Successful Generations

In this episode, Russ Haworth, host of The Family Business Podcast, and I talk about why and how he started his podcast. Russ shares some of his favorite family business stories and resources, and he tells us what he’s learning along the way. Get the complete show notes and links to resources at https://successfulgenerations.com/episode028/

Mindset, also referred to as buoyancy or resiliency, speaks to our ability to bounce back. This week’s guest, Dr. Nancy Jonker explains it as, “an invisible sense of how the universe is working for us and our ability to take responsibility for our lives.” Yep, settle in friends, the information in this episode has the potential to change your life. Get the complete show notes, including a list of resources mentioned in the episode at successfulgenerations.com  

In this episode, Rob Collier, President & CEO of the Council of Michigan Foundations shares nine trends he’s observed in philanthropy over his tenure. He also leaves us with a few recommendations for the future of philanthropy.  Complete shownotes, guest bio and resources from this episode are available at https://successfulgenerations.com/episode026/.

In this "Power 20" episode, I'm speaking to my friends who are NowGen leaders of family enterprise. As you think about succession planning and preparing the NextGen to fill your shoes, I urge you to be intentional when it comes to their leadership development. Not doing so can result in devastating consequences, not only for them but your family and your enterprise. Why risk it?  Make a plan, work the plan, guide your NextGen, and help them grow their capacity to be successful in their future role. Interested in learning from others? In this episode, I provide 10 ways to set your NextGen up for success in the family enterprise- many I learned from family business leaders such as yourself. Today's show notes are available at www.successfulgenerations.com/episode025  Enjoy!   

Blog Post: Pump It Up! Why Strength Training is Essential to the Success of Your Health Plan with Nick Klein Strength training and leadership development may seem like an unusual combination. But as a leader, all the things—career, family, community events, board service, volunteering, etc.—typically take priority over your health and wellness. Without intention and behavior change, the results can be detrimental. In place of a full podcast episode on this topic, this week I have a blog post for you with Master Personal Trainer Nick Klein of Body By Choice Training. This is the same great interview format that you get from the podcast but in a blog form. Nick and I dig into time and mindset management, goal setting, and how strength training relates to leadership.  Nick also shares some of his favorite resources near the bottom of the post. Blog Post: Pump It Up! Why Strength Training is Essential to the Success of Your Health Plan with Nick Klein Want more on wellness? Check out our previous Successful Gener

In this episode, Greg McCann of McCann & Associates and I dive into the family enterprise model, vertical leadership development, and leadership agility. Greg worked in his family’s business for a number of years before teaching at Stetson University and starting their Family Enterprise Center. In addition to teaching, Greg has worked as a family enterprise consultant for nearly two decades. In this podcast, Greg gives us a mini-course on the four leadership agilities, which include self-awareness, empathy, framing, and innovation. We discuss the six stages that leaders go through, which run along a continuum from efficient to effective. Greg also shared with us that leaders at the top of the scale (the most effective) tend to do three things daily: They have a reflective or meditative practice They exercise They have a creative practice outside of work. (Cool thing about Greg: His creative practice outside of work is gift giving!) Topics discussed in this episode: Meet Greg (1:14) Today’s global press

  Colleen Mitchell is the founder of Venture3Philanthropy, a global philanthropic advisory firm. In her role, Colleen helps clients across generations get started in philanthropy. Her work with families can include developing strategies for giving, identifying purposeful work based on their values, creating legacy plans, coaching, acting as a sounding board, and more. In this conversation, Colleen and I walk through her three-step process for getting started in philanthropy, which includes asking clients: 1. Why do you give? 2. What’s important to you? 3. What will success look like? We touch on different giving vehicles (i.e private foundation, trust, donor advised fund) and considerations for choosing the one that’s right for a donors situation and goals. We also discuss the different approaches donors of different generations take when it comes to philanthropy. Her experiences with next generation donors align with what we heard from Michael Moody in episode 006 of this podcast—Join the Philanthropic Revol

PLEASE NOTE: there is adult language in this episode. It's only 1-2 words, but if you are listening with little kids, you may want to use headphones.  Mitchell Kaneff is the 3rd generation Chairman and CEO of his family’s company, Arkay Packaging. If you’ve ever purchased lipstick, moisturizer, or fragrance in a box, the packaging was likely created by Arkay. They’ve been in business for more than 96 years. Today, they send high-end packaging all over the world from their three locations on the east coast. Mitchell assumed leadership of Arkay in 1996 when he was 30 years old. He gained notoriety 14 years later following the release of his book, Taking Over: Insider Tips from a Third Generation CEO. The book shares his personal story, including a letter he wrote to his father asking him leave the business, along with stories from other families who struggled through leadership transitions. The media headline at the time was Why I Fired My Father From the Family Business. In this episode, Mitchell and I talk

