The Family Business Leader Podcast

Discover the perfect tool to implement when it feels like you and your partner or family member are on different pages when it comes to your business. I'm sharing the most common complaints I hear from my clients who are in this situation, and you'll learn what's going on in your head. And once you understand this, you can get aligned and start reaching an agreement that serves everyone involved.

Get full show notes and more information here:https://successfulgenerations.com/2

Tune in this week to discover the direction I'll be taking this podcast moving forward and the changes you can expect to hear. I work with clients every day who are grappling with real issues, real overwhelm, and real confusion, and if you are leading a family enterprise, this is the podcast for you.

Get full show notes and more information here: https://successfulgenerations.com/1

This podcast for those who are weighed down by all the things that come along with running a family business.

If you're ready to learn the exact tools, strategies, and mindset shifts you need to become the leader you want to be - and have a bit of fun while doing it - subscribe or follow the podcast on your favorite podcast app and visit successfulgenerations.com for more information.

Tune in for an episode of Successful Generations with a difference. Neill Williams is sharing the transformation she's experienced over the past two years of working with me on her mindset in so many areas. If you've ever wondered what goes into the work we do as coaches, this episode is exactly what you need to hear.

Get full show notes and more information here: https://successfulgenerations.com/mindset-transformation

Tune in this week for a discussion with Bob Reid on common misconceptions around family philanthropy, and what it means for the next generation. Bob is sharing how his own research has brought up so much that flies in the face of the critical literature in this field, and we're directly addressing criticisms of family philanthropy when it comes to impact, regulation, and so much more.

Get full show notes and more information here: https://successfulgenerations.com/089

This week, Logan Angel shares her experiences as a second-generation family philanthropist. We discuss her experiences of realizing her family was different than those around them, and her journey through that adjustment. We are also looking at the immersion program she attended with KORE Venture, and how that has impacted her and her family foundation's future for the better.

Get full show notes and more information here: https://successfulgenerations.com/088

Tune in this week as Andrew and I discuss his role in helping the rising generation within families of wealth see the fortune in their hands as a tool and not a burden. Andrew believes that with great contribution comes great fulfillment, and is a big proponent of intergenerational curiosity, helping children and their parents understand the unique positions they are in, and how they can best move forward.

Get full show notes and more information here: https://successfulgenerations.com/087

We all die. The goal isn't to live forever, the goal is to create something that will. –Chuck Palahniuk

Full show notes can be found: www.successfulgenerations.com/epsiode086

QUESTIONS:

1. What do you need to be successful in transferring the business? Why is a business succession plan important?
2. What are the components of a good plan?
3. Why is a valuation important for a family business?
4. Selling to a third party-- why is this thinking advisable even if you plan to sell it to your kids?
5. What are pros and cons of having minority shareholders?
6. In your book, you talk about preparing and protecting heirs-- what do you mean by that?
7. One of the ways to protect heirs from each other is to have a buy-sell agreement, if you agree, what does a buy-sell agreement look like? What are the considerations? (summary on page 78)
8. What is a Charitable Bailout and Charitable Remainder Unitrust (CRUT) "the same basic features: a transfer of a business interest, a charitable contribution, deferral of capital gains taxes, a substantial income tax deduction, and removal of the business interest from the owner's estate."
9. Let's say you sell the business, what's next?

BIO

For more than 20 years, Steven Goodman has provided insightful solutions to the challenges of business succession, wealth preservation and charitable planning, focusing on the needs of owners of closely-held businesses and high net worth individuals. He currently serves over 200 clients. Steven Goodman has authored numerous trade articles for leading trade journals, and has paired with some of the most respected names in banking and finance-among them JP Morgan Chase - to sponsor some 150 seminars about business succession and wealth preservation. His accomplishments have brought the attention of such publications as the New York Times. Steven Goodman is a CPA who was vice president of the Trust and

Investment Division of JP Morgan Chase and a supervisor for KPMG Peat Marwick. He holds an MBA from Fordham University.

Welcome!

Full show notes can be found at www.successfulgenerations.com/episode085

Questions:

• What is a family office?
• Who should create a family office? Who Shouldn't?
• How do you get started? Do you have to have billions of dollars to start a family office?
• Who should lead a family office?
• What are a few best practices and lessons learned?
• What are a few resources newbies should check out when thinking about starting a family office?
• What is FOX's role?
• How can we connect with you?

BIO

Glen Johnson is Chief Operating Officer at Family Office Exchange (FOX). In this role, he is responsible for all aspects of the member experience, ensuring that each family member, family office executive, and trusted advisor has an unsurpassed experience partnering with FOX by providing unique industry knowledge and insights coupled with a safe and confidential environment where members can share best practices. In addition, Glen oversees the operations of FOX and is charged with establishing and executing systems to execute FOX's strategic plan, promoting it's vision and service-centric culture, and enabling the FOX team to work together to exceed our member's expectations.

Glen has over 30 years of experience working with family offices, business owners, and executives, first as an attorney and then as a wealth advisor, eventually founding Mirador Family Wealth Advisors – the multi-family office for Fifth Third Bank. He has worked with business owners and executives across all stages of their business life cycle including business succession. Glen writes and speaks nationally focusing on family and business governance and the unique challenges faced during the sale and transition of closely held businesses.

Glen earned a Bachelor of Sciences degree in Education from the University of Michigan in Ann Arbor, MI and a Juris Doctorate degree from Wayne State University Law School in Detroit, MI.

Resources

The Family Office Exchange

Family Champion with Joshua Nacht

Rising Generation Education with Mindy Earley

Full Show Notes: https://successfulgenerations.com/episode084/

Mindy Kalinowski Earley is Chief Learning Officer for FOX, Family Office Exchange.

Today, she and I dive into what an education program could look like for the rising generation of family enterprise to help them answer the question for themselves:

What does it all mean?

Questions:

About Mindy

Who are the Rising Generation?

Why is Education Important? What does it look like?

What is a family office?

How do you get started with Rising Gen Education?

Who is the Family Champion?

What are the best practices when starting and launching an education program?

How can we find you and additional resources to explore?

The 4 Pillars of FOX's Leadership Curriculum

Enjoy!