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Women at Work wherever you get your podcasts. Welcome to the HBR Ideacast from Harvard Business Review. I'm Kurt Nickish.

When you see family businesses and pop culture it's usually either the

lovable mom-and-pop shop or the super wealthy, super dysfunctional backstabbing family, like the kind profiled in

HBO's succession.

My father keeps a watchful eye over every inch of his whole empire and the notion that he would have allowed

millions of dollars in settlements and compensation to be paid without his

explicit approval is utterly fanciful. In reality, some of the world's most successful and longest running businesses are family businesses,

but it's true that adding family dynamics to a business enterprise presents all sorts of challenges along with those opportunities.

Today's guests study and advise family businesses and they say that ownership really matters more than people realize.

And they're here to talk about the strengths and pitfalls that come with

succeeding in a family business, whether you're an owner or just working for the family.

Josh Barron is a co-founder of Banyon Global Family Business Advisors,

and Rob Lochinhour is also a co-founder and the CEO. Together they wrote The Harvard

Business Handbook How to Build and Sustain a successful enduring enterprise.

Josh, thanks so much for coming on the show.

Thank you for having us, Kurt.

And Rob, thanks for speaking with us.

It's a great pleasure, Kurt. You know reading this book made me think about that term ownership very

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