Summary

In this episode, Russ Haworth discusses the importance of ownership in business strategy and the need for clear roles and alignment among owners. He emphasizes the significance of preparing future generations for ownership and ensuring healthy relationships with management teams.

Links

The Four Room Model - https://banyan.global/spotlight/the-four-room-model/

Episode with John Davis discussing The Three Circle Model - https://fambizpodcast.com/episode43/

Assessment - https://familybusinessassessment.scoreapp.com

Support the Show

The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.

www.fambizpodcast.com/support

Work With Russ

If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com

Sign up to the Newsletter

You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now

Mentioned in this episode:

The Path

If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath

Summary

In this conversation, Russ Haworth explores the intricate relationship between family values and the underlying needs that drive them. He emphasises that when families disagree over values, they are often expressing unmet or conflicting needs.

For instance, valuing loyalty may indicate a need for security, while valuing freedom may reflect a desire for autonomy. This understanding can transform family dynamics and improve communication.

Takeaways

When you say you value loyalty, you're expressing a need for security.

Valuing freedom indicates a need for autonomy.

Disagreements over values often stem from unmet needs.

A founder's value of hard work may hide a need for control.

Next-gen family members may value creativity for self-expression.

Understanding these needs can change family conversations.

Neither perspective is wrong; they reflect different positions.

Values are often a reflection of deeper needs.

Communication improves when we understand underlying needs.

Recognising generational differences can enhance family dynamics.

Article Links

• Matt Wesley
• Dennis Jaffe

Assessment and Blog Links

• Assessment
• Blog

Support the Show

The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.

www.fambizpodcast.com/support

Work With Russ

If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com

Sign up to the Newsletter

You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now

Mentioned in this episode:

The Path

If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath

In this conversation, Russ Haworth discusses the complexities of shared ownership in family businesses, emphasising the importance of individual fulfillment and the need for a collective vision that respects diverse goals. He highlights that alignment in ownership does not require uniformity, but rather a common understanding of how the business can support each family member's aspirations.

Takeaways

Families often feel pressured to have the same dreams or goals.

Alignment in ownership does not mean identical understanding.

Respecting individual fulfilment is crucial for collective success.

A clear ownership vision helps guide family businesses.

Finding common ground is essential for effective collaboration.

Individual aspirations can contribute to a stronger collective vision.

Legacy creation is a key aspect of shared ownership.

Honest conversations about fulfillment lead to better outcomes.

Diversity in goals can enhance business support.

Shared ownership requires ongoing dialogue and understanding.

Support the Show

The podcast is entirely self-funded by me. I am not looking for sympathy as it is something that I love to do and I have a passion for providing great content for family businesses across the world. Some listeners have asked for ways in which they can support the show, be that through reviews, sharing with friends or a donation. As such I have set up a page that outlines all the ways that you can support what I am doing.

www.fambizpodcast.com/support

Work With Russ

If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: russ@familybusinesspartnership.com or head over to www.familybusinesspartnership.com

Sign up to the Newsletter

You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now

To join our Ownership Masterclass - Register here: https://www.bhavana.familybusinesspartnership.com/p/Ownership

Mentioned in this episode:

The Path

If you would like to find out more about the Guided and Self-Guided versions of The Path, please head to https://familybusinesspartnership.com/thepath