The Family Business Voice

Every year, up to 1.2 million children fall victim to trafficking, and many remain undetected, hidden from national authorities and anti-trafficking organisations. Of global trafficking victims, 66% are girls. Often, these victims are young migrants seeking refuge, only to become vulnerable to trafficking and its inherent exploitation. The horrifying "business" of human trafficking is thriving, generating billions in profit at the expense of the lives it destroys. Paul Hutchinson was managing the multi-billion-dollar investment fund he co-founded, as well as working with several charitable organisations when he received a phone call that would alter the course of his life. He was told that rescuing 100 trafficked children in Colombia required more than just the usual philanthropic cheques he had become accustomed to writing. He would have to become part of an undercover operation at great personal risk.  The request was extremely dangerous, with unimaginable reasons underlying its urgency. The events that transpired as a result of that fateful phone call not only transformed Paul's perspective but also became the foundation for his new purpose – to eradicate child trafficking and its root causes. The organisation he founded as a consequence, the Child Liberation Foundation, is to date responsible for over 70 undercover missions in 15 different countries, recovering more than 5000 children.  In this interview, Paul Hutchinson, entrepreneur, investor, philanthropist, and executive producer of the highly successful film "Sound of Freedom," partially based on his experience in Colombia, shares his extraordinary journey: one that saw him leave the investment fund he co-founded to spearhead a global movement to create a world in which every child can experience safety, freedom, and hope.

Ana Maria Guerrero Carvajal, president of the Board of Directors of her family’s Fundación Carvajal, recognises the considerable challenges the charitable foundation currently confronts. In response, Fundación Carvajal, an organisation dedicated to helping Colombia’s most vulnerable overcome poverty, has remodelled its strategy, promoting a holistic approach aimed at addressing the elements of poverty on many fronts. The organisation primarily focuses on its home city of Cali, which has been significantly impacted by the COVID-19 pandemic.   We spoke to Ana Maria about her family’s unwavering commitment to its community, why social impact has to be redefined in a rapidly changing context, and how her journey led to her role in the foundation.  -Despite the Foundation’s 60 years of experience supporting education and other social initiatives, the global pandemic, which led to widespread rioting in Colombia, prompted the organisation to reevaluate its philanthropic approach. The Carvajal Foundation adopted a more holistic strategy that focused on specific geographic regions with several strategies that complement each other for greater impact.  -Keeping newer generations engaged in the Foundation’s work can be challenging, but critical to its future success. The organisation provides several programs designed to get next gen family members involved in the business at a senior decision-making level, providing them access to board meetings and giving them a window into the obstacles the company must confront. Family members can also work on specific tasks in different programs implemented by the foundation to gain insight into its work and objectives.  -Communication and the ability to connect with community members are vital for determining the barriers that keep people from prosperity. Gaining confidence and trust is the basis for everything the Carvajal Foundation does and also enables them to establish the kinds of partnerships and international cooperation needed to quickly scale their activities in line with growing social urgencies.  Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon, and YouTube.

Cristina Carvajal remembers exactly what it was like to visit her family’s printing business with her father when she was a little girl. The sights, sounds, and smells of the printing presses left a life-long memory that later, she confesses, shaped her involvement in the family’s enterprise. Now serving as the council’s president, Cristina continues to work on the unity among the more than 300 family members and to embrace the transformative change she believes will benefit the family’s future generations.  We spoke to Cristina about the importance of the Carvajal family council, how international family members get involved and contribute to the different sectors of the council, and what the family council is doing to evolve and change as younger generations start to get involved with Carvajal.  -Carvajal's family council is in its sixth generation with around 322 family members and growing. Cristina was the first family council member to be appointed who didn't live in the region, which opened the door to other family members joining from around the world. Today, Carvajal family council members live in Mexico, Miami, and Panama, in addition to Colombia — all committed to attending meetings and making contributions.  -The family council was initially established to create a family protocol but has developed into an integral piece of Carvajal's organisation. The council interacts closely with the company's leadership and often acts as an information funnel for Carvajal's executive team where they can ask questions or communicate concerns.  -In 2018, Carvajal's family council began a process of strategic planning to determine the programs that would be most beneficial to support. The council's areas of focus are communication, education, family unity, and legacy, while also overseeing the family protocol. Many of the council's programs are designed to inform, unify, and engage Carvajal family members. The council also acts as a pipeline for finding and cultivating new talent for the business within the family.  Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon, and YouTube.

