The Family Business Podcast

A Conversation with Jay Hughes and Martin Stepek This episode is one of the most profound and far-reaching conversations we have ever shared on The Family Business Podcast. Joined by the legendary James E. Hughes Jr. and my colleague Martin Stepek, we explore the idea that wealth, at its deepest level, has always meant wellbeing, and that wellbeing itself is a powerful form of wealth. What follows...

Summary In this episode of the show I bring together what we have covered in the series so far. We further explore the concept of Empowered Ownership, emphasising its distinction from authority and the importance of clarity in decision-making. It highlights how aligned ownership can lead to successful governance and family relationships, while misaligned ownership poses risks to continuity. Owners...

Summary In this episode, Russ Haworth discusses the importance of ownership in business strategy and the need for clear roles and alignment among owners. He emphasizes the significance of preparing future generations for ownership and ensuring healthy relationships with management teams. Links The Four Room Model - https://banyan.global/spotlight/the-four-room-model/ Episode with John Davis discus...

Summary In this conversation, Russ Haworth explores the intricate relationship between family values and the underlying needs that drive them. He emphasises that when families disagree over values, they are often expressing unmet or conflicting needs. For instance, valuing loyalty may indicate a need for security, while valuing freedom may reflect a desire for autonomy. This understanding can tran...

Summary In this conversation, Russ Haworth discusses the complexities of shared ownership in family businesses, emphasising the importance of individual fulfillment and the need for a collective vision that respects diverse goals. He highlights that alignment in ownership does not require uniformity, but rather a common understanding of how the business can support each family member's aspirations...

Summary In this episode of the Family Business Podcast, Russ Haworth delves into the concept of empowered ownership, emphasising its significance as a foundational principle for family businesses. He discusses the rights, roles, and responsibilities that come with ownership, and how clarity in these areas can lead to more constructive conversations and better decision-making within families. The e...

Summary In this episode, Russ Haworth introduces a new direction for the Family Business podcast, focusing on real conversations with families rather than interviews with external guests. He emphasizes the importance of relationships, responsibilities, and legacy in family businesses, advocating for a flourishing life both personally and professionally. The episode outlines the three pillars of mi...

In this episode of The Family Business Podcast , we explore two closely connected ideas from the Eightfold Path: Right Mindfulness and Right Concentration — or what we might now call focus. Mindfulness, when taught well, is a powerful three-part skill: notice, pause, change . It allows us to catch unhelpful thoughts or reactions before they spiral, giving us the space to shift into a wiser frame o...

In this episode of The Family Business Podcast , we take a closer look at Right Effort — a reminder that meaningful change doesn’t happen by chance, and it doesn’t happen overnight. Drawing from the Buddhist tradition, Martin explains that the word “Right” here means skilful . Skilful effort is steady, thoughtful, and sustainable. It isn’t about perfection or pushing yourself to exhaustion — but n...

In this episode of The Family Business Podcast , we explore Right Livelihood — a concept that feels strikingly modern, despite being taught by the Buddha over 2,500 years ago. Today we hear terms like purpose-driven business , CSR , or ESG , but the heart of the idea is timeless: how we make our living matters. Not just in terms of profit, but in terms of integrity, impact, and alignment with our...

In this episode of The Family Business Podcast , we turn our attention to Right Action , one of the eight elements of the Eightfold Path, and a powerful lens through which to view our choices, habits, and impact on others. But what does “Right” really mean? As Martin explains, it's not about being perfect or morally superior. It’s about being skilful . Making choices that are wise, kind, and const...

Certainly. Here's a refreshed episode title and updated show notes that reflect the focus on communication while staying true to the content and tone of The Path : 🎧 New Episode Title: "The Lost Art of Listening: Mindful Communication in a Noisy World" Show Notes: In this re-released episode of The Family Business Podcast, we explore how mindfulness can radically improve the way we communicate —...

Right Intention: Skilful Thinking for a Better Life In this episode, we take a closer look at one of the eight elements of the Eightfold Path — Right Intentions, sometimes called Right Thoughts. The word “Right” here does not mean morally superior or correct in a rigid sense. It is better understood as skilful or wise. This matters because the quality of our thoughts shapes the quality of our live...

