Episode 78: A Century of Style, A Heritage of Service - M. Dumas & Sons

Our guest today is Gary Flynn, CEO and Co-Owner of M. Dumas and Sons, in Charleston, South Carolina.

Founded in 1917 by Mendel Dumas, M. Dumas & Sons has evolved into an iconic men’s specialty retailer in historic downtown Charleston, S.C. Initially known as a uniform shop for service jobs, M. Dumas & Sons evolved to become the sole provider of uniforms for naval officers stationed in Charleston. M. Dumas & Sons transitioned full-time into the men’s apparel arena in 1993.

In the fall of 2015, M. Dumas & Sons completed a $2 million renovation of its iconic store, and today, Charleston locals and tourists alike still consider M. Dumas & Sons a welcoming, historic King Street specialty retailer who is a permanent staple of the city’s landscape.

In this episode of Family Business Today, you will learn:

• How a 100+ year old family business adapts to change to make it the successful company it is today

• What a non-family leader should consider before joining a family business

• How core values help in making high-level decisions in their family business

• How conflict is handled when making business decisions

• The most important component of a successful multi-generational family business

• And more…

To learn more about M. Dumas & Sons, visit their website at www.mdumasandsons.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 77: The Original Precast Plunge Pool, Crafters of Your Comfort

Our guests today are husband and wife duo, Karen and Brian Larson, founders of Soake Pools, Inc., located in Pembroke, New Hampshire.

Since founding Soake Pools in 2014, the Larsons have been manufacturing precast plunge pools with an unwavering attention to detail and quality, and the personal touch their customers deserve. With Brian overseeing production and Karen spearheading sales and marketing efforts, the pair relies heavily on the support of their staff—over a quarter of which is family, who support the sales department and business management team.

In this episode of Family Business Today, you will learn:

• How boundaries are established between family and business

• How they solve disagreements as it relates to business decisions

• Advice for couples working together in a Family business

• How they make decisions on hiring family members for the business

• How they handle conflict between family and non-family team members

• And more…

To learn more about Plunge Pools and Soake Pools, Inc., visit their website at www.soakepools.com

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 76: Embracing Sustainability in Your Family Business

Our guest today is Elizabeth Bagger. Elizabeth is the former Director General of the Institute for Family Business (IFB) in the UK, a membership organization she was proud to serve for 12 years.

Her passion for family business led her to establish Avanti Family Business Advisory in September 2021 to support individual family businesses on their journey towards more harmonious family dynamics, stronger family governance and next generation integration and education. Along with her work with and for family businesses, Elizabeth spent almost a decade working for her own family business where she now serves as a non-executive director.

In this episode of Family Business Today, you will learn:

• What makes family businesses unique from non-family businesses

• How to build a resilient business for the long term

• How to combine legacy building with innovation and an entrepreneurial mindset

• Who should start the succession conversation and how

• What common mistakes family businesses make when it comes to family governance

• And more…

To learn more about Elizabeth and her work with family business, visit her website at www.avanti-fba.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Episode 75: Jumpstart your Exit with Ivan and Mariana Polic

Our guests today are Ivan and Mariana Polic, bestselling authors, internationally recognized speakers and advisors of family business leaders and their businesses. For over a decade, they have been training, educating and inspiring people to break through their limitations and build and grow a successful, sustainable family and business.

In this episode of Family Business Today, you will learn:

• What is the one consistent issue that all family businesses have

• What is so important to understand the why and how to exit a business

• The difference between being the successor and the founder of a family business

• What Successful DNA is and why it is important to a family business

• What is the most important ingredient of a family business

• And more…

Ivan and Mariana Polic are the authors of Family Business Mastery: Bridging Legacy and Innovation to Build a Family Business That Lasts for Generations. You can learn more about the Polic’s and purchase copies of their book at www.jumpstartyourexit.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 74: Scaling Up your Family Business with Jonathan Goldhill

Our guest today is Jonathan Goldhill. Following the sale of his family’s men’s apparel manufacturing company started by his great-grandfather, Jonathan formed his own consulting and coaching business. He helps business owners and leaders define and find their version of freedom by guiding owners through 1-on-1, peer group, group coaching and team coaching programs.

