*Airdate 5/2/2018

On this episode of Family Business Today, Greg Lewis interviews Dana Holmes of 2nd Generation Capital to discuss planning and funding an exit that includes an eventual passing of the family business to your children.

2nd Generation Capital was originally formed in 1994 to meet family shareholder needs for liquidity, growth financing and ownership transition services. The company services have evolved to provide value for clients at every stage of a company’s lifestyle. Dana Holmes, Managing Member, joined 2nd Generation in 2006.

Dana emphasizes that it is never too early to discuss planning a transition and the biggest hurdle to overcome is poor communication.  He discusses the need to determine the fair market value of the business to avoid unrealistic expectations by both the founding members and the next generation.  He also points out options available, risks involved, 3 crucial reasons to have a buy-sell agreement, and the needs for open discussion, research and careful thought processes.

To learn more about 2nd Generation Capital, visit their website at: www.2ndgeneration.com

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at: www.tncfb.com

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 3/5/2018

On this episode of Family Business Today, Greg Lewis interviews Matt Bodnar of Fresh Hospitality regarding the development and involvement of the next generation in the business.

Fresh Hospitality is primarily an investment company that invests across the food and restaurant value spectrum, with primary focus in restaurant operations and real estate development.  Their business includes 18 restaurant brands at over 180 locations, primarily in the southeast.

Matt shares his insights into how he valued having an open dialogue with the founding generation prior to joining the family company; the biggest challenges in joining the family business; the importance of outside advice and mentoring resources; dealing with disagreements; and advice for those considering joining their family business as well as advice for founders considering having one of their children join the business.  Matt also describes his work as an “accidental podcaster” on his program called “The Science of Success”.

To learn more about Fresh Hospitality, visit their website at: www.freshhospitality.net

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at: www.tncfb.com

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 1/30/2018

On this episode of Family Business Today, Greg Lewis interviews Dr. Bill Bellet of the Legacy Consulting Group in Nashville, TN.

Bill has over 25 years’ experience in the “relationship business” as a clinical and consulting psychologist.  He specializes in conflict resolution, family owned business succession and strategic planning, coaching and developing leaders, career counseling and relationship issues which arise between partners and family members in privately held companies. Bill holds a Doctorate in Clinical and Consulting Psychology from Vanderbilt University.

Bill discusses how being fair is not always being equal in family businesses.  He gives insight into the dynamics of family businesses – “insiders vs outsiders” – and the importance of finding ways to make both stockholders and shareholders feel that they are involved, informed and contributing to the success of the family business.  He also discusses the top issue that all family businesses have in common – avoiding conflict; choosing leaders from the next generation; the top 3 things that family businesses struggle with; and the importance of having someone who can help family business owners and leaders to be objective as they work through these issues.

To learn more about The Legacy Consulting Group, visit their website at: www.tlcg.org

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at: www.tncfb.com

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 1/17/2018

On this episode of Family Business Today, Greg Lewis interviews Jenny Owens and Evan Owens who are co-founders of Reboot Combat Recovery.

Reboot Combat Recovery is a non-profit organization that provides a 12 week course to combat veterans and their families that helps them deal with the spiritual side of healing from combat trauma, post traumatic stress and moral injury.  The business began in Jenny & Evan’s living room in 2011 and has grown to serve veterans and families in 100+ locations in several states and also in Australia.

Jenny and Evan discuss the process that they went through to scale their business from a family ministry to becoming a larger non-profit organization.  They share the values that each of them brought to the business, how they deal with decision making and disagreements, managing boundaries between home and family with two young boys, importance of trusted advisors,  and advice they would give to husbands and wives who are involved in or thinking about getting involved in business together.

To learn more about Reboot Combat Recovery, visit their website at: www.rebootrecovery.com

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at: www.tncfb.com

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 1/2/2018

On this episode of Family Business Today, Greg Lewis interviews Dana Holmes, the Managing Member of 2nd Generation Capital since 2006.

2nd Generation Capital is a boutique firm in Nashville affiliated with local accounting firm Kraft CPAS.  They serve as a broker/dealer and investment banking firm that provides advisory work, valuations, exit planning and strategic planning focused on privately held businesses.

Dana discusses many of the issues that arise in the process of transferring control of a business from generation to generation including:  the importance of transferring skills, not just equity; advantages of a family meeting structure; practices that lead to the best transitions; “company habits”; key employees; roles of non-active family members; and how to’s on determining a leader.

To learn more about 2nd Generation Capital, visit their website at: www.2ndgeneration.com

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at: www.tncfb.com

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 12/12/2017

On this episode of Family Business Today, Greg Lewis interviews Dorcas Cheng-Tozun, author of Start, Love, Repeat:  How to Stay in Love with your Entrepreneur in a Crazy Start-Up World, concerning the conversations husbands and wives should have about their family business partnership.  It is valuable prescriptive guide to how to keep your relationship strong when there’s a start-up in the family.

The idea of starting your own business is exhilarating and inspiring. It’s one over 30 million Americans pursue. But being the significant other of an entrepreneur is not so glamorous. Boundaries between work and home disappear. Personal savings and business funds become intertwined. You can feel like a single parent as your spouse travels, works late hours, and answers calls and e-mails 24-7. You may even sacrifice a career or move your home for the sake of the business.

