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 June 2012

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Master Class

Randel Carlock

The Parallel Planning Process

Randel Carlock

In Section One of this Family Business Wiki Master Class teleconference,
Randel Carlock describes the intrinsic challenge for family businesses (families are about caring and businesses are about performance) and he shares the Parallel Planning Process as an important approach in achieving family harmony and business success.  (Click here to access recordings of this Master Class as well as the pre-reads and presentation slides used by Randel during the Master Class.)

FB Wiki TV

Dennis Jaffe

Empowering Transformational Leaders in the Next Generation

Dennis Jaffe 

How can a next generation member of a family enterprise avoid "waiting around" until they are annointed as a leader?

In this video interview Dennis Jaffe describes two steps which a "next gen" can take to become a leader.

The first step is to focus on where their passion is, and develop credibility in this area.

The second step is to respectfully open discussions with the senior generation and the "next generation" regarding the future of the family and the business.  By bringing an important conversation to the family, based on real world credibility, the "next gen" has empowered themselves and demonstrated leadership.  (Click here to see the video.)

Greetings!

Welcome to this "all-star edition" of the Family Business Wiki newsletter.  In video interviews and recorded Master Class teleconferences, our distinguished contributors share their knowledge regarding a wide variety of critical issues for the family business:  

  • Strategic planning for the family and the business (Randel Carlock)
  • Capital and liquidity solutions (Fran�ois de Visscher)
  • Communication within the family business (Peter Leach)
  • Developing the next generation (Dennis Jaffe)
  • Relationship between the family and the board (Stephanie Brun de Pontet)
  • Effective collaboration between different generations (Paul and David Karofsky).

We hope that you find this expertise to be of value -- and that you enjoy the videos and recordings.

FBWiki TV:  Peter Leach 

Truth, Respect and Trust in the Context of a Family Business

  

Peter LeachIn this video interview, Peter Leach describes the importance of "telling the truth" with respect to one's observations and intentions.

Yes, one who "tells the truth" can seem blunt, and can make others uncomfortable -- but telling the truth is really a matter of respect.  In some families it is seen as disrespectful to tell the truth, especially telling the truth to elders, but to conceal the truth is actually being disrespectful.  This issue of hiding the truth and speaking the truth is at the heart of the family business dilemma. (Click here to see the video).
Master Class:  Fran�ois de Visscher 

Capital and Liquidity Solutions for a Family Business 

  

Francois de VisscherIn today's global capital markets, family businesses have many internal and external capital and liquidity solutions available to them.

 

Section Two of this Family Business Wiki Master Class teleconference with Francois de Visscher reviews these options and how they relate to the patient capital in the family. 

 

Depending on the valuation of the business, and the needs for control and liquidity, there are a variety of internal solutions, debt solutions, equity solutions, and strategic solutions.  Before seeking outside capital, a family business should: prepare a detailed business plan; have a clear idea regarding short-term and long-term liquidity needs of shareholders; and develop strong family governance structures.  (Click here to access recordings of this Master Class.)  

Master Class:  Stephanie Brun de Pontet 

Preparing Family Members for the Transition to a More Formal Board of Directors

  

Stephanie Brun de PontetDeveloping a more formal board of directors -- and including non-family members on the board -- can be a challenging transition for the family.  In this recorded Master Class teleconference, Stephanie Brun de Pontet describes some steps which can be taken to assure the success of this transition.

The first step is to make sure that all family members are "on-board" regarding the development of a more formal board of directors.  Family members can be coached regarding how to effectively interact with the board, and communication structures can be established to enhance the relationship between the board and the family.  (Click here to access recordings of this Master Class.) 
FBWiki TV:  Paul and David Karofsky 

The Senior Generation and Next Generation Working Together Effectively 

    

Paul and David KarofskyWhat helps to bridge the generational divide in a family business?

In this video interview, Paul Karofsky and David Karofsky describe what has helped them to work together effectively -- and what steps can help other parents and their adult children to succeed.

For example, the different generations may have differing expectations regarding "standard" working hours versus a more flexible work schedule.  Or there may be differences in comfort levels with new digital technology -- or different ideas regarding marketing.  Taking proactive steps to communicate, be open-minded, teach, and demonstrate respect can create a foundation for the generations working together effectively.  (Click here to see the video.)
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