In this episode of Family Business Today, you will learn:

• Seven things a family business owner must get right to grow their family business

• What is vivid vision and how is it related to predictable income for a family business?

• What role a coach or facilitator plays in family business succession or generational transition?

• What makes succession planning controversial in a family business?

• And more…

Jonathan is the author of Disruptive Successor: A Guide to Driving Growth in Your Family Business and host of the podcast: Disruptive Successor Show.

Copies of his book are available at www.disruptivesuccessor.com. To learn more about Jonathan Goldhill visit his website at www.the goldhillgroup.com.

 At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 73: The Role Empathy and Understanding Play in Resolving Conflict, with Dr. Darlene Williams-Prades

Our guests today are Dr. Darlene Williams-Prades and her husband, Keith. Dr. Darlene Williams-Prades is the founder of Superior Love Forever. She is also an Air Force veteran, mother of three, a bonus mom of two, and cherishes her role as grandmother to four grandchildren.  With over 30 years of professional experience, Dr. Williams-Prades urges individuals to embrace their authentic selves and pursue their aspirations with vigor.

She was appointed as the Co-Chair for FEMA's Inclusive Diversity Council and recently spoke at the University of Michigan. Her mission is to empower others to carve out their legacy.

In this episode of Family Business Today, you will learn:

• Key challenges family businesses experience with communication and conflict resolution

• Strategies for helping family businesses overcome these challenges

• Common misperceptions family businesses have about conflict resolution and how to deal with those misperceptions in your work

• Some common misperceptions family businesses have about conflict resolution and how to deal with those misperceptions in your work

• What is the ideal outcome of conflict resolution mediation for family businesses

• And more…

To learn more about Dr. Darlene Williams-Prades and her commitment to helping others reach their full potential in life, visit their website at www.superiorloveforever.net.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 72: A husband and wife team, Kay Lee and Robert Fukui, offer tips on helping family businesses deal with conflict at home and in their business

Our guests today are Robert and Kay Lee Fukui. Robert and Kay Lee are the co-founders of Power by i61, Inc., a business consulting company. Their passion is to see marriages flourish in the midst of building a profitable business and to help the entrepreneur couple understand that you don’t have to sacrifice the marriage and family for the business. 

Together, they have developed an innovative program, Power Couples by Design, which equips the married entrepreneur to build a Thriving Marriage AND Prosperous Business.  

In this episode of Family Business Today, you will learn: 

• What are the most common types of conflict in a family business? 

• Practical tips to deal with conflict 

• What is the price of not resolving conflict in a family business?   

• How do you hold family members accountable in a family business and still preserve the relationship? 

• How do you deal with a family member who wants a JOB, but you don’t think they would be a good fit? 

• How do you deal with a family member who tends to stir the pot and create trouble? 

• And more… 

Kay Lee and Robert are the authors of the book, Tandem: The Married Entrepreneurs’ Guide for Greater Work-Life Balance. 

Copies of their book are available at www.amazon.com and www.thetandembook.com. To learn more about Power by Design visit their website at www.marriedentrepreneur.co. 

 At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com. 

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value) 

Until next time, There’s No Business Like a Family Business…. We Know! 

Episode 71: The Power of Legacy in a Family Business

Our guest today is Charlie Leichtweis. Charlie is the founder of Experts in HOW and a 30-year business veteran with a strong track record of success at some of America’s best-known companies. His experience as a CEO and serving on the board of a prominent family-owned business inspired him to create Experts in HOW to help family businesses establish the high level of governance, leadership development and generational engagement that can preserve their wealth and ensure their success for generations.

In this episode of Family Business Today, you will learn:

• How do you handle the situation where family members have conflicting objectives?

• How can you build trust across generations and family branches?

• How do you give voice to all members of the family?

• How does the direction of the business change across generations?

• Which comes first, the business or the family, when making decisions?

• And more…

Charlie is the author of several books including THE POWER OF LEGACY IN FAMILY BUSINESS and host of the internationally recognized podcast THE POWER OF RESPECT PODCAST

Copies of his book are available at www.amazon.com. To learn more about Charlie Leichtweis visit his website at www.expertsinhow.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 69: Leading with Emotional Power with Dr. Julia DiGangi

Our guest today is Dr. Julia DiGangi. Dr. DiGangi is a Neuropsychologist, author, speaker, and Founder of NeuroHealth Partners. On today’s podcast she will show us how to harness the power of the brain to lead more satisfying and emotionally intelligent lives at home and in our family business.

