Arete Coach Podcast 1018 Managing Family-Owned Business Leadership Transitions

Arete Coach: The Art & Science of Executive Coaching

Arete Coach Podcast

Education, Entrepreneurship, How To, Management, Business

5.0 • 1.2K Ratings

🗓️ 8 March 2021

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is episode 1018 of the Arete Coach Podcast with host Severin Sorensen, where for this episode we focus on "managing family-owned leadership transitions." In this special edition, we explore the unique nature of family-owned businesses, and how family-owned businesses in the past have successfully transferred leadership and ownership from one generation to the next. We also cross-walk through a successful executive search for a hired-gun, professional manager, who will act as the new interim CEO for a family-owned business, where the new CEO must navigate the business operations while managing the hopes, dreams, and realities of the family-owned business, with an aim of preparing the next generation family members for leadership.

The Arete Coach Podcast seeks to explore the art and science of executive coaching. You can find out more about this podcast at aretecoach.io.

This episode was produced on March 4, 2021.

Transcript

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0:00.0	This session was recorded on the 3rd of March, 2021.
0:06.4	You are listening to Severin Sonson and Executive Coach and Curator of the RT Coach podcast,
0:12.0	where we explore excellence and the art and science of executive coaching.
0:16.2	Today, I interrupt our regularly scheduled executive coach interview series to bring you
0:21.4	a special episode that explores a key executive coaching topic, managing family-owned business
0:28.9	leadership transitions.
0:31.5	In this episode, we will explore the critical topics that one must consider in managing family-owned
0:36.4	business leadership transitions.
0:38.6	We will explore the entrepreneurial journey of some small businesses that went big, and
0:43.6	we will crosswalk through a successful executive search for a higher-gun professional manager
0:49.3	who will act as the CEO guardian for a family-owned business, where the new CEO must navigate
0:56.3	the business operations while managing the hopes, dreams, and realities of the family-owned
1:01.4	business.
1:03.5	Is it any wonder that I thought focusing on family-owned business leadership transitions
1:08.0	would be a great addition to the RT Coach podcast, as we seek to explore excellence in
1:13.0	the art and science of executive coaching today.
1:16.9	First and definitions.
1:18.7	From ink.com, we find this definition of family-owned businesses.
1:22.8	Family-owned business may be defined as any business in which two or more family members
1:28.2	are involved, and the majority of ownership or control lies within a family.
1:33.6	Family-owned businesses may be the oldest form of a business organization.
1:38.8	When considering small businesses only, meaning companies between two to 99 employees,
	...

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