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!

Episode 58: Combining Irish and German Approaches to Education of Next Generation Family Business Leaders with Dr. Susan Walsh

Our guest today is Dr. Susan Walsh. Susan started her career in banking and worked in retail, corporate and private banks for 11 years in both the North and South of Ireland. She then moved into academia and held a fellowship at the Dublin Institute of Technology. After moving to Munich in 2004, Susan founded Globe Business College and has spent the last decade and a half perfecting a unique education model that centers on one-on-one, customized business education for the sons and daughters of family company owners. Today, she divides her between the College, speaking events to promote the need for relationship-based education in a digitalized society and working at a strategic level in both Ireland and Europe on the future of education.

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

• How the idea for Globe Business College began with a desire to combine the logical processes of German businesses with the dynamic skills of Irish businesses

• How the college has evolved and provides customized learning on a one-to-one level as the students and world change over time

• That a key to the longevity of Germany family businesses, also known as the Mittelstand, is that they are often specialists in one product

• How early graduates of GBC are seeking continued relationships and character development outside of a traditional degree as they face challenges in their family businesses

• How a challenge for early graduates of GBC is now being the bridge between senior management and the new generation

• And more…

You can find out more about Dr. Susan Walsh at https://dr-susanwalsh.com/.  To learn more about Globe Business College visit https://globe-college.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 57: How a Virginia Peanut Changed an Industry and Created a Family Legacy, Hubbard Peanut Company with Marshall Rabil

Our guest today is Marshall Rabil. Marshall serves as the Sales and Marketing Director of Virginia-based and family-owned Hubbard Peanut Company, which his grandmother and grandfather founded nearly 70 years ago. Named one of Inside Business’ 40 Under 40 in 2019, Rabil helps lead the company with a big heart for his community and his multifaceted experience ranging from sustainable development studies to leading student groups internationally.

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

• How the specialty peanut company Hubs got its start with Marshall’s grandmother Dot, her unique recipe, and a unique Virginia peanut

• The steps Hubs has taken to expand from their homegrown roots while staying connected to the legacy and the community of Sedley, Virginia

• About his background in international teaching, community development projects, specialty grocery, sustainability, and service

• That an important part of a succession plan is clear communication of goals, of timelines, and of how the baton will be passed to the next generation

• The opportunities Hubs has for the business and the people of the business to give back to their community

• And more…

To learn more about Marshall Rabil and the Hubbard Peanut Company, visit https://www.hubspeanuts.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 56: What’s in Your Cup? A Cup of Coffee/Tea and a Conversation with Bill Smith, Royal Cup Coffee & Tea and Double Iron Consulting

Our guest today is Bill Smith. Bill Smith has been involved with his family business for over 30 years. Royal Cup Coffee & Tea has been in his family since his grandfather bought the company in 1950.  In 2014, Bill was promoted to the President and CEO role, following his uncle and moving the guidance of the business to him as a third-generation leader. Bill launched Double Iron Consulting in 2021 to serve and help small to medium-sized businesses and family business owners and executives clarify and achieve their goals.  He understands what it’s like to be in their position and knows the care that goes into a business, especially when it’s a family business.

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

• His grandfather’s passion for buying, owning, and running a business, which started the Smith family legacy in Royal Cup Coffee & Tea

• How his 25 years in the family business began with learning how to roast coffee at 16 and lead to his work in the company’s national infrastructure

• The value of providing immersion opportunities to the next generation when it comes to learning and developing passion for the family business

• How important it is for a family business to respect both the family aspect and the business aspect when growing the company

• How family business owners need to give themselves the time to successfully transition their business to avoid reactive or rushed transition

• And more…

To learn more about Bill and his business Double Iron Consulting, visit www.doubleironconsulting.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 55: How to Be a Leader in the Boardroom and the Living Room with Deena Chochinov

Our guest today is Deena Chochinov. Over the last 30 years, Deena has worked as a therapist, management consultant and family enterprise advisor with people and organizations seeking meaningful change. Her rare skill set enables her to strengthen family businesses on a strategic level, while ensuring that healthy interpersonal dynamics support a firm’s continuity and prosperity. As a family facilitator, Deena works with multi-generational families who seek the tools and techniques to make smart decisions, manage conflict effectively and develop strong, lasting relationships. She is based in Vancouver, Canada.