In this episode of Family Business Today, you will learn:

• How to harness the power of emotional energy to Thrive not just survive

• How to overcome the stumbling blocks of communications with family members

• How to understand emotional energy to navigate stress (financial, economic, personnel, sales)

• When painful things happen, how do we get unstuck when you are feeling stuck

• And more…

Dr. Julia DiGangi is the author of ENERGY RISING: The Neuroscience of Leading with Emotional Power. Dr. DiGangi shares neuroscientifically grounded insights and compelling stories that bring principles to life. Copies of her book are available on amazon.com. To learn more about Dr. Julia DiGangi visit her website at www.drjuliadigangi.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 68: Entrepreneurial Family Business: From Survival to Success with Dr. Dianne Welsh, Distinguished Professor of Entrepreneurship at the University of North Carolina Greensboro

Our guest today is Dr. Dianne Welsh. Dr. Welsh is a known scholar in entrepreneurship, family business, and franchising at the University of North Carolina Greensboro. She grew up in her family business, Boyt Division of Welsh Sporting Goods.

Dr. Welsh has published 130 journal articles and eight books, including the go-to book for cross-campus entrepreneurship programs, Creative Cross-Disciplinary Entrepreneurship.

In this episode of Family Business Today, you will learn:

• How growing up in her family business influenced her thoughts on the cross-sector of entrepreneurship and family business

• What the difference is between learning about entrepreneurship and learning about business

• How a family business can create an environment for entrepreneurship to flourish beyond the first generation

• What a NextGen leader can do to help their family business survive past the first generation

• Is there an indicator for family business success?

• And more…

Dr. Dianne Welsh is the author of Entrepreneurial Family Business: From Survival to Success.  Her book focuses on the role of innovation in the development and longevity of her family business, Boyt®. It highlights the integral roles that each person plays in the success of a business and emphasizes that each role deserves respect and praise. To get your copy, visit Entrepreneurial Family Business.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 67: Join me at a storied family-owned pub, Bumpa’s, located in the historic French Quarter, Charleston, South Carolina, where everybody knows your name

Our guests today are brothers, Dan and Conor Sullivan, owners of Bumpa’s, in Charleston, South Carolina. Bumpa’s serves up specialty French fries, proprietary-blend burgers, and other elevated bar food in tribute to their grandfather, “Bumpa”.

In this episode of Family Business Today, we will share:

• How their experiences working somewhere else helped prepare them to launch a family-owned business

• What the founding principles their business is built on and how they maintain them on a daily basis in their work

• Learn how two brothers communicate with each other to ensure business success

• The “rules” they have in place when conflict arises

• How they survived as a restaurant during COVID

• Advice to siblings who are considering working together in a family business

• Like their food, what are the secret ingredients for establishing boundaries between work and business relationships

• What the future looks like for Bumpa’s

• And more…

To learn more about Bumpa’s, visit their website at Bumpa's .

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 66: Planning Your Family Business’ Path to Long Term Success with Pete Walsh, Master Coach, with the Family Business Performance Center in Peoria, Arizona

Our guest today is Pete Walsh, Master Coach, with the Family Business Performance Center in Peoria, Arizona. Pete spent 16 years working in his 89-year-old family business and knows firsthand the challenges most family businesses face.

Today Coach Pete provides honest and objective feedback that helps families work better together as high-performing teams and reach new levels of success.

In this episode of Family Business Today, you will learn:

• What some of the most common obstacles family business leaders face

• How should next gens answer the question “Is the family business the right place for me?”

• Are there family situations that are irreconcilable?

• How coaching is different from counseling or consulting

• Trends that are helping or hurting business transitions to the next generation

• And more…

Pete Walsh is the author of Family Business Playbook, Your Family’s Path to Long-Term Success. To get your copy, visit Family Business Playbook. To learn more about Family Business Performance Center, visit their website at Family Business Performance Center.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 65: What is the Role of Spouses in a Family Business? with Sara B. Stern

Our guest today is Sara B. Stern. Sara is a Certified EOS Implementer with EOS Worldwide focused on multigenerational family businesses.