Despite the formidable challenges of a global pandemic, Pedro Carvajal and the entire Carvajal organisation united around the company’s longstanding culture of putting people first and “doing things right”. Obstacles presented by the crisis became opportunities for Pedro and his team, who implemented changes to improve the organisation and its resilience to future disruptions.   We spoke to Pedro about how his family’s core beliefs and social agenda are critical factors in maintaining the company’s performance and longevity, why he doesn’t think about the future too often, and how he balances his many roles.  -Pedro was appointed CEO of Carvajal in 2020, just as the COVID-19 global pandemic was disrupting operations around the world. Pedro worked closely with the company's chair to address critical decisions and devise strategies that would see the company emerge from the crisis even stronger. -The importance of sustainability and social responsibility has always been an important pillar of the family business. Today, ESG, conscious capitalism, and sustainability initiatives form the foundation of Carvajal's activities. The Carvajal organisation considers the community its largest shareholder, making the company's social objectives just as important as its economic ones.  -Pedro believes that structure follows strategy, underscoring how important planning and preparation are for the business. While actively working to provide solutions for today's market demands, the company also focuses on the future and tries to anticipate what disruptive forces may lie ahead.  Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon, and YouTube.

Philip Mackeown is an author, career coach, and fifth-generation business director. After spending 25 years working in his family’s leading food retail group in Ireland, the Musgrave Group, Philip set out to write the book he wished he’d read upon entering the family business. His book, “The Successor’s Voice”, is a practical guide aimed at empowered family enterprise successors looking to develop, grow, and make a difference in their roles. Join Philip as he discusses the succession process from the perspective of the successor and why he feels preparation brings key advantages to the opportunity. -Intentionally, or unintentionally, many families put pressure on their next generation to join the business, often asking leading questions about their inevitable involvement. Consequently, successors can view their role through the lens of the family’s needs, instead of their own. Rather than answering the question of when they will join the business, successors would be better served asking themselves if they’ve taken command of the value they bring. -Family business continuity depends on several factors, from asset growth to asset stewardship and a host of other details in between. But building family consensus is equally important. A critical task for successors is fostering agreement among family members that the enterprise will continue to progress forward from one point to the next, and the next again. -Successors who take agency over their role and its function are better prepared for meaningful development and superior outcomes in their family’s business. A part of that is acknowledging how being a successor will probably always inform who they are and the approach they choose in their family enterprise and other professional contexts. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon, and YouTube. “The Successors Voice” is available at http://www.philipmackeown.ie/

Traditionally, family enterprises focused their philanthropic efforts in the communities close to their operations, where they could generate the greatest impact. Today, there’s an abundance of worthy global causes all competing for their attention. To maximise their impact, families need to align on the issues important to them while also addressing the challenges of harmonising and orchestrating philanthropic strategies in a fast-changing world. On this episode, Dr Malgorzata Smulowitz, Research Fellow, and Dr Peter Vogel, Professor of Family Business and Entrepreneurship at the IMD Global Family Business Center, discuss the findings in their study, “Navigating your family’s philanthropic future across generations”, and how it suggests a real need for families to transform, organise, and codify their philanthropic activities in a rapidly changing world. - Considered a soft topic by many, secondary to the running of a company, philanthropy often emerges as a challenge for families, especially when philanthropic activities are an integral part of the family system. The emotion that drives charitable efforts makes uniting families around a common cause complex. - The innovative and entrepreneurial spirit that drives the business activities of family firms can complement their philanthropic efforts, generating new opportunities and maximising the scale of their resources. - Communication is key if families are going to align their philanthropic goals. The engagement itself can also be rewarding for family members, reshaping individual perceptions and testing rivalries. For next generation family members, finding a supporter respected within the family is often an important first step to initiating meaningful change in the family’s philanthropy program. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube. View the IMD study, “Navigating your family’s philanthropic future across generations”.