In this look at the Four Noble Truths, we turn to the most practical element — the path forward. The Fourth Noble Truth teaches that if we want to reduce suffering and build a more peaceful life, we need to develop certain skills. These are not abstract ideas, but habits of mind and behaviour that can be cultivated through deliberate effort. This is what the Buddha’s Eightfold Path offers. Each pa...

The Third Noble Truth: The End of Suffering In this episode, we continue our series on the Four Noble Truths by exploring the Third — the truth that suffering can end. The Buddha taught that while life involves dissatisfaction and struggle, it does not have to stay that way. When we learn to understand and reduce the “thirsts” — the cravings and aversions that drive our reactions — we begin to cre...

The Second Noble Truth: The Cause of Suffering This episode continues our exploration of the Buddha’s core teachings, looking closely at the Second Noble Truth. While the Four Noble Truths and the Eightfold Path are ancient concepts, they remain powerful tools for understanding modern life. The Second Noble Truth teaches that much of our dissatisfaction and suffering comes not just from what happe...

The Four Noble Truths: Understanding the First Step In this episode, Martin and I begin our exploration of one of the most enduring teachings in mindfulness and Buddhism: The Four Noble Truths. These are not abstract religious ideas, but practical insights into how we might live with greater awareness and less unnecessary suffering. We start with the First Noble Truth. This teaches that life, by i...

Summary In this episode of the Family Business Podcast, Russ Haworth, Martin Stepek, and Alec Broadhurst discuss the intersection of mindfulness and family business dynamics. They explore personal journeys into mindfulness, the Four Noble Truths, and the Eightfold Path, emphasizing the importance of understanding emotional challenges within family businesses. The conversation highlights the value...

Summary In this episode of the Family Business Podcast, Russ Haworth speaks with Annamaria Koerling, founding partner of Delfin Private Office, about the evolving landscape of family offices. They discuss the importance of governance, the unique challenges of succession planning, and the role of philanthropy in fostering family cohesion. Annamaria emphasises the need for tailored governance struct...

Given the recent changes in legislation announced in the Budget, I am re-releasing this episode to highlight the value and importance of Lifeboat Drills for your Family Business. An actual lifeboat drill is essentially a practice evacuation of a ship using the lifeboats on board. I am not advocating everyone rushing out and practising evacuations, however it is the purpose of a lifeboat drill that...

Summary In this episode of the Family Business podcast, Russ Haworth and Matt Braithwaite discuss the critical importance of succession planning for family businesses, drawing on recent research conducted by the Society of Trust and Estate Practitioners (STEP). They explore the alarming statistics regarding the lack of succession plans and up-to-date wills among family business owners, the complex...

Summary In this episode of the Family Business Podcast, Russ Haworth interviews Sandy Pollack, author of 'Don't Leave a Mess.' They discuss the importance of clarity in estate planning, the impact of money scripts on family dynamics, and the qualitative factors that influence wealth management. Sandy emphasises the need for open family conversations about money and legacy, and how these discussion...

Summary Cathy Carroll, author of 'Hug of War', discusses the unique challenges of leading a family business with both love and logic. She explores the concept of polarities in family businesses, where opposing forces such as candor and diplomacy, or reveal and conceal, coexist and create tension. Cathy emphasizes the importance of adopting a 'both-and' mindset to find innovative solutions that inc...

Summary Cathy Carroll, author of 'Hug of War', discusses the unique challenges of leading a family business with both love and logic. She explores the concept of polarities in family businesses, where opposing forces such as candor and diplomacy, or reveal and conceal, coexist and create tension. Cathy emphasizes the importance of adopting a 'both-and' mindset to find innovative solutions that inc...

Summary In this episode of the Family Business podcast, Tom McCullough and Keith Whitaker discuss their book, The Wealth of Wisdom. They share their backgrounds and how they came to collaborate on the book. The second version of the book focuses on providing practical tools and exercises for families to enhance their communication and address important topics. One chapter highlights a family self-...