As the former director of the Family Business Center at the University of St. Thomas, trained coach and Certified EOS Implementer, Sara works exclusively with a limited number of family business leaders who want to maximize the impact they have on their companies, families, and communities.

 In this episode of Family Business Today, we will share:

• How to decide on an appropriate, constructive role for you as a spouse in your family business.

• How you can help your spouse keep boundaries between family and business as clear as possible.

• What role a spouse should take when dealing with sibling rivalries and parent/child disputes in your business.

• What should a spouse consider before joining their spouse in the family business.

• And more…

You can find Sara B. Stern’s book, Married to the Family Business: A Handbook for Spouses of Family Business Owners, at Amazon.com, and to learn more about Sara and her business, visit her website at Sara B. Stern.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 64: The Multi-Generational Family Business Behind Some of the Biggest Concert Productions in North America Today with Bob Romeo, Chairman of Romeo Entertainment Group in Nashville, TN

Our guest today is Bob Romeo, Board Chairman, Romeo Entertainment Group, Nashville, Tennessee. Bob followed in the footsteps of his father, Don Romeo, who founded Romeo Entertainment Group in 1954. Today the 3rd generation, RJ Romeo and Michelle Romeo, are managing the daily operations of REG.

Romeo Entertainment Group is a full-service entertainment agency. For more than 65 years they have managed talent buying for fairs, festivals, clubs, casinos, corporate and rodeo events.

 In this episode of Family Business Today, we will share:

• How Don Romeo started the family business in 1954 and what Romeo Entertainment Group does today.

• Stories about working with acts from Lassie and the Three Stooges to the Rolling Stones and nearly every country act.

• Why it was important to Don and Bob for the company to remain a family business and prepare it for transition to the next generation.

• Why it is important for business owners to be storytellers.

• Advice to a family business owner who may be considering inviting their children to join the family business.

• What the future looks like for Romeo Entertainment Group.

• And more…

To learn more about Romeo Entertainment Group, visit their website at Romeo Entertainment Group.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 63 : A Five Generation Family Business Shaping Solutions for Tough Raw Materials with Mac Steele, President, JC Steele & Sons

Our guest today is Mac Steele, President of JC Steele & Sons, Statesville, North Carolina. 

Mac along with his cousin, Marian Steele Clark, joined the family business in 2010 founded by their great-great grandfather, JC Steele, in 1889.  Mac oversees all worldwide sales and customer service.

JC Steele & Sons is the corporate parent of The Steel Group and the global leader in stiff extrusion machinery and solutions for customers in heavy clay, iron & steel, ferro alloys and gypsum/wallboard.

In this episode of Family Business Today, Mac will share:

• The story of how JC Steele started the family business in 1889 and what JC Steele does today.

• Why it is important to remember and share your legacy and values to today’s family members, team members and customers.

• The importance of crafting a clear, compelling vision and getting stakeholder buy-in for your business success.

• What some of the challenges and benefits of working with siblings and cousins in a family business.

• What questions a next generation family member should ask before joining the family business.

• What the future looks like for JC Steele & Sons.

• And more…

To learn more about Mac Steele and JC Steele & Sons, visit their website at www.jcsteele.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business….We Know!

Episode 62: The Soul of Family Business; Creating and Preserving a Truly Healthy Family in Business with Tom Hubler, Hubler for Business Families

Our guest today is Tom Hubler. Tom began his family business consulting practice in 1980. As an experienced senior consultant, he has counseled more than 500 private family businesses over the course of his career. Tom helps families strengthen connections and eliminate barriers to healthy, productive family and business relationships

In this episode of Family Business Today, Tom will share:

• The importance of family values, love, and heritage in building a strong family business

• What is the Secret Sauce to use in your business?

• When a family business owner has difficulty letting go, how do their highly developed skills at doing the business impact the entrepreneur’s self-image?

• What some of the actions are that often derail family-owned business during the transition process

• What can a family business leader be doing now in planning for an eventual business transition?

