We have partnered with The Family Business Podcast: providing family businesses with tips and guidance on key family business questions. The Family Business Podcast is hosted by Russ Haworth (The Family Business Consultancy).
An update from Russ Haworth at the Family Business Podcast on what's coming next in 2020.
Episode 1 - What is Governance?
What is family business governance? Why is it useful? What are some of the common barriers to putting governance in place? Where can you start from?
EPISODE 2 - WHAT IS A FAMILY CHARTER?
The Family Charter is the cornerstone or foundation document of a family governance system. It is the bedrock on which everything else is built.
It is also known as a Family Constitution or agreement. It is the main document that the family use to outline their values and vision for the family business.
Whilst rare they are gaining recognition and being adopted by many families. In this episode Russ explores why they are useful and how to get started with your own.
Episode 3 - The Family Council
Family Councils create a bridge between the business family and the family business board. In this episode Russ explains what a Family Council is, what roles and responsibilities it has and how you would typically elect its members.
Russ also covers the important role of the Chair, the skills they are likely to need and the way in which the Family Council interacts with the business and the family.
EPISODE 4 - what is a family assembly?
Continuing our look at Family Governance, in this episode Russ discusses the Family Assembly, or retreat/meeting: what they are, who attends and what subjects are covered, along with some hints and tips as to how to get your own family meetings up and running.
We also look at the interaction between a family assembly, a family council and the family charter and provide a reminder of the key benefits of family governance.
EPISODE 5 - the family business board
As a family business grows, the need for the right forums to be in place to discuss the important strategic goals of the business becomes increasingly important. Once such forum is the Board of Directors.
In this episode Russ discusses when you would want to introduce a board to the family business, and how. Who sits on the board, what are their responsibilities? How many board members should there be and how are board meetings structured.
EPISODE 6 - Non-Executive Directors
The appointment of a Non-Executive Director is a key milestone in the evolution and professionalisation of a family business. They bring experience, expertise and an independent voice to your board meetings and they are there to challenge the executive directors, in a constructive way to help you push the business towards its strategic goals. In this episode Russ covers who would be a good fit and who you should perhaps avoid and which characteristics and skills you would want them to bring to the party.
EPISODE 7 - CORPORATE GOVERNANCE
In this episode we look at Corporate Governance and in particular the Wates Principles.
The Wates Principles are a set of Corporate Governance principles that some large businesses need to report against. In this episode Russ discusses these principles and how they can be adapted and adopted by your Family Business.
He also looks at some of the legal structures that can be put in place to protect the shareholders in the business should disputes arise or deadlocks appear in your voting.
You can find the Wates Principles here.
EPISODE 8 - SEries summary
How does all that we've explored in this series tie together? And how can you create family business culture that reflects the value of your family?
EPISODE 9 - THE STORY of Automation ninjas
Kenda and Mike Macdonald own and run Automation Ninjas, a marketing automation business.
Their journey into ownership wasn't a straight forward one but they have created an award winning business that creates amazing customer journeys using buyer psychology and marketing automation.
In this showcase episode we discuss why your business may also benefit from understanding more about how your customers think.
EPISODE 10 - THE IMPORTANCE OF A GOOD WEBSITE
Your website is your shop window for the world. It is likely to be the first experience your customers have of your brand. Given its importance Russ chats to family business Jammy Digital about what your website should include.
Martyn and Lindsay are a husband and wife team who run their own web design agency. In this episode Russ chats with them about the areas you will want to focus on with your websites and importantly what not to do as well.
EPISODE 11 - support for family business during coronavirus
Corona Virus is having a huge impact on the lives of us all. It is a scary time when we are fearful for our families health and well-being and our businesses.
Family businesses across the world will be trying to balance all of the conflicting priorities that exist and will need support to do so.
In this episode Russ offers guidance as to where to get advice, where to get support and some tips on remote working and remaining positive during this exceptionally difficult time.
The resources mentioned in the episode are as follows:
You can email Fiona: Fiona.Graham@ifb.org.uk
EPISODE 12 - using mindfulness to live well during coronavirus
With Corona Virus impacting more and more businesses and people around World, Russ follows up the last episode with an interview with Martin Stepek.
Martin is a mindfulness coach and also a family business expert and so can offer unique insights into how to use mindfulness at times of extreme stress.
Martin's own family business went into administration in the early 2000's and he found that during that extremely difficult time he was able to use his mindfulness practice to help him through.
You can find out more about Martin at the following sites:
EPISODE 13: crisis management
In this episode Russ talks to Managing Director of Family Business Norway, Simone Møkster, Director General of the Institute for Family Business Elizabeth Bagger, 4th generation family business member and founder of the IFB, Alex Scott and John Learmonth who has written studies how family businesses reacted to the Second World War and were able to come out of the crisis stronger.
Whilst there are many differences between the two historical events of WWII and Coronavirus, there are some key characteristics that family companies showed during WWII, which we can learn from today:
- Human Assets
- Getting organised
You can find John Learmonth's article "FIC Crisis Management and Survival – nine practical takeaways from family business war stories" here.
We are living in unprecedented times where we are fearful for our families health, that of our own and the prospects for our businesses. It can be easy to become overwhelmed by the situation, so in this episode Russ offers some reasons to be hopeful.
Many businesses now are aware of and accessing the support available to them from Government and have started to look at what they need to do within their businesses and within the environment they find themselves in.
In this episode Russ discuss some of the reasons he is hopeful and optimistic and shares some tips on how to spend any additional time that you may have as a result of the Government guidance to stay home and save lives.
EPISODE 15: VIRTUAL FAMILY BUSINESS CONFERENCE
Tsitsi Mutendi and Nike Anani are the co-founders of African Family Firms and they have arranged a virtual conference for family businesses with speakers from all over the World.
Given that travel is restricted and gatherings are forbidden it may not seem the best time to be hosting a global conference. However, through the use of technology, determination and a global community of speakers and advisers Tsitsi and Nike have planned an incredible month of live and pre-recorded talks from leading experts all over the world.
Throughout the month of April we will hear from speakers all over the world with guidance and advice on how to weather the current storm and come out the other side in as good a position as possible.
You can find out more about the conference here: www.africanfamilyfirms.org