But there are strategies you can use to combat all this stress and uncertainty. Whether you’re new to the start-up world, or a long-term entrepreneurial partner, START, LOVE, REPEAT will help you understand exactly how a start-up affects your lives-and what you can do to build a happy and healthy relationship in the midst of the madness. 

Dorcas Cheng-Tozun has not only done extensive research, she has lived through the perils and pitfalls of being with an entrepreneur as the wife of the CEO and cofounder of successful start-up d.light. She offers clear-sighted, first-hand advice for any couple considering making the same leap. She further draws on interviews with other successful entrepreneurs and their significant others, executive coaches, marriage-family therapists, venture capitalists, and start-up authorities to provide practical insights and steps any couple can take to build a strong relationship while launching that dream business.

To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 11/30/2017

On this episode of Family Business Today, Greg Lewis interviews Steve Richards, Founder and Chairman of Richards and Richards Office Records Management, Inc.

Richards and Richards is a Nashville based family business specializing in record storage, secure shredding, scanning, data storage and medical waste.  Celebrating their 30th anniversary on May 15, 2017, Steve says that two of the greatest keys to their success as a family business are honesty and taking care of your employees. He says that if you take good care of your employees, then good customer service follows. In this podcast he shares 4 ways they have developed a positive and thriving culture at Richards and Richards and how the business is successfully transitioning to the next generation while they continue to increase the value of the family asset.

To learn more about Richards and Richards Office Records Management, visit their website at:

Family Business Today is hosted by Greg Lewis.  Family Business Today is produced by the Tennessee Center for Family Business.  To learn more about the Tennessee Center for Family Business, visit our website at:

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

*Airdate 11/13/2017

On this episode of Family Business Today, Greg Lewis interviews Jamie Fritz of Dabble Studios.

From DabbleStudio.com: "Dabble Studio is here to give you opportunities to “dabble” in the creative worlds of art, food, and more. Our recreational painting and cooking classes take place in our clean contemporary Nashville studio, a great place to spend an evening with old friends or new, and a terrific venue to consider when planning your next team building event, private party, or bachelorette party."

http://dabblestudio.com/

Family Business Today is hosted by Greg Lewis. Family Business Today is produced by the Tennessee Center for Family Business. To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

*Airdate 10/2/2017

On this episode of Family Business Today, Greg Lewis interview Andy Marshall, Founder of A. Marshall Hospitality.

A. Marshall Hopitality Inc. is a Middle Tennessee-based company comprised of eleven family-owned restaurant and hospitality businesses in Middle Tennessee, including: · Puckett's Gro. & Restaurant, Puckett’s Boat House, Homestead Manor, Scout’s Pub, Hattie Jane’s Creamery, and Deacon's New South. Each family owned eatery focuses on providing friends new and old with home-cooked food and Southern hospitality, the Marshall way. 

A. Marshall Hopitality Inc. was recognized on the 2014, 2015 and 2016 Inc. 5000 list of America’s fastest growing companies. With 500-plus employees, the company’s restaurants and hospitality venues achieved a 598% level of growth that earned A. Marshall Hospitality the 653rd spot on the 2016 list. Of the 40 Tennessee companies that made the cut, A. Marshall Hospitality’s growth landed them fifth on the statewide list and third in the Nashville metro area. The company was the state’s only top-20 honoree in the Food & Beverage category.

http://amarshallfamilyfoods.com/

Family Business Today is hosted by Greg Lewis. Family Business Today is produced by the Tennessee Center for Family Business. To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

*Airdate 8/31/2017

Welcome to Family Business Today where we feature prominent local and national family business owners. We will also talk to top family business experts to discuss relevant topics including communications, business culture, family relationships, succession and estate planning, values as well as conflict resolution.

Brought to you by the Tennessee Center for Family Business, I’m your host, Greg Lewis. Today we will be talking about 3 Simple Rules for Setting Family and Business Boundaries.

You may have heard the statement that family and business don’t mix together. The question is “DO THEY?”

Co-founder and CEO of Infusionsoft, Clate Mask, would tell us that building a $60 million business with over 400 employees (many of whom are family and friends), and doing it with two brother in-laws, was not easy, but it can be done-well if the right boundaries are set from the get go.

There are plenty of pro’s and con’s as to family members working together.

Today we will focus on setting three simple boundaries to protect both the family as well as the business from interfering with each other’s purpose and objectives.

The First Boundary is.…. Protect Family Time

This is much easier said than done. Even for spouses who do not work for the same business, work often becomes the topic of the conversation at the dinner table. The temptation to cross the family / business boundary while at home becomes that much greater when two or more members of the family work for the family business.

The Second Boundary is…. Protect the Integrity of The Business

It’s not easy, but it’s absolutely imperative that we don’t set different standards for family members versus non-family member employees. This makes much sense on the surface, yet it’s probably one of the most ignored family & business boundaries.

Boundary 3…. Protect Relationships

Losing family relationships over business is not worth it. People always come first. Relational strain due to unresolved business issues is common, so what boundaries can we set to protect business issues from ruining family relationships?

If you have a specific topic that you would be interested in us having a program on, send us an email to [email protected].

To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com.

Until next time…Thanks for joining us.

Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/