• Why is it important to have a third-party unbiased advisor involved in the planning process?

• And more…

To learn more about Tom Hubler and Hubler for Business Families, visit www.tomhubler.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business Like Family Business….We Know!

Episode 61: Economic Outlook for 2023 – Greg Young, Senior Investment Strategist, Bernstein Wealth Management, Dallas, TX

Our guest today is Greg Young, Senior Investment Strategist, with Bernstein Private Wealth Management in Dallas, Texas. Greg provides thought leadership on market, investment and asset allocation issues and oversees Portfolio Manager communications to both internal and external constituencies.

In this episode of Family Business Today, Greg will share:

• Why investments have taken a hit in 2022.

• Will 2023 be a better year for the stock market?

• Inflation rates have continued to be the headlines. How bad will inflation get?

• Will higher interest rates be a short-term fix for inflation or a long-term solution?

• Is there any good news out there?

• And more…

To learn more about Bernstein Private Wealth Management, visit their website at www.bernstein.com

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant. (a $299 value)

Until next time, There’s No Business, Like Family Business…. We Know!

Episode 60: Buy-Sell Agreements, The Last Will & Testament for Your Business with Paul Hood

Our guest today is Paul Hood with Paul Hood Services located in Sylvania, Ohio. Paul is an author, a speaker, and an advisor to family owned businesses.

Paul obtained his undergraduate and law degrees from Louisiana State University and a Master’s degree in taxation from Georgetown University Law Center. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law and Ohio Northern University Pettit College of Law.

Paul is a highly sought-after speaker and consultant due to his innate ability to see through complexities and explain difficult and even boring subjects in understandable and entertaining language. He minces no words in doing so.

Paul has authored or co-authored nine books and over 500 professional articles on estate and tax planning and business valuation. Paul is the author of Buy-Sell Agreements, The Last Will & Testament for your Business as well Yours, Mine, & Ours, Estate Planning for People in Blended or Stepfamilies.

Both books can be purchased on Amazon Books or at his website paulhoodservices.com

In this episode of Family Business Today, Paul will:

• Expand on this importance of Buy-Sell Agreements

• Encourage family businesses to have a facilitator at business meetings

• Touch on how blended families can prepare for estate planning

• Share why kids (of all ages) should be involved in business meetings

• And more…

You can find out more about Paul Hood here. To learn more about his books, click here.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

Would you like the opportunity to be in a small group community of like-minded family business owners/leaders and get access to years of experience and wisdom from other family business executives just like you?

If you answered yes, I would like to invite you to consider joining a family business mastermind group. To learn more visit our website at www.thefamilybusinessmastermind.com.

Until next time, There’s No Business Like Family Business…..We Know!

Episode 59: Why do Family Businesses need a Board of Directors? with Tom Bakewell, author of Claiming Your Place at the Boardroom Table

Our guest today is Tom Bakewell. Tom is an Independent Director at First Bank, a family-owned 100+ year old bank serving family businesses in the Midwest and California. His consulting includes many private companies, small-cap public companies, top nonprofits, historic 4th and 5th generation family businesses, employee-owned, private equity, and start-ups across multiple industries in the US and internationally.

Tom is the author of Claiming Your Place at the Boardroom Table: The Essential Handbook for Excellence in Governance and Effective Directorship. It is #1 on Amazon in governance.

In this episode of Family Business Today, Tom will:

· Expand on one of his governance definitions – “Governance is experiential, and reality based”

· Share how bringing independent advisors in can offer wisdom, challenge the group, and set high standards

· Explain the difference between Family Council, Family Assembly, and a Board of Directors

· Share what to look for in a Board Member such as diverse backgrounds and people who have accomplished similar goals in their business lifecycle

· And more…

You can find out more about Tom Bakewell here. To learn more about his book, visit Claiming Your Place at the Boardroom Table.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

Would you like the opportunity to be in a small group community of like-minded family business owners/leaders and get access to years of experience and wisdom from other family business executives just like you?

If you answered yes, I would like to invite you to consider joining a family business mastermind group. To learn more visit our website at www.thefamilybusinessmastermind.com.

Until next time, There’s No Business Like Family Business…..We Know!