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Last Update: Saturday June 12, 2021

Real Revolutionaries Start A Business

Get some help to plan to exit

3:43 | Play Now |  Bonnie Brown Hartley, PhD, a family business counselor, helped Judi Jacobsen, the founder of Madison Park Greetings (Seattle), make the transition to the next generation.

DR. BONNIE BROWN HARTLEY (Consultant): I work in what I call the family business Bermuda Triangle.

That means those issues where families who are in business together can really get stuck. And those, in my experience, are power, money and love. It is probably the most complex business structure that you can imagine because you've got the family that doesn't necessarily have the same needs (and) the same objectives.

You've got the management of the business, and then you've got the ownership of the business. So, you've got basically three different systems, all of them overlapping. It depends on the family and it depends on the business whether that overlap is a healthy one or not. And right in the middle of that overlap, you've got those issues of power and money and love.

Does money mean love? If a family business owner leaves his or her business to only one of the kids, does that mean that that kid was loved more than the others? If some kids don't choose to go into the business, does that mean they don't love their folks as much as the kids who choose to go into the business?

Have you logged in yet? There are over 140 videos from family businesses. Log in then click here.

Pass Leadership On

4:11 | Play Now | Lowell Miles started his firm and now his daughter Lori is pointedly working to grow  it.

Enroll The Next Generation In The School of Hard Knocks

1:51 | Play Now | The Navarro family is doing a lot of things right with the next generation.

Hire Family

3:36 | Play Now | Irene and Lupe Fraga's three children have worked their way up in the organization.  Today Alisa Fraga does human resources.

Reflect on why family business is so important:
In the USA, 80% to 90% of all businesses are considered to be family owned. Only 30% will survive to the 2nd generation, 12% to the 3rd and just 3% to the 4th. The reason it is so important that family-owned companies succeed is that they create 78% of all jobs in this country.

80% to 90% of businesses are considered to be family owned. Less than 30% survive to the 2nd generation,12% to the 3rd and just 3% to the 4th. The reason it is so important that family-owned companies succeed is they create 78% of all jobs in the USA.

There are over 140 videos from family businesses.  Click here for more.

Step Aside For New Leadership

1:27 | Play Now | Host Hattie Bryant says that Alvin Murstein is brilliant to step aside but stay.

Do What You Know

3:00 | Play Now | The Souto Brothers were smart to learn about the coffee business from their father.  The  knowledge and experience they gained even as children helped them achieve success.

Buy A Business And Right Wrong

5:06 | Play Now | The Calise Brothers took the business that their grandfather started and rescued it from the bad management it had endured when their father and uncle ran the company. They discovered that fixing an old company can be harder than starting a new one.  This is the oldest brother, Michael.

Pass Ownership Formally

1:51 | Play Now | Mo wanted to officially make Cindy an owner. To do that, she changed her legal form of business from a sole proprietorship to a corporation. Cindy started buying stock in the company in 1975 through payroll deductions.

Manage Your Children With Your Head Not Your Heart

1:30 | Play Now | Tere's son, Joe, balances the needs of the business with client expectations as he leads Zubi's account management function.

Be The Person Others Will Follow

4:39 | Play Now | Darlene grew up in the school of hard knocks.  She paid attention and learned how to win and keep customers with a great attitude and fabulous service.

Start Your Children at the Bottom

4:13 | Play Now | The owner's daughter, Gabrielle, started at Mo's as a dishwasher when she was 12 years old.

Plan to Let Go

4:14 | Play Now | Founder Marty Edelston has turned the leadership of the company over to a young team.

Develop New Products to Develop New Leaders

3:24 | Play Now | David LanCarte developed the salsa business so the Joe T. Garcia brand is now on grocery shelves.  Now that is near perfect timing! Today the US consumes  more salsa than ketchup!

Be Tough on the Next Generation

3:07 | Play Now | In the US, 80% to 90% of businesses are considered to be family owned. Only 30% will survive to the 2nd generation, 12% to the 3rd and just 3% to the 4th.

Listen to the Next Generation

4:13 | Play Now | Joe Glenn helped to reinvent the company his grandfather started and now it is positioned for growth in the old-fashioned business of metal spinning.

These stories read like this: "I can build a business around my own original ideas, become prosperous and generous while being ethical and gracious."

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