Introduction

Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) 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 Exchange or its employees.

Description

In this episode, Dr. Lee Hausner sits down with Ruth Steverlynck for part 1 of a 2-part conversation answering questions posed by FEAs. Topics covered in this podcast include: what to do when members of the rising generation are not willing or able to take over the family business; how advisors can help in situations where family leaders will not let go; what is different about advising family businesses today; and more.

Guest bio

Dr. Lee Hausner is an internationally-recognized clinical psychologist, business consultant, and family wealth advisor. She served as the senior psychologist for the Beverly Hills Unified School District for 19 years and is currently the Senior Managing Director for First Foundation Advisors. Dr. Hausner is a graduate of Northwestern University (BA, Psychology), San Francisco State University (MA, Psychology), and Kensington University (Ph.D., Psychology).

You can find out more about Dr. Lee Hausner here.

Key Takeaways

[0:30] Ruth Steverlynck is thrilled to welcome and introduce the internationally recognized clinical psychologist and business consultant Dr. Lee Hausner to today's episode.

[3:45] The overall assessment of "fit" between the rising generation and the family business is, according to Dr. Hausner, a multi-part question. She breaks down the different aspects of this, and how each can be tangibly addressed from a family and a business standpoint.

[5:49] Engaging the next generation in a positive representation of the family business starts early; Lee shares some practical tips on how to identify and promote traits that could be valuable for the business as well as the other way around!

[10:20] Dr. Hausner explains what she means by a "family welfare state" and answers the question: does skill play a bigger part than attitude when integrating children into the family business?

[14:00] What about a situation in which a family's children may not be capable or even interested in leading the family business? Lee shares a few practical tips for advisors to navigate an example situation from her own practice.

[18:35] Encouraging an overdue retirement by a matriarch or patriarch can be a delicate situation. Dr. Hausner shares a few situations she's encountered and the pointed interventions that helped resolve the issues.

[25:31] Dr. Hauser shares a very interesting story about what advisors can do to help when there are more than one interested and qualified children to take over.

[26:52] Ruth asks interesting listener questions about Dr. Lee Hausner's career and advisory style, from the evolution and complexity of family businesses and their needs to the fundamental paradigm shift between being and doing in an advisory role.

[33:50] Ruth thanks Dr. Lee Hausner and invites listeners to subscribe to the podcast and tune in for Part 2 of this enlightening series.

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Mentioned in this episode

Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.

Books:

Children of Paradise: Successful Parenting for Prosperous Families, by Dr. Lee Hausner

Hats Off To You 2: Balancing Roles and Creating Success in Family Business, by Dr. Lee Hausner

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