The Family Business Podcast

Over the course of this series on Governance we have covered a lot of different topics and so this episode brings the series to an end with a summary of all the different governance topics and how they all knit together. Making the decision to implement any of these governance forums takes time and care and perseverance and so I discuss how to approach the discussions with your family. As ever, pl...

In this episode we look at Corporate Governance and in particular the Wates Principles. The Wates Principles are a set of Corporate Governance principles that some large businesses need to report against. In this episode I discuss these principles and how they can be adapted and adopted by your Family Business. I also look at some of the legal structures that can be put in place to protect the sha...

The appointment of a Non-Executive Director is a key milestone in the evolution and professionalisation of a family business. They bring experience, expertise and an independent voice to your board meetings and they are there to challenge the executive directors, in a constructive way to help you push the business towards its strategic goals. In this episode I cover who would be a good fit and who...

As a family business grows the need for the right forums to be in place to discuss the important strategic goals of the business is really important. Once such forum is the Board of Directors. In this episode of the show I discuss when you would want to introduce a board to the family business, and how. Who sits on the board, what are their responsibilities? How many board members should there be...

Continuing our look at Family Governance, in this episode I discuss the Family Assembly, or Retreat / meeting.  I cover what they are, who attends them and what subjects are covered, along with some hints and tips as to how to get your own family meetings up and running. We also look at how they interact with the other elements of Governance that we have been discussing over recent episodes....

Family Councils create a bridge between the business family and the family business board. In this episode of the show I explain what a family council is, what roles and responsibilities they have and how you would typically elect members to the council. I also cover the important role of the Chair of the family council, the skills they are likely to need and the way in which the Family Council in...

The Family Charter is the cornerstone or foundation document of a family governance system. It is the bedrock on which everything else is built. It is also known as a Family Constitution or agreement. It is the main document that the family use to outline their values and vision for the family business.  Whilst rare they are gaining recognition and being adopted by many families. In this epis...

When the podcast started the intention was for it to become a valuable resource for family businesses around the world. I have a passion for providing useful content and support to family businesses and this is shared by the Institute for Family Business. With this in mind we have agreed to collaborate with each other going forward. The podcast is moving to a series based podcast with series on Go...

Governance is a word that is often thrown around by the family business advisory community and with good reason. However, it is often taken for granted what we mean by 'governance' and so to kick off this series on that very subject I thought it would be useful to provide an overview of what governance is. Why it is useful, some of the common barriers to putting governance in place and then some t...

George and I headed along to the fourth Family Business Network conference in Carlisle. It was a fantastic conference with great speakers and guests, I was also asked to record a live podcast and this is the result. I interview George Bryan who grow up at Drayton Manor Park, listen to this episode if you want to hear his views on the transitions that he has witnessed and been part of and why Toto...

Succession Planning (or continuity planning!) is such a broad topic and as such it can be intimidating and very easy to put off. In this episode I speak with Daniel Trimarchi and we break down the three core elements of succession / continuity planning in a family business.    Daniel Trimarchi is a Senior Manager and Family Business specialist with KPMG, at the time of recording he was about to em...

The Family Business sector in the UK contributes more than the annual budget for the NHS each year. Their importance cannot be under-stated and the IFB have produced a report that highlights the trends and challenges facing family businesses today.    In this episode I speak to Fiona Graham of the Institute for Family Business about the findings in the report and what family businesses can learn f...

Steve's previous episode remains the most popular episode to date and so there is huge pressure on him delivering again in this show!    Luckily he doesn't disappoint! In this interview I chat to Steve about the book he mentioned he was writing during our previous interview. The book is called Interdependent Wealth: How Family Systems Theory Illuminates Successful Intergenerational Wealt...

Each year The IFB hold a conference for Family Businesses and if you missed it, check out this episode to hear what the key points and takeaways were from the conference.    We hear about the importance of cultivating culture and how family owned businesses are perfectly placed to create working cultures that attract and retain staff.    Elizabeth Bagger is the IFB Director General. She joined the...

One of the most common questions we are asked when considering the 'best' path for next generation family is whether or not they should seek experience outside of the family business.    How do next gen go about seeking this experience and is there a danger that this will mean that they won't actually return to the family business.    I chat to Andrew Keyt and address these questions in this episo...

Businesses need to take advice from experts to help them navigate the sometimes tricky areas of law, tax and financial services amongst others.     Traditionally this may be through several different individual firms or  that everything goes through an individual trusted adviser who is seen as the 'gatekeeper'. But is this model fit for purpose?   Is there an alternative that is better aligned to...

Joshua Nacht is a consultant with The Family Business Consulting Group.    His new book Family Champions and Champion Families he explores the value of family leaders in creating enduring business family success. We discuss this in this episode.    The family champion is typically a family owner who acts as a catalyst to help other family members become more effective. In order to facilitate signi...

There is a growing number of family offices across the world. But what are they and why would a family consider using one.     In this episode I chat to Andra Ilie who works for a private or family office about the different roles that a family office can play and why they are becoming more and more popular.  We look at the difference between single family and multi family offices and hear some pr...

Tom McCullough along with Keith Whitaker have created a book and podcast series that focusses on the Top 50 Questions that wealthy families ask.    Tom and Keith collaborated with some of the most respected advisers in the field of family business to create this fantastic resource.    In this episode I chat with Tom about the process, some of the common areas that cause concern for business famili...

Emily Griffiths-Hamilton is a Chartered Accountant, a Family Enterprise Advisor and a Conflict Resolution Coach who brings three generations of experience to the subject of wealth and family-business transition planning.   In this interview we chat about the Vancouver Canucks, the discussions Emily had with her family when she decided to leave the family business and we discuss her new book i...

Rochelle Clarke, global strategist and business succession expert, helps family businesses overcome barriers to succession transitions. With nearly 20 years of professional experience, Rochelle combines a variety of best practices and practical solutions to balance strategic thinking and operational practicality for businesses of all sizes.   Succession Strength was founded by Global Strategist an...

The word disruption can have negative connotations, it can make you feel uncomfortable and wary. But, it can also be an opportunity to change, an opportunity to pivot and embrace change.    In this episode we speak with Prof. John A Davis on MIT Sloan bout his new role, what his research on disruption shows and how firms can adapt to this.    We also discuss the impact of increased longevity on fa...

Timpson is one of the most recognised names on the UK High Street and Sir John Timpson, as Chairman of the business founded by his great grandfather chats to us about the management style adopted at the businesses over 2,000 branches.    In this interview I chat to Sir John about the history of the business, the fantastic culture that has been created and the challenges that were faced in convinci...

Caroline Gourlay is an independent Business Psychologist. Since qualifying in 1997 she has worked with a diverse range of organisations in the public and private sectors, either directly or as an associate of larger consultancies.   In this episode we discuss the pitfalls that can impact on leadership and how to avoid these pitfalls.    Some of these are specific to family business others are more...

Here in the UK there are some new rules coming into force in January that are primarily aimed at large privately owned businesses.  This will include many family owned businesses and so we speak to Matt Timmons and Suzi Woolfson from PwC about what these changes are and what they mean for your business.  If you are a smaller business that isn't affected, or based outside the UK it is still worth a...