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

• How her parents’ family business and her experience as a therapist and management consultant led her to family business enterprise consulting

• How difficult it is to move family businesses forward without proactivity, planning, and awareness

• How family business members need to know “what hat they’re wearing when” as they manage their home and business balance

• How to have success in the family business and harmony at home while being the same person

• A story of three retirement-reluctant brothers who successfully transitioned their family business after forty years as owners

• And more…

You can find Deena Chochinov’s book, HomeWork, at Amazon.com, and to learn more about Deena and her business, visit https://www.deenachochinov.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 54: Living Your Vision Now with Larry Olsen of Aperneo

Our guest today is Larry Olsen. Larry Olsen is CEO and creator of Aperneo and is an international speaker, author, podcast host, and executive coach. He has years of experience working with Fortune 50 companies, championship teams, and entrepreneurs on establishing their vision and sense of purpose. Larry is passionate about providing individuals and teams quick, actionable guidance on how to break ingrained, ineffective habits that they did not even know were holding them back.

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

• How our success in business and in life is tied to learning how to change the way we think

• That whatever is on our on minds is all we see

• That one hundred percent of our performance is dictated by our attitude

• How most of use are going into life looking backward

• What it means to live your vision now

• And more…

You can find out more about Larry, his firm, his book Get a Vision and Live It, and The Mindset Playbook podcast by visiting his website at https://www.larryolsenlive.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 53: Tailoring the Family Business Legacy with John and Daniel Stewart of Stewart Leadership

John and Daniel Stewart joins our host Greg Lewis on this week’s edition of Family Business Today. John is the founder and CEO of Stewart Leadership. Stewart Leadership is recognized internationally for its feedback assessments, training tools, and solid, results-focused coaching services designed to guide teams and individuals to adapt, grow, and reach new levels of performance. John lives with his wife, Debra, near Portland, Oregon and has four sons and sixteen grandchildren.

Daniel is a sought-after talent management and leadership development consultant and coach, and he leads Stewart Leadership’s extensive consulting practice, business development, and international partnerships. Daniel lives near Milwaukee, WI with his wife, Katie, and their 4 children.

In this episode of Family Business Today, John and Daniel will share:

• How Daniel and his brother came to grow the business John founded

• That the key to family business success is to recognize the strengths of every individual and capitalize on them

• That effective leadership is directly related to the strength or weakness of relationships

• That the most important element in transitioning a family business to the next generation is passion for the business

• How to allow the next generation space to tailor the family business legacy

• And more…

You can find out more about John, Daniel, their firm, and their many publications, webinars, and resources by visiting their website at www.stewartleadership.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 46: Facing the Unexpected and Keeping on Trucking with Crissy Wieck of Western Express, Inc.

Crissy Wieck was born and raised in Nashville and graduated from The Harpeth Hall School.  After working at Dell for 12 years, Crissy joined her family business after the death of her father’s business partner.  Crissy has spent 10 years at Western Express and is currently the Chief Sales Officer and a minority owner.  In this capacity, Crissy is responsible for Sales and Operations (~$850M) and is a member of the Executive Team.  Crissy is married to Matt Wiltshire and has three daughters, a son and two stepsons.

Crissy left Nashville to play soccer at Maryville College. After graduating in May of 2000, she headed to Dell.  The company opened an office in Nashville the month before she graduated and made a commitment to the city to grow local talent organically.  By 2009, Crissy was the General Manager and Global Site Lead for Dell Nashville and the Regional Sales Director for the East Coast.  Three buildings, 2500 employees and a $5B footprint in Nashville allowed for her to be the CEO of the largest non-headquarter site for Dell.  Her direct P&L represented $2B of the $5B in Nashville.  This proved to be a perfect training ground for the unexpected career change in 2012 when she joined her family business.      

Western Express is a top ten Truckload Carrier in the country with over 3,000 trucks running the US and Mexico.  The company has been in business since 1991 and was started by Crissy’s grandfather (minority owner) and another family, with only 5 trucks.  Her father joined the company in 1996, when they had 36 trucks, and across the ten years that followed, grew the company to 3000 trucks.  She and her brother joined Western Express upon the death of their father’s business partner to help run the business and they are both minority owners in the business, while their father is the majority owner.  Today the company has 4,500 drivers and ~750 non driving associates across 6 locations in the US.

Crissy has been on several Boards including; The Adventure Science Center, Nashville Public Television, The Maryville College Alumni Board, The Bank of Nashville, The Banner Advisory Board and The Harpeth Hall School.

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

• How two neighbors talking over a fence in 1991 grew into a multi-generational company with 3000 trucks in 2006

• How the vision for the company grew as the company grew, and how it has changed as the economy has changed around it

• What it means to have “fun” as a business’s core value

• How the company has adapted and rebuilt through a tornado in 2020 and COVID in 2021

• How her experiences at Dell helped her learn about how to run an entire business

• And more…

To learn more about Western Express, Inc., visit http://www.westernexp.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 45: A Company That Helped to Mechanize the Mid-South with the Morgan Family of John Bouchard & Sons, Co.

For over a century, the John Bouchard & Sons Co. (JBS) tradition of innovation and excellence has helped create and maintain the systems that keep the Mid-South running. Beginning as a Nashville machine shop in 1900, the company was incorporated in 1913. Today it is a fifth-generation, family-owned, diversified company serving modern industry through four fully-integrated divisions: Industrial Sales, Machine Services, Construction and Foundry. Their home office/shop is in its original Nashville location.

After working in areas of journalism, architectural restoration, home education & serving numerous non-profit Boards, Lisa Bouchard Morgan joined the JBS Board in 2011. Now the Chairman & CEO, Lisa oversees and nurtures the fifth generation of her family’s business. Protecting the rooted history and rich values, while fanning new sparks of innovation and change, are the balances to her vision. In its 121st year, Lisa led the process for JBS to become a Certified Woman Business Enterprise (WBE), making them even more of an asset to their customers and partnering contractors. For JBS, the GOD-given value of each worker, and the value of that work to them, are foundational priorities as they keep the hardworking infrastructure of the Mid-South running.

After working for Exxon’s offshore district operations, William Morgan joined JBS in 1986. Mentored by his father-in-law, he tackled challenges in various departments of the Company and developed as the leader of operations, ultimately serving as President, from 2001 to the present.  His keen engineering sense keeps the navigation of the entire Company on a solid, steady course. He is a graduate of the Vanderbilt University School of Engineering and holds an MBA from Vanderbilt’s Owen Business School.

The eldest child of Lisa & William, Carver Morgan joined JBS in 2014, after spending 3 years in the corporate world. He was mentored by JBS tradesmen and technicians during a 3.5 year apprenticeship throughout the diversified areas of the company. Since, he has served as Company Historian, as interim Safety Director and in various project management roles. He currently co-leads the JBS Machine Shop. He holds a BS from the Vanderbilt University School of Engineering and an MBA from Lipscomb University.

In this episode of Family Business Today, Lisa, William, and Carver will share:

• The longstanding history of John Bouchard & Sons Co., taking the company into its fifth generation

• How John E. Bouchard III led the company with his actions and his faith

• How the common thread of infrastructure can be traced from the company’s very beginnings, in Nashville, TN and across the Mid-South

• Lisa’s passion for the business she inherited from her father and the steps she has taken to provide for her associates in her role as CEO

• How the pandemic strengthened the family business’s resolve to continue to “help companies do what they do”

• And more…

To learn more about John Bouchard & Sons, Co., visit https://jbouchard.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 44: Arranged Careers: When the Family Business Isn’t Always the Right Fit for You with Dr. Michael Klein

Dr. Michael Klein has over 20 years of experience as an advisor to family business owners and next generations, as an assessment specialist (including assessments of job fit, personality, emotional intelligence, and values and motivators), he also speaks and leads workshops for family businesses. He uses his background in psychology to counsel and assist family businesses.

Michael has worked both internally and externally in Fortune 500 companies, including positions in organizational development and human resources.  He has experience in healthcare, financial services, publishing, entertainment, pharmaceuticals, construction, and private equity and other industries.

He is the author of Trapped in the Family Business: A Practical Guide, which is in its second edition, and is a recipient of the 2018 Schultz Award for Outstanding Family Business Publication.

Michael is a graduate of Haverford College and holds a doctorate in psychology from the Graduate School of Applied and Professional Psychology, Rutgers. He has taught at the Commonwealth Honors College and Isenberg School of Business at the University of Massachusetts at Amherst and has served as a four-time judge at the University of Vermont’s Family Enterprise Case Competition (FECC).

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

• How common it is for family members of different generations to feel trapped in their family business

• What it means to be trapped in your family business and how people become trapped

• That his book is not only about “escaping” from the family business but about how to have difficult conversations while maintaining relationships

• How parents and children can balance their needs with the needs of the family business

• The importance of having the tough conversations about your place in the family business even when the issues seem small

• And more…

To learn more about Michael’s book and his work with family businesses, visit www.trappedinthefamilybusiness.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 43: Changing with the Times Has Resulted in a Century-Old Family Business with Ben Grossman of Grossman Marketing Group

Ben Grossman, along with his brother, David, are the fourth generation of family leadership and have been leading Grossman Marketing Group for ten years. Their family business was founded as Massachusetts Envelope Company in 1910 by Maxwell Grossman, whose lifelong dream was to own his own business. Now, 111 years since its founding, the company is a full-service resource helping clients with a broad range of traditional and digital marketing needs.

Ben Grossman holds a BA from Princeton University and an MBA from Columbia Business School. Prior to Columbia, Ben worked as a strategy consultant to Fortune 500 clients, as well as started and sold a sportswear and marketing firm.

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

• The story of how Grossman Marketing Group has evolved over time and throughout generations

• How observation and continuous learning paired with a mind for application can help you in your family business

• How important his time outside the family business gaining experience, both in the consulting world and in the start-up world, has been in helping him lead his family business

• That a large part of his family business’s longevity is to not take anything for granted

• How he and his brother started their tenure as leaders of Grossman Marketing Group by asking people’s input into the company using the HR stop-start-continue method

• And more…

To learn more about Grossman Marketing Group, visit www.grossmanmarketing.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 40: Relying on Technology, Your Team, and New Business Development Opportunities in the New Norm with Laurie Guzman of The Inside Story, LLC

Your host, Greg Lewis, talks to Laurie Guzman. Laurie is the founder and president of The Inside Story, LLC, a virtual assistance organization located in Nashville, TN. Laurie has established herself as an Opportunity Broker, a Master of Connecting the Right People and the Right Business to the Right Opportunity. Laurie is also the mother of two amazing sons, who inspired her to launch her business that encourages flexibility and life balance.

In this episode of Family Business Today Laurie Guzman will share:

• How having and recovering from COVID made her appreciate having the right people in her business and the importance of relying on your team and your processes

• How business owners need to rely on the power of calendar management instead of depending on their own mind and memory, especially during times of growth

• The critical role virtual assistants can play in the technological and the business development sides of the business as we experience our “new norms”

• How her passion for connecting people has not only led to the success of her own business but the success of those she works with locally, nationally, and globally

• How businesses can use the circumstances of 2020 to refine their vision and lean more on the support of other business leaders

• And much more…

To learn more about Laurie Guzman and her business, The Inside Story, LLC, visit their website at https://www.theinsidestoryllc.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!