On this episode of The Family Business Voice, Ryan Margolin talks about the entrepreneurial path that led him to become CEO of Professional Hair Labs, a global leader in cosmetic bonding. Growing up with business-owning parents helped influence Ryan’s pursuit of personal and professional development, which continued after relaunching his father’s business and shaped the strategies he used to expand it. Ryan discusses the process that led him to alter the trajectory of the business and the lessons learned along the way by its family of stakeholders. Ryan also talks about how following his core principles informed his approach to leadership and why that is still so important to him. -Failing is as much a part of the entrepreneurial experience as succeeding. Often moving forward means examining failures from different perspectives, and empathy is the key to understanding those diverse points of view. -Ego can act as a barrier to greater growth as an entrepreneur. Realising you need help to achieve your goals, especially as those goals shift upward, is an important step to taking your business to the next level. -For many people, the business journey is reflected in direct relation and proportion to the effort they’re willing to put into figuring it out. The difference between finding the right direction and staying lost is sometimes simply a failure of commitment. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, Laurette Rondenet discusses her journey with Edlong, a family business and leading innovator in the food-flavourings industry. Laurette has been Edlong’s principal owner, President and CEO since 2012, making her the first and only woman to own a food flavouring company in the world. She sits on the board of several national and international business organisations and currently serves as the Vice President & Secretary of the Flavor and Extract Manufacturers Association of the United States. Laurette talks to us about what it takes to build a culture of innovation in a legacy business, the role of family dynamics and the journey towards defining her own leadership style. - Fighting imposter syndrome and acknowledging your true power is the first step in owning your legacy. Trust that you own your accomplishments. - The next generation can’t be their parents; they have to find their own voice and approach to leadership, which is difficult. - Create an atmosphere that engenders authentic belonging. A culture where people can be themselves means that people will find their own way to success both for themselves and for the business. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of the Family Business Voice, author, consultant, and business coach Jonathan Goldhill speaks about the unique emotional and psychological hurdles many next-generation business owners confront. Jonathan and Ramia also discuss the importance of redefining how success is measured for the next-gen leaders of family enterprises, and the paradox they face when attempting to introduce disruption to long-standing business models that covet stability in pursuit of longevity. -Many next-gens feel the burden associated with believing they are not worthy enough compared to previous generations, which can result in a form of “imposter syndrome”. But the unique circumstances that contributed to the success of earlier generations must be taken into account. Next-gen business leaders must realise that contexts change and redefine what constitutes success for them using their own metrics. -Where previous generations were driven by a hunger to survive, next-gens need to find their own motivation, such as increasing profitability, bettering processes, improving culture or introducing transformative technology. -Creating a “sticky” environment that encourages employees to stay with the business is potentially critical for business successors, but next-gen’s should also realise that some changeover is healthy. There is a Darwinian process for every business in transition. It may be difficult, but not everyone is well suited to continue on a company’s journey when new leadership takes the reins. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, François de Visscher talks about the important shift in mindset that can help families grow, manage, and safeguard their long-term wealth. Francois and Ramia also discuss the core values and other intangibles that families should consider when defining their wealth, how family members can support the transition from business owners to wealth owners, and the psychological impediments that get in the way. François de Visscher is the founder of de Visscher Advisors, one of the world’s leading independent financial consulting firms for family businesses owners. He’s also the Co-founder of FODIS, which specialises in direct investing for family offices. Read the full article here. -Families should take a ‘portfolio view’ of their wealth using a green, yellow, and red labelling system identifying activities that should continue, change, or halt, given current market or economic conditions. -The assets in a portfolio should work toward the goal of stability, growth, or agility depending on the opportunities a family wishes to leverage or the uncertainty it hopes to sidestep. -Risk is an important consideration when families are determining a course of action, but avoiding risk altogether can leave families just as exposed — stuck in traditional models that will inevitably become obsolete. Instead, families should stay close to their core competencies when approaching risk, fully understanding why it’s necessary and how it will lead to advancement. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of the Family Business Voice, Nike Anani discusses her new book, Lifetime to Legacy, and how it can help business families navigate succession. Nike and Ramia explore the importance of relational values to family business continuity and discuss techniques that founders and next-gens can use to facilitate the transfer process. - Founders typically focus on the technical and legal side of transition, but building bridges and relationships within their organisation is just as important in preparing the next generation. - Different cultures perceive the family structure within their unique and sometimes rigid context. Next-gens, exposed to Western ideas of independence and autonomy through school or travel, can clash with incumbent generations when they return home. Working through these complexities takes understanding and engagement from both sides. - Data suggests that most unsuccessful family business transfers are due to a lack of trust and communication, not through failed strategy or technical planning. Next-gen members looking to bridge the generational divide should start small with open discussions that include siblings and other family members. First-gen members can take a similar approach, speaking with their spouses about the kind of legacy they wish to leave. The most compelling legacies revolve around the collective family and not any single individual. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, Sara Stern discusses her new work, Married to the Family Business: a Handbook for Spouses of Family Business Owners. Sara Stern is a speaker, author and consultant who decided to write a handbook for spouses of family business owners because of the apparent vacuum of resources out there for them. Though they might not sit on the board or hold an operational role in the business, spouses are at the centre of it all. They are often influential in decisions and are subject to some unique stressors because of the ambiguity of their roles.  - Spouses often get caught in triangles as the go-between for people that wish to talk to their partners, which is almost always a bad idea as it conflates family relationships with business relationships. Maintain strong boundaries to keep these areas separate. - It's best for partners to provide support without taking sides. Try "That sounds hard. What would be an ideal outcome?" rather than "That sounds hard. Your sister is really difficult." - Spouses need to understand their 'why' and have firm boundaries around what they're willing to do. At the same time, they need to understand their partner's 'why' and decide what that means for their relationship. For example, is a call every night at dinner acceptable? If it isn't, those expectations need to be voiced and respected. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of the Family Business Voice, John Giovannini speaks with Ramia about having to plan 15 years into the future because of long production cycles, the importance of holding on to biodiversity in the caviar industry and how his father's dream developed over time. Read the full interactive article here. - As it takes 10-15 years for a sturgeon fingerling to grow large enough to produce caviar, the Giovannini family have to plan far into the future. An operational reality that John says would be impossible without entrepreneurial self-belief and a positive outlook. - Downturn and opportunity often go hand in hand. Demand for caviar actually went up over the pandemic, which, with a limited supply of caviar dictated by the spawning season ten years before, means that Ars Italica's product is worth more than ever. - According to John, the way that Ars Italica approaches biodiversity, spawning natural species even if it means lower yields and a longer production cycle compared to hybridized variants, should be applied across the food chain to guarantee more nutritious products that are healthy for us and the environment. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, Dr Jamie Weiner and Russ Haworth speak with Ramia about their new book, The Quest for Legitimacy, which explores the unique struggle of those growing up in the family business. Dr Jamie Weiner’s experience as a clinical psychologist gives him insight into the complex dynamics that exist between family members. Since 2018, he’s devoted himself to qualitative research on the rising generation of prominent family businesses, culminating in The Quest for Legitimacy model.  Russ Haworth is a UK based family business consultant who first entered the field nearly 20 years ago as a financial planner and wealth manager. Russ is also the host of The Family Business Podcast.  - Rising gen family members often lack the sense that they belong in the position they find themselves in. Getting there requires awareness, introspection and exploration. - Being part of the rising gen isn’t necessarily a product of age. Look at the new King Charles III, for example, who was a rising gen until 73. - A rising gen’s path is often defined by transition points, which can be the death of a family member, the sale of a key company, or even something subtler, like a conversation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, Maya Prabhu and Dr Dennis Jaffe speak with Ramia about their work on the Tavares de Melo case study, which was published by Tharawat Magazine and written with Carolina Cintra. Read the full interactive article here: https://www.tharawat-magazine.com/stories/tavares-de-melo-5th-generation-family-enterprise/ Dennis Jaffe is a family business consultant and acclaimed author of books in the field. He is based in San Francisco.  Maya Prabhu, based in London, leads J.P. Morgan Private Bank’s Wealth Advisory practice for the EMEA region and the International Family Governance practice. - Tavares de Melo’s story is one of constant reinvention — an instructive example for family businesses that must deal with changing contexts, personnel, and dynamics over time. - After 90 years in business, Tavares de Melo sold its physical assets and became a family office. Their work to keep the extended family engaged and unified since then is a lesson in governance and organisation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