Happy 20th episode of the Successful Generations podcast! Our listeners are in for a treat this week. We wanted a dynamo guest for this milestone episode and Adrienne Penta did not disappoint. Adrienne is a Senior Vice President and Executive Director of the Brown Brothers Harriman Center for Women & Wealth (CW&W)—the brainchild that she built from the ground up. Rooted in data regarding women and wealth, and guided by her personal experience (which she shares during our interview), Adrienne and her team at the CW&W support women as they create and manage wealth. They also produce a quarterly magazine called Women & Wealth that explores the intersection of family, wealth, and values. In this episode Adrienne and I talk about estate planning, inheritance, preparing children for wealth, the importance of clear values, communication, and transparency, and so much more. Adrienne shares a ton of great resources, which are linked below. Topics discussed in this episode: Meet Adrienne (2:45) Adrienn

In the previous episode, Eric Allyn shared the history of his family’s business, Welch Allyn. He told us how his generation banded together to change the governance model of the business, effectively removing control from the third generation and eliminating a family member CEO. When we left off, Eric was telling us about the sale of Welch Allyn to Hill-Rom in 2015.   In this episode, Eric shares his family’s process of creating ‘Allyn family 2.0, life after the sale.’ We talk about how his family is learning the ins and outs of wealth management and the evolving role of their family office. As Eric said, family members understood ophthalmoscopes and defibrillators. Now they’re learning a new language involving investments, insurance and trusts. They’re also facing the challenges of raising children with tremendous liquidity.   Eric shares some lessons learned from his Welch Allyn experience and also does a great job answering my bonus questions. Enjoy!   Topics discussed in this episode:   Recap of part 1

  Eric Allyn grew up in a family with a legacy of entrepreneurship and innovation. His great-grandfather, William Noah Allyn and Francis A. Welch invented the ophthalmoscope in 1915. Countless other Welch Allyn medical devices have followed since then. Look around your physician’s office on your next visit and without a doubt you will see the Welch Allyn name.     As a member of the fourth generation of his family’s business, Eric dreamt of following in his granddad and dad’s footsteps to lead Welch Allyn. This changed around 2000, when Eric, his siblings and cousins began regularly meeting as a generation to address tensions between their parents that were threatening the business. The result of their work was a radically new governance structure that eliminated family dynamics from the business altogether. It removed power from the third generation and put a new board in charge of hiring a CEO. It was a personal sacrifice for Eric, but ultimately it was the best decision for Welch Allyn.   In this episode,

  Peer groups, sometimes referred to as mastermind groups, can be incredibly helpful and effective at moving you along the path to achieving goals. Personally, I’ve been involved in peer groups for more than 12 years. In my former role as an executive director of a family business center, I put together 18 different peer groups for NextGen and NowGen business leaders. Today, I run a group on goal setting, and soon I’m launching the first Successful Generations’ peer group focused on wellness and leadership. In summary, this is a tool I know and believe in.   I love peer groups because they are like having a trusted sounding board available to support, challenge, advise and cheer you on. And in return, you do the same for the other group members. The group’s success is based on each member’s success, so time and participation are required.   In this solo-episode, I do a deep dive into peer groups—giving you some definitions, sharing my experiences, and explaining what they are and what they’re not. I leave you

For the past couple of years, I’ve been doing a lot of personal work, self-reflection, and goal-setting. As I’ve mentioned previously, I’m a big fan of Michael Hyatt, and one of the most powerful exercises that I’ve done with him is around limiting beliefs and liberating truths.   I like this definition of limiting beliefs from changingminds.org: “Limiting beliefs are those which constrain us in some way. Just by believing them, we do not think, do or say the things that they inhibit. And in doing so we impoverish our lives.” I also like the visual provided by this quote from Rosamund Stone Zander and Benjamin Zander, authors of The Art of Possibility: “Every story you tell yourself is based on a network of assumptions. Draw a different frame around the same set of circumstances and new pathways come into view.” From my perspective, identifying and understanding your limiting beliefs is absolutely fundamental to achieving your goals. If you have a goal that seems out of reach—no matter how big or small—ma

After selling his publishing company, my guest, Clint Greenleaf recalls being on flight to Hawaii with his wife and two young daughters. They were sitting in first class and Clint peaked behind his seat to check on the girls. That’s when he had a revelation:   “I thought, I spent a lot of time in the back of the plane... and if I’m not careful, my kids are going to miss the important lessons it took to get here.”   With that, Clint set out to learn all he could about teaching kids financial literacy and the value of money. From his research, Clint developed practical strategies—a set of tools in the toolbag—that he and his wife use with their children. We talk about what they do and more in this episode.       Topics discussed in this episode:   Meet Clint (1:40) Build a network of knowledge (5:27) Questions about money for you and your spouse (7:02) What led to writing the books? (9:37) Give, Save, Spend (12:20) Using a family business for training (15:58) Allowance: Clint’s perspective (21:22) Making finan

