together, they discuss:
Building personal relationships with customers
Integrating every member of the family into the business and connecting over shared values
How to prepare the next generation to take over successfully
The importance of communication and honesty
The principle of “business first, family second.”
Listen to hear how Jack and Scott talk about "business first, family second" and how both family members and non-family leadership support and benefit from that approach.
Once again, the principles leading to family business success are great lessons that are not reserved only for family businesses. We welcome you to listen and share your thoughts with us as well.
28 Apr 2023
Charlie Luck - Leading with Inner Will
Leading and operating through Core Values makes all the difference. In this episode, Charlie Luck, President and CEO of the Luck Companies, talks about the moment he came to recognize the importance of core values and how, after that moment, he helped his company identify and embrace its core values. The result was not just growth that had recently been elusive but a workforce with a heartfelt commitment to the company.
19 May 2022
Josh Kanter - Utilizing a Family Office
We often think that a family office is for the ultra-wealthy multi-generational family business. Is that true? Who really can benefit from a family office? When should you consider a family office? Do you need an independent family office or are there other options? What should you expect from a family office? Josh Kanter, who leads his own family office and works with others as well, answers these questions sharing some insightful and personal experiences in his conversation with Robin.
19 Feb 2022
James Bly and an Approach to Strategy
James Bly, the national practice leader of Ernst & Young LLP’s Family Enterprise Business Services, joins Robin to discuss the importance of strategy in guiding a family-owned business. Listen in on Robin’s engaging discussion with James as they cover when to develop a strategy, key elements of an effective strategy, what to anticipate looking forward, and how the EY Megatrends can provide guidance along the way.
12 Feb 2022
Bill Hudson - Mixing Family Member and Independent Directors
In your family-owned business, should you have a board comprised entirely of family members or some mix of both family directors and independent directors? In this episode of the Family Business Leadership Podcast, Robin explores that question in her interview with Bill Hudson. Bill, whose company is H. D. Hudson Manufacturing Co., is an active member in his own family business’s multi-generational board and an independent board member on other families’ business boards. Bill and Robin discuss the importance of having independent directors on family business boards and how to navigate some of the family interests that often arise on such boards.
11 Oct 2021
Dick Seaman and Family Business Stewardship
In this inaugural episode of Family Business Leadership, Robin Letchinger interviews Richard "Dick" Seaman as he introduces us to the concept of family business stewardship. Through his own experience and stories, Dick shares what it took to assume leadership of the family business at a young age after a family tragedy and then both grow it and prepare it to be managed by his children and grandchildren. Dick highlights the importance of a "stewardship" mentality, family education, and family communication. He also shares his experience with professional managers and leaders. Robin and discuss these topics that Dick also shares in his recent book, A Vibrant Vision: The Entrepreneurship of Multigenerational Family Business.
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