In this episode of The Family Business Voice, Tom McGinness and Andrea Calabró discuss the findings from KPMG Private Enterprise and the STEP Project Global Consortium's Annual Report, which surveyed 2,439 CEOs and other leaders from top family businesses across 70 countries and territories. Using this extensive data set, the report outlines three success factors that underpin multigenerational family success around the world. Tom McGinness is the Global Leader of Family Business for KPMG Private Enterprise and an Experienced Senior Partner at KPMG. Andrea Calabró is the Global Academic Director, STEP Project Global Consortium. - The entrepreneurial orientation of upcoming leaders — a quality that allows them to take calculated risks that benefit the growth and innovation of the business — is a learned behaviour that can be developed by letting next-gens use small amounts of family capital to explore their entrepreneurial instincts from a young age. - Unlike their non-family peers, family enterprises also measure their success through their socio-emotional wealth. This factor, which speaks to the intangible assets, including relationships, that an organisation holds, enables better decision-making and holistic, long-term strategising. - With such strong ties to the organisation, family business members tend to exhibit motivational and transformational styles of leadership, which, coupled with their entrepreneurial orientation and emphasis on socio-emotional wealth, can contribute to better performance. Read KPMG Private Enterprise and STEP Project Global Consortium's Annual Report "The Regenerative Power of Family Businesses" here. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, we speak to Neus Feliu, Partner at Lansberg Gersick Advisors, about her work on the Family Enterprise Global Survey on Generational Perspectives. This important study indicates 'stress' areas that family businesses might want to focus on, while also breaking down stereotypes about generational perspectives in family enterprises. Next-gens and current leaders might not be as different as we may think, although there are some important distinctions that are worth paying attention to. Read the full survey here. - Younger generations often think that senior generations don’t have the dynamism to undertake the change necessary to move forward, and trying to avoid conflict both generations avoid the subject, which can set this misconception in stone.  - Next-gens and their elders often disagree on the skills necessary to lead, which is significant because families must find common ground if they are to provide a structured road map to develop next-gens within the organisation. - Interestingly, both generations are generally in alignment when it comes to sustainability. - The survey shows that men and women have different priorities within the business. Women are generally more interested in sustainability and family, while being less aspirational about executive positions, which belies the fact that there still exists a level of discrimination that must be dealt with before family business can truly grow as equitable organisations. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Amazon and YouTube.

