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The Family Business Podcast

The Family Business Podcast

Author: Family Business Podcast

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The podcast dedicated to Family Business. In each episode we share insights and stories from family businesses and their advisers with the aim of giving you all you need to know to help your business thrive.
63 Episodes
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In this episode we discuss what makes you a family business. Are there a set of conditions that need to exist to 'qualify' you as a family business, and is there a certificate!? During the episode, John Tucker get's tied to a chair, Emma makes bacon sandwiches and Nick tells us how many different definitions the EU have for a family business! 
On this episode Fiona Graham, Director of External Affairs and Policy at The Institute for Family Business provides us with a great insight into the role that the IFB play in the UK championing UK family businesses.  We discuss trends, common challenges, Government policy and much more.  You can get in touch with Fiona or the IFB via  Twitter: @IFB_uk Phone - 020 7630 6250 Email - info@ifb.org.uk
Ep.3 Finding your Why

Ep.3 Finding your Why

2017-07-2100:26:03

In this episode we discuss some of the reasons why you might go into business in the first place.   Whilst it can be very challenging it can also be immensely rewarding to work with family and understanding why can be a fundamental to the success of the business.   We reference a TED talk from Simon Sinek which you can watch by following this link https://www.youtube.com/watch?v=u4ZoJKF_VuA   
Ep.4 - Structure

Ep.4 - Structure

2017-07-2800:40:52

Getting the balance right between the tax advantages and the potential downsides associated with certain business structures can be tricky when first establishing a business. Nick Smith talks in this episode about the importance of structure and some of the unintended consequences that can result from simple tax structures.  
Communication is an essential part of the success of any business. When you throw family into the mix it can become all the more important.  In this episode we talk to Ian Marsh from www.familydr.co.uk who works with families in business in helping them to communicate.  This excerpt from Ian's website summarises his work 'Family dynamics need constant active management.  All the available research suggests that the solution is to "communicate, communicate, communicate", but it turns out that is much easier said than done.' 
We often hear that family businesses feel alone and that they are the only one's experiencing their particular challenges. As such it can be reassuring to hear what challenges other businesses like yours are facing.  PwC conduct a survey that looks at the global trends in Family Business and the results are discussed in this podcast with PwC's Head of UK Family Business, Sian Steele.  Sian shares her experience of working with family enterprises and offers some great insights into how many of these challenges can be overcome. You can find the full survey results by following the link below and get in touch with Sian on Twitter.  https://www.pwc.co.uk/private-business-private-clients/insights/family-business-survey-2016-17.html @SianSteele  @PwC_UK
In this episode we talk to Kitty Rosser, a data protection lawyer about new Data Protection laws that are coming into force next year.  The implications of this legislation will affect your business so it is important to understand what you need to do.  Kitty covers this. You can find more about the new rules by following  https://ico.org.uk/for-organisations/data-protection-reform/overview-of-the-gdpr/ and you can find out more about Kitty and Birketts below.  http://www.birketts.co.uk/our-lawyers/norwich/kitty-rosser http://www.birketts.co.uk/insights/legal-updates/gdpr-countdown-to-compliance
This week we are joined by Coach Pete Walsh from Phoenix Arizona For over 20 years, Pete Walsh has been helping people reach new levels of results by mixing fun, hard work, and an unwavering commitment to personal development. Pete provides Executive and Business Coaching for leaders and teams that are committed to reaching the highest levels of business results and personal satisfaction. We talk about deliberate practice, a method adopted by elite athletes and musicians to hone their skills and how this can be adopted by family businesses to help them to thrive. 
Succession planning is one of the biggest issues faced by families in business.  In this episode Mairi speaks to us about her own experiences within her family business and in her current role as a family business consultant.  We speak about what steps can be taken to ensure a successful transition from one generation to the next.  This was a really enjoyable and insightful chat  You can find out more about Mairi here:  http://businessfamilies.co.uk  Twitter: @Mairi_Mickel 
We talk to Emma Rudge about the importance of getting into the good habit of communicating and communicating well in the early weeks, months and years, of your business.  Developing these skills whilst the business is still 'young' can be tricky but the benefits can be huge.   Whilst the focus of this episode is on start up's, the lessons can be applied across all ages of business.  We speak about the 3 circle model which you can read about here http://johndavis.com/three-circle-model-family-business-system/
Maria Villax is a third generation member of a very successful multinational family business. However, she does not work within the family business but has an active role with its governance. For Maria, this a perfect balance.  If you were born into a family business you will understand that a decision will need to made (if it hasn't already) to either join or not join the family business.  There is a 'third' way. You can contribute to the business, be valuable resource for the business and yet follow a dream you may have away from the family business.  This balance may be rare, but it is achievable and Maria explains her role both within and outside the family business.  You can find out more about Maria and get in touch, here  https://www.linkedin.com/in/mariavillax/ http://www.hovione.com/
Nick Smith used to be a lawyer and has worked with family enterprises for many years. Despite having left the legal profession Nick continues to work with Family Businesses as a consultant.  He has recently written a great book called 'Advising the Family Owned Business' which explores all area's of advice to family businesses.  During our chat we discuss what family businesses can learn from Nick's research and we cover Governance and its importance.  You can buy Nicks book here  http://www.jordanpublishing.co.uk/practice-areas/family/publications/-advising-the-family-run-business#.WbG6_dOGPPA
The Bowen family systems theory is a theory of human behaviour that views the family as an emotional unit and uses systems thinking to describe the complex interactions in the unit. To me that sounds pretty complicated but Steve manages to explain in a way that makes the theory easier to understand.  Steve also shares his own story about growing up in a family business.  Steve's website is  http://shiftyourfamilybusiness.com/  If you would like to know more about Bowen Theory you can read about it here http://thebowencenter.org/ If you would like to follow Steve on Twitter, his 'handle' is @FamilyLegacyAdv and you can search for him on Linked In. 
Ep.14 - Succession Planning

