Let's Talk Family Enterprise
Host Steve Legler speaks with Professor Pramodita Sharma about sustainability and how family enterprises are uniquely placed to take advantage of business trends in this area. Pramodita shares inspiring stories based on her research, and points family businesses and their advisors into some promising directions. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the...
info_outline 57: The Family Office NavigatorLet's Talk Family Enterprise
In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel's recent book, Family Office Navigator. Together, they highlight the critical role advisors can play when business families consider setting up a family office or want to take a fresh look at what they currently have in place. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely...
info_outline 56: The Link Between Family Business Research and AdvisingLet's Talk Family Enterprise
Ambreen Bhaloo, Family Enterprise Advisor, guest hosts this episode and welcomes Francesco Barbera, Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management for an in-depth discussion on the issue of homogeneity (all family firms are the same) vs. heterogeneity (all family firms are unique). In what ways does family governance lead to greater firm performance? Listen to this episode to find out! Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting...
info_outline 55: Rising Gen Innovation and Creativity in Family BusinessLet's Talk Family Enterprise
In this episode, Host and Family Enterprise Advisor, Aileen Miziolek, talks with Purpose & Identity Coach Perry Gladstone about how family businesses benefit from NextGen innovation and creativity while sharing solutions that allow all parties involved to find the agency and support they need to make it happen. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the...
info_outline 54: 2023 RetrospectiveLet's Talk Family Enterprise
In their traditional annual “retrospective” episode, hosts Steve Legler and Ruth Steverlynck discuss highlights from some of the episodes that debuted in 2023, hoping to stimulate listeners to re-listen for great content they may have missed the first time. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of...
info_outline 53: Working With Systemic Change in Family BusinessLet's Talk Family Enterprise
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description In this episode, Aileen Miziolek talks with Marita Fridjhon, co-author of System Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility and Foster Collaboration, and co-founder of CRR...
info_outline 52: Working With Family Relationship SystemsLet's Talk Family Enterprise
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description: Host Steve Legler welcomes Aileen Miziolek as his guest for a discussion about the intricacies of working with families, and how thinking about them as a "relationship system" can be useful. They discuss...
info_outline 51: Communication Dynamics in Business FamiliesLet's Talk Family Enterprise
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. This month, we welcome Family Business Member, FEA and Family Enterprise Foundation Board Member, Ambreen Bhaloo, as guest host of our podcast. Ambreen welcomes , former BBC Correspondent, Speaker and Coach to talk about...
info_outline 50: Wealth 3.0Let's Talk Family Enterprise
Special Video Episode: Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. DescriptionIn this special 50th video episode, host Steve Legler speaks with all three authors of the recently released book, Wealth 3.0: The Future of Family Wealth Advising, Jim Grubman, Dennis Jaffe and Kristin Keffeler....
info_outline 49: Stewardship for Enterprising FamiliesLet's Talk Family Enterprise
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with David York, author of The Gift of Lift and Entrusted, about the concept of stewardship and how it applies to enterprising families. York also shares his three questions that...
info_outlineIntroduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Daniel Trimarchi from KPMG about the STEP Project Global Consortium and their recent report, The Regenerative Power of Family Businesses, which highlights the staying power of family enterprises and reveals the factors behind their lasting competitive advantage.
Guest bio
Daniel Trimarchi is the Director, Family Business Advisory Services as well as the Director of KPMG Enterprise Global Centre of Excellence for Family in Canada. He specialises in family governance and succession planning with business families of various sizes and complexities. Daniel has over 10 years of experience working in Canada, the UK, and Australia, providing consulting services, business strategy, and compliance services to the family business and family office market.
You can find out more about Daniel on the KPMG website.
Key Takeaways
[:26] Steve Legler is your host for this episode and welcomes Daniel Trimarchi and asks him to talk a little bit about the STEP project background before diving into the results of its most recent study.
[5:15] Daniel shares a little bit about the true breadth of this multi-country, multi-university study.
[7:01] The results were handled by KPMG so as to incorporate perspectives from the enterprising families, a secondary stage that lent depth to the results that followed.
[10:06] Daniel talks about how the team derived a formula for performance output with entrepreneurship as its first factor.
[13:49] The second part of the formula speaks to the importance of family control and influence; Daniel talks about the recently popularized concept of socio-emotional wealth.
[15:13] Daniel breaks down the performance types and the broad set of components they can fit into. He also explains how each factor would impact each type of performance in a 2x2 matrix.
[21:13] How does this all impact FEAs and advisors and how can they use the results of this study practically? Daniel talks about how the report has been used already as well as his own experience.
[25:57] The report included a Canada-specific analysis; Daniel shares a little bit on the specifics of this.
[28:04] Daniel shares his book recommendations as well as his one piece of advice from an advisor to other advisors.
[31:30] Steve thanks Daniel for coming on the show to share his expertise with the audience.
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Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
STEP Project Global Consortium
STEP report: The Regenerative Power of Family Businesses: Transgenerational Entrepreneurship
Daniel’s reading recommendations:
Interdependent Wealth: How Family Systems Theory Illuminates Successful Intergenerational Wealth Transitions, by Steve Legler
Perpetuating the