In one way or another, we are all on a health and wellness journey. My guests in this episode are dedicated to helping people on this journey through the practice of yoga. Ashley Yost and Mali Jane are co-owners of AM Yoga. In addition to classes in their studio, which is based in Grand Rapids, Michigan, they also offer virtual and corporate programs to bring yoga to people where they are.  This episode is perfect for you if you are looking to grow awareness, reduce stress, and be more purposeful and present in your daily life.  As a yoga novice, I ask lots of questions to better understand the practice and how it relates to mind, body and spirit. We also try out through a breathing exercise and end with a guided meditation. Fair warning: you may find yourself in an amazing state of relaxation upon listening to this episode. Enjoy! Topics discussed in this episode: Meet Ashley and Mali (3:15) What does daily practice mean? (3:57) Defining stress (4:53) How to increase your energy (5:58) What’s the relationsh

Paige Cornetet is a fourth generation family business owner and she’s involved in her family’s council. She’s also an entrepreneur who runs her own business, Millennial Guru. In this episode, Paige shares what it was like growing up in the Cornetet household with parents who were very purposeful in raising business-minded children. We cover everything from family values, to allowance, athletics, education and social graces. Paige shares so many examples of activities her parents used to share their financial, human and intellectual capital with their children. If you are raising children in a family business and you want to groom them to be amazing business owners, this episode is for you!      A handout to accompany this episode is available in the resources below. Topics discussed in this episode: Meet Paige (2:11) About the 90+ year old Cornetet family business (3:25) Learning Cornetet family sayings, laws and values (4:32) Earn, save, spend and the Cornetet National Bank (10:28) Saturdays with Dad (15:21

Susan Crites Price is a Washington, DC-based author and speaker. Her most recent book, which she co-wrote with her daughter, Julianna Price, is titled Generous Genes: Raising Caring Children in a Digital Age.   Susan worked as a freelance writer when her daughter was young. That’s when she was hired by the Council of Foundations to write a book about raising generous children. The book, The Giving Family, has been a perennial best seller for the Council. Following its publication, Susan joined the Council and served as the head of its Family Foundations Department and later moved to the National Center for Family Philanthropy.     In this episode, Susan and I discuss when to start engaging little ones in giving, family volunteering, role modeling, helping children find their philanthropic voice and much more!      Topics discussed in this episode:   Meet Susan (1:30) Why Generous Genes: Raising Caring Children in a Digital Age? (4:48) When do you start this work with your kids? (7:26) What is a generosity co

In this episode, my guest Daniel Van Der Vliet and I dig into family business from the family business center/academic perspective. Dan is currently The John and Dyan Smith Executive Director of Family Business, part of the Smith Family Business Initiative, at Cornell University. Dan tells us about his role and the family business initiative at Cornell, which is fairly unique. There are less than 100 programs in North America focused on family business—especially staggering considering there are close to 4,000 programs on entrepreneurship.   Together, we discuss family business centers and their role as a resource for family businesses; Dan gives us his version of OMFG (ownership, management, governance and family); and we go deep on the link between family business and entrepreneurship.   Topics discussed in this episode:   Meet Dan  (1:52) What is a family business center? (3:10) The importance of peer-to-peer learning (4:48) Dann’s version of OMFG (7:38) Tools for good governance (13:20) Family business a

As a third generation board member of my family’s foundation, philanthropy plays a big role in my life. I was first introduced to our foundation when I was 15. Today, nearly all of my siblings and cousins remain involved in the family foundation—pretty good, especially considering we are spread out geographically and raising our own families. It’s not always easy, but I think we agree that it’s an honor to carry on my grandparents legacy and work together to do good in the communities we serve.   People always ask how our family got us involved in philanthropy. So, this episode is dedicated to answering that question. I provide 10 things my family did well (because who doesn’t love a top 10 list) and I also share some of our lessons learned.  From my family to yours, enjoy!     What Topics discussed in this episode:   Background, how we became involved and why it can be a challenge? (1:49) #1 They asked (4:04) #2 They met us where we were (5:57) #3 They created a junior board (7:16) #4 They took us on site v

After losing her father and discovering that the causes of his death could have been prevented, Cynthia Damaskos made dramatic changes to her own life. She said goodbye to an unhealthy lifestyle and her job working in high-pressure tech sales. She threw herself into learning about health and wellness and became a Certified Holistic Health Coach. “I realized I needed to put my oxygen mask on first and then go out to help other people,” said Cynthia. In this episode, she shares her story and provides value bomb after value bomb to help listeners begin their own health journey.     Topics discussed in this episode:   Meet Cynthia (2:20) My health journey (5:13) Does health improvement start with a crisis? (6:05) What is a certified health coach? (7:30) Fat vs. sugar (10:34) Who needs a health coach? (13:47) Current trends (14:50) Stress is okay (16:05) Breathing techniques to combat stress (17:56) Feel off? Try this (21:54) When to involve a professional and how to find the right person for you (24:48) When to