On this episode of The Family Business Voice, we spoke to Jonathan Edgeley, the Founder of Montrose Advisory, about dealing with addiction in the family enterprise. Jonathan grew up in a family enterprise environment and as a young man, was outwardly successful while at the same time struggling with addiction and other mental health issues. Now, Jonathan uses those experiences to help others on their lifelong journey of recovery. - There is still a stigma associated with mental health in the family business. People are more willing to talk about it now than ever but much more work is needed. - Family businesses are generally very private, and this tendency to protect reputation can work against those who are suffering. Part of the problem lies in that people see what they want to see. - Blame or shame has no part in the recovery process. Instead, family members must approach the situation with love and compassion, while at the same time understanding how their behaviour might enable another’s addiction and ceasing that behaviour. - Acknowledgement, acceptance and action are fundamental to the healing process. Family members around those who need help with addiction also need to go through a process of recovery so that everyone is on the same page. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.

On this episode of the Family Business Voice, we speak with Dr Sofia Bordone, owner and CEO of legacy publishing house Editoriale Domus. Sofia works closely with her mother, Giovanna, to bring their grandfather's business to new heights in the face of a heavily disrupted publishing industry. We talk to Sofia about the mindset required to enable innovation as well as Editoriale Domus’ celebrated history, her experience as a woman in publishing, and how she maintains influence in the age of social media. - Sofia's positivity allows her to see change as an opportunity. Editoriale Domus has changed time and again over the last 90 years and innovation remains at the core of the family publisher's outlook. - According to Sofia, there are distinct advantages to family ownership, especially when it comes to quick decision-making. As both CEO and owner, fewer obstacles stand in the way when the situation necessitates speed. - For women entering key positions in the family business, Sofia's advice is: be yourself. Act, dress, and think like a woman because that’s who you are, and it’s one of the positive attributes you bring to a company. Diversity adds value and brings power to any organisation. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.

On this episode of the Family Business Voice Ramia speaks with Marshall Rabil, third generation owner and Marketing Director of Hubs Peanuts. See the full interactive article here. Marshall discusses what his family’s legacy, started by his grandmother, means to him, why peanuts are in fact a superfood and why his vision for the future centres around community. - Community is at the core of Hubs Peanuts. The way Marshall sees it, their community helped his grandparents Dot and HJ build the business, so it’s their responsibility to give back. - Hubs Peanuts has an incentivised volunteer program for it’s employees called Hubs Hearts, which allows them to choose the causes they donate their time to, because volunteer service doesn’t count for anything if it’s not from the heart. - Hubs Peanuts also works closely with their peanut farmers, and has even started a single-origin product line that is partly inspired by Marshall’s experiences in the development sector, where he saw the value of single-origin coffee and cacao initiatives. Listen and Subscribe on Spotify, Apple Podcasts, Google Podcasts, Stitcher, TuneIn and YouTube.