In this episode of Navigating in Abundance, Chris Tanke speaks with Tom Emigh from the Family Business Consulting Group about the unique challenges and opportunities faced by family businesses. They discuss the importance of emotional support, collaboration among consultants, and the critical role of succession planning. Tom emphasizes the need for proactive communication and transparency in leadership transitions, as well as the significance of stewardship and legacy in family businesses. The conversation highlights the value of intentional conversations and the role of consultants in navigating complex family dynamics.

For more information on Navigating Abundance: ⁠https://navigatingabundance.com/⁠

To learn more about Tom and the Family Business Consulting Group:⁠ https://www.thefbcg.com/⁠

Chapters

00:00 Introduction to Family Business Consulting

02:55 The Importance of Family Businesses

06:04 Collaboration in Consulting

08:52 Navigating Emotional Challenges in Family Businesses

11:55 Understanding Succession Planning

14:51 The Process of Succession Planning

18:06 Key Considerations in Succession Planning

20:54 Conflict Resolution in Family Businesses

23:52 Taking the First Steps in Succession Planning

25:19 The Challenge of Entrepreneurship

27:54 Navigating Difficult Conversations

29:35 Stewardship and Community Impact

31:45 The Importance of Succession Planning

33:50 Engaging Key Players in Transition

36:41 Communication During Succession

39:49 Creating a Culture of Transparency

42:42 Intentional Conversations for Future Planning

45:33 Building Relationships and Trust

Keywords

family business, succession planning, emotional support, collaboration, stewardship, legacy, communication, consulting, family dynamics, business continuity