Ep.14 - Succession Planning

2017-10-0600:46:43

Ken McCracken has worked in the field of Family Business for many years.  He is head of Family Business consulting for KPMG and works with families in business and family offices to improve their overall family and business governance and helps them to plan for effective transitions in ownership and leadership. Ken shares his knowledge and experience in this episode where we focus on the sometimes tricky area of succession planning. It can often seem intimidating and easier to put these discussions off so we provide you with some tips as to how to start.  You can find out more about Ken on KPMG's website  https://home.kpmg.com/uk/en/home/contacts/m/ken-mccracken.html You can also reach Ken on Twitter @kenmccracken26 and on Linked In https://www.linkedin.com/in/kenmccracken62/  
Buying or leasing a commercial property can be a big decision for family businesses to make, there are pro's and cons to each of these options.  In this episode we talk to Jess Booz from VWV about the common pitfalls, the benefits of owning a commercial property within the business or individually and some of the things to think about before taking the plunge.  If you would like to get in touch with Jess she can be found here:  https://www.linkedin.com/in/jessicabooz/ You can find out more about VWV here:  https://www.vwv.co.uk/law-sector/family-owned-business @VWVFamilyBiz
Ep. 16 - Motivational Maps

Ep. 16 - Motivational Maps

2017-11-0300:43:03

In this episode Mark shares his own family business story and how after he sold his family business he wanted to help other people to avoid the issues he faced in his business.  One of the key tools that Mark uses with his coaching clients is 'Motivational Maps' we discuss this and my own motivational map!   'Through my own business learning curve, I discovered ‘Motivational Maps’, which have provided me with a valuable change management tool.  Amongst other benefits, Motivational Maps help to; Identify Key issues Facilitate communications Implement Reward Strategies. I would encourage you to use this tool for your own business to optimise your own performance as well as your staff or team.  A key aspect in helping individuals or teams perform is ensuring that they are motivated.  Motivational factors stem from self-beliefs, expectations and personalities and will always be an important determinant for success.  Addressing an individual’s motivation factors can be the key to unlocking high performance for their own development initiative or for establishing their ‘best fit’ in a team.' http://1stclasscoachingsolutions.com/ @markterrell376    
We talk about their story and the successful transition from Heather's father to Heather.  We also discuss Heather's relationship with the staff, who in many cases she has grown up with, and how her changing roles have impacted these.  'The Little’s story spans five decades – and two generations. As a family business, we benefit from being able to innovate and quickly adapt to the changing needs of our clients, ensuring we provide the very best service at all times.  Indeed, that is what has driven our enviable business growth. We are still proudly headquartered in Scotland today, and our award-winning team, some of whom have worked with us for over 20 years, provide our clients with an exceptional service no matter where in the world they are travelling.' You can find out more about Heather by visiting their website  www.littles.co.uk or on Linked In https://www.linkedin.com/in/heather-matthews-902a3321/ and Twitter @LittlesCars   
Ep. 18 - A Legacy Mindset

Ep. 18 - A Legacy Mindset

2017-11-2400:59:15

Vincent Valeri is a Certified Family Legacy Coach and uses his own experiences within his family business to help to prepare families for wealth transfer.  Vincent shares his own story and how the experiences he had within his family business and how being given a Porsche for his 16th birthday has given him an analogy that he now uses with the families he works with.  Vincent shares his story with a candid honesty and we speak about the poor statistics around the survival rates of family businesses worldwide.  You can find out more about Vincent here  https://www.linkedin.com/in/vincentvaleri/ and on Twitter @valeri79 You can also read the blog on Mitzi Perdue's site here:  http://mitziperdue.com/need-family-legacy-mindset/ Vincent's business site is here:  https://www.vedaera.com/  
Max Gosselin joined his Mum and Dad'd cheese business and started working on the most successful sales route in the firm, just before the busiest time of the year.  It didn't start well. He was the first sales person in the businesses history to achieve negative sales figures in the run up to Christmas.  Using determination and a thirst for learning he decided to learn as much as he could about sales and cheese and turned his fortunes around. He became the No1 sales person the following year and then began implementing some changes.  We hear the rest of his fascinating story in this episode and Max shares with candid honesty the lessons he has learned from his family business experiences and how these might help other family businesses.  You can get in touch with Max here: email maximepg14@gmail.com LinkedIn https://www.linkedin.com/in/maxime-paulhus-gosselin-86681450/  
In the late 1800s, Harry Schweid started selling high quality meats to butchers and restaurants in New York City’s Lower East Side. By the 1930s, his son Sam had his own business in Harlem, selling the best meat around. In 1978, Sam’s son David Schweid took his family’s long withstanding heritage in the meat purveyor industry and founded Schweid & Sons, a company that would focus on one product – ground beef. Today, that same passion, commitment and work ethic is carried on here at Schweid & Sons through David and his two sons Jamie and Brad, all with a dedication to producing the best tasting, highest quality Burger. In this episode we talk to Jamie about his experiences growing up in the business and how they have ensured that family values remain part of the business today despite its size and global reach.   You can find out more about Schweid and Sons here:  www.schweidandsons.com @SchweidAndSons on Twitter and;  https://www.instagram.com/schweidandsons/?hl=en  
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