Buying a Family Business: How Michael Bower Revived a Struggling Company | Family Biz Show Ep. 109
Release Date: 03/13/2025
Built To Last: Sustainable Success For Family-Owned Construction Businesses | The Family Biz Show Ep. 132
The Family Biz Show
Growth can look like success from the outside. But inside a family-owned construction business, growth can also create pressure, confusion, and decisions the original business model was never designed to handle. “You built something successful, but why does it feel harder to run?” “Why is every decision still coming back to you?” “How do you pass the business forward without damaging the family?” “What happens when wealth grows faster than communication?” “Are your advisors solving separate problems, or helping you see the whole picture?” This conversation gives you the...
info_outline
What Wealthy Parents Must Teach Their Children Early | The Family Biz Show Ep. 131
The Family Biz Show
If you are raising children in a wealthy family, you may wonder how to give them opportunity without taking away their drive. This conversation helps you understand what children need to learn early so wealth becomes a source of responsibility, not entitlement. “I want my kids to appreciate what they have.” “I don’t want comfort to make them soft.” “How do I talk about money without saying too much?” “How do I raise grounded children when life is already easier for them?” “What if I’m accidentally making things too easy?” This conversation gives you the answer. In this...
info_outline
The $84 Trillion Opportunity Most Family Businesses Are Missing | The Family Biz Show Ep. 130
The Family Biz Show
You can build a successful business… and still lose the family along the way. Most family business transitions don’t fail because of one catastrophic mistake. They fail because of small conversations that never happened. Because leadership wasn’t prepared. Because expectations were never aligned. Because no one wanted to ask the hard questions. “What happens when I step away?” “What if my kids don’t want the business?” “How do we protect both the company and the relationships?” “Why does every conversation about succession become emotional?” This conversation gives you...
info_outline
The Family Business Problems Legacy Can Solve | The Family Biz Show Ep. 129
The Family Biz Show
Most conversations about family business problems focus on what’s broken—conflict between generations, lack of succession clarity, or stalled growth. But what if many family business problems aren’t caused by dysfunction at all? What if they’re caused by something far less obvious—and far more fixable? In this episode of The Family Biz Show, Michael Palumbos sits down with second-generation owner Ed Delia to explore a different lens: many family business problems are not operational failures. They are translation failures. They come from businesses that have built something...
info_outline
Common Mistakes During Family Business Estate Planning | The Family Biz Show Ep. 128
The Family Biz Show
What if the biggest threat to your family business legacy isn’t taxes, markets, or competition… but the way your estate plan was designed? This episode challenges one of the most accepted beliefs in family wealth: that family businesses inevitably fail by the third generation. “Why does it feel harder to talk about wealth with my kids than it does to build the business?” “How do I prepare the next generation without losing control?” “What if my estate plan is protecting the money… but hurting the family?” “Why do successful business leaders struggle with family...
info_outline
How to Grow a Family Business Without Breaking The Family | The Family Biz Show Ep. 127
The Family Biz Show
What if you could grow your family business without losing the relationships that matter most? Too many family businesses succeed financially while quietly falling apart personally. This episode explores how to avoid that. “I feel like the business is creating distance in my family.” “Growth is bringing more pressure and conflict.” “How do we scale without losing trust?” “I don’t want success to come at the expense of relationships.” “Can family and business actually work together long term?” This conversation gives you the answer. In this episode, Christina Armentano,...
info_outline
Family Business Governance That Actually Works Across Three Generations | The Family Biz Show Ep. 126
The Family Biz Show
What if family business governance was less about formal rules—and more about having the right conversations before things break? If you work with family, you know the tension can feel personal fast. “Why does a small disagreement turn into something bigger?” “How do we keep family roles and business roles clear?” “What happens when the next generation wants to grow differently?” “How do we honor the founder without staying stuck?” This conversation gives you the answer. In this episode, you’ll hear from Peter Roberti of Adrian Jules, a third-generation custom clothing...
info_outline
What Makes a Family Business Last Across Generations | The Family Biz Show Ep. 125
The Family Biz Show
What actually keeps a family business alive across generations? And how do you protect both the business… and the family relationships that come with it? “Why does succession feel so complicated?” “How do you prepare your kids without creating entitlement?” “What happens when family dynamics start affecting business decisions?” “How do you know if the next generation truly wants this life?” This conversation gives you the answer. In this episode of The Family Biz Show, you’ll hear the powerful story of Domenic Cortese and Cortese Construction Services — a family business...
info_outline
Why Brand Can Make or Break Family Business Succession & Legacy | The Family Biz Show Ep. 124
The Family Biz Show
Why Brand Can Make or Break Family Business Succession & Legacy In Episode 124 of The Family Biz Show, host Michael Palumbos welcomes back Megan Lynch of Six Point Strategy for a wide-ranging conversation that connects branding, trust, and reputation to the real drivers of Family business succession, Family business leadership, and long-term enterprise value. What makes this episode especially powerful is that Megan isn’t approaching brand as “marketing”—she approaches it as an essential part of family business strategy, Legacy planning, and Business continuity for families. Megan...
info_outline
Passing On the Family Business—Without Passing It Down | A Father-Daughter Story | The Family Biz Show Ep. 123
The Family Biz Show
In Episode 123 of the Family Biz Show, host Michael Palumbos welcomes Brad and Olivia Mountz of Mountz Incorporated for a powerful conversation that challenges traditional assumptions about family business succession and passing on the family business. This episode blends heartfelt storytelling with practical frameworks in family business leadership, legacy planning, and long-term business continuity for families. As Brad and Olivia share their journey—from working together across generations to ultimately choosing a strategic sale of the company—they offer deep insights that any Family...
info_outlineIn this episode of the Family Biz Show, Michael interviews Michael Bower, who shares his journey of acquiring and revitalizing Eagle Metal Craft, a multi-generational family business. They discuss the challenges of succession planning, the importance of maintaining a strong company culture, and the impact of family dynamics on business operations.
Bower reflects on his experiences navigating the complexities of a declining business, the significance of mentorship, and the strategies he implemented to professionalize the company and drive growth. The conversation emphasizes the need for clear planning and the value of external support in achieving long-term success in family-owned businesses.
Takeaways:
- Michael Bower took over a declining family business and revitalized it.
- Succession planning is crucial for the longevity of family businesses.
- Cultural shifts can significantly impact employee morale and engagement.
- Professionalizing a business can lead to increased value and growth.
- Mentorship and advisory groups provide essential support for business owners.
- Understanding family dynamics is key to navigating business challenges.
- Investing in employee well-being can enhance company culture.
- A clear vision and strategic planning are vital for business success.
- The importance of maintaining a strong company culture through transitions.
- Long-term planning can create opportunities for future generations.
Chapters:
00:00 Introduction to Family Business Dynamics
03:54 Michael Bower's Journey to Eagle Metal Craft
06:57 The Evolution of Eagle Metal Craft
10:10 Challenges of Acquiring a Declining Business
13:01 The Importance of Succession Planning
16:06 Navigating Family Dynamics in Business
23:07 Cultural Impact of Family Business Transitions
32:09 Navigating Family Dynamics in Business
33:14 Transitioning Leadership: A New Era
35:21 Enhancing Workplace Culture
38:07 Negotiating the Business Sale
41:29 Vision for the Future: Growth and Strategy
50:31 The Importance of Mentorship and Advisory Groups
52:20 Generational Thinking in Business
57:07 The Value of Outside Help
01:02:19 Planning for Long-Term Success
01:07:36 Introduction to Family Business Insights
01:08:06 Engagement and Community in Family Business