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-assessment tool that helps families evaluate their situation and identify areas for improvement....

Summary In this episode, Dave Goetz and Melissa Parks discuss the importance of capturing and sharing family stories. They highlight the reasons why families choose to tell their stories, such as passing on values and creating a family culture. The guests emphasize the need for families to identify their purpose and why before embarking on a storytelling project. They also discuss different types of family stories, including founder stories and multi-generational stories. The guests explore...

Summary In this episode, Bill Stranberg discusses the readiness of family businesses to hire non-family executives. He shares his own experience growing up in a family business and highlights the distinct challenges that families face in executive recruitment. Bill emphasizes the importance of addressing the readiness of both the family and the business before making a senior executive hire. He provides case studies to illustrate the potential risks and conflicts that can arise when these...

Summary In this two part episode, the guests discuss the considerations and communication strategies involved in a family business deciding to sell their business. They emphasize the importance of open and proactive communication within the family system, as well as with external shareholders and the C-suite. The guests also highlight the significance of early planning for the post-sale phase, including identifying purpose and impact beyond the business. They stress the need to address...

Summary In this two part episode, the guests discuss the considerations and communication strategies involved in a family business deciding to sell their business. They emphasize the importance of open and proactive communication within the family system, as well as with external shareholders and the C-suite. The guests also¶. They stress the need to address potential regrets and ensure a smooth transition to life after the sale. This conversation explores various aspects of transitioning...

Summary In this episode, Fiona Graham discusses the rebranding of Family Business UK and their focus on advocacy and policy. She highlights the key areas in their 2024 manifesto and the importance of long-term planning for family businesses. Fiona also shares insights from Family Business Week and previews the upcoming annual conference, which will focus on people and the challenges faced by family businesses. In this conversation, Russ and Fiona discuss the importance of family businesses...

The podcast is back! In this short trailer I give you an overview of upcoming episodes. There are six new episodes in this series. 1 - Family Business UK 2 - Selling the Family Business Pt.1 3 - Selling the Family Business Pt.2 4 - Are you ready to employ Non Family Execs? 5 - The importance of Storytelling 6 - Wealth of Wisdom I'd love to hear from you as to the topics that are impacting you and that you would like me to cover in future series. As ever if I can be of assistance,...

Regular listeners of the show will be familiar with all of my guests on this weeks show. I am joined by Jim Grubman, Denis Jaffe and Kristin Keffeler as they discuss their new book - Wealth 3.0 - The Future of Family Wealth Advising. In this episode we cover some of the key areas of focus within the book and what it means for families of wealth and in particular those that advise them. This episode is a special collaborative episode with The Ultra High Net Worth Institute in preparation...

THE FOUR NOBLE TRUTHS The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering. The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is...

THE FOUR NOBLE TRUTHS The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering. The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is...

THE FOUR NOBLE TRUTHS The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering. The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is...

THE FOUR NOBLE TRUTHS The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering. The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is...

THE FOUR NOBLE TRUTHS The First Noble Truth: be aware that life brings with it many forms of dissatisfaction, frustration, irritation, and many levels of suffering. The Second Noble Truth: recognise that these different types of suffering are produced by your mind, even if the apparent cause is external. The mind reacts negatively to life experiences that we didn’t want, and does the same when we don’t get things we were hoping for. The Buddha called these wants and dislikes “thirsts”. It is...

As with the word Noble above, the Eightfold Path uses a word that needs a little clarification. Each of the eight paths starts with the word Right. In this case it does not mean right as opposed to immoral, so it is not judgemental. Nor does it mean correct as opposed to wrong. It is best thought of as skilful or wise. Right Intentions or Thoughts: we need to be skilful and careful with our thoughts. If our automatic mind’s reactions rule our life we have a lot of suffering and poor...

The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings. Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person. The Fourth Noble Truth: to cultivate...

The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings. Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person. The Third Noble Truth: we can learn...

The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings. Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person. The Second Noble Truth: recognise...

The Four Noble Truths and the Eightfold Path are shorthand reminders of the Buddha’s core teachings on how to live a peaceful, fulfilling life. The formula was developed by his followers after his death as the Buddha left no written records of his teachings. Note that although still in everyday use when referring to this subject the term Noble does not refer to aristocracy or any sort of superiority. It simply means truths that make you are better person. In this episode we explore The First...

Welcome to The Mindful Family Business. This is an alternative look at family business governance. Through engaging and thoughtful conversations between your hosts, Russ Haworth and Martin Stepek, we are hoping to deliver to you something a little different. Utilising the expertise that Martin has on the teachings of Buddha and the combined expertise of Russ and Martin in the field of family business each podcast episode will leave you with meaningful thinking around how you own and operate...

So this is just a really quick show to let you know that I am launching a new show with my colleague and friend, Martin Stepek. The show is called The Mindful Family Business and will look at how you can apply the teachings of mindfulness to your family business. The new show is launching today and will feature on this feed for a limited time. After a certain time I will remove them from this feed but you will still be able to listen by subscribing wherever you get your podcasts. You can...

In this two part interview with Dennis Jaffe, Ken McCracken, Daniel Trimarchi and Stacy Allred we explore the topics covered in the white paper that they have co-authored. The collaboration is an example of the work being undertaken via the Ultra High Net Worth Institute (www.uhnwinstitute.org). The white paper covers three key elements of transition planning 1 - Rethink 2 - Rebalance 3 - Re-invent Through this discussion we explore each of these areas and gain insights from the guests on...

In this two part interview with Dennis Jaffe, Ken McCracken, Daniel Trimarchi and Stacy Allred we explore the topics covered in the white paper that they have co-authored. The collaboration is an example of the work being undertaken via the Ultra High Net Worth Institute (www.uhnwinstitute.org). The white paper covers three key elements of transition planning 1 - Rethink 2 - Rebalance 3 - Re-invent Through this discussion we explore each of these areas and gain insights from the guests on...

In this episode of the show I discuss three common myths that are often thrown at family businesses as rules or facts in order for them to act to avoid becoming a statistic themselves. The first myth is that around the number of family businesses making it to the third generation and what the often cited statistics are actually related to. We then look at the shirtsleeves to shirtsleeves myth, which has been around far longer than the statistics about succession, but is equally as...

In this episode I am joined by Fiona Graham from the Institute for Family Business as we discuss Family Business Week, some interesting research that will shortly be published and we debunk the myth that family businesses are old fashioned, “Mom and Pop Shops”. We also explore the contribution that family businesses make to the UK and global economies and discuss the topics that have been front of mind for family businesses on the recent IFB Tour! Useful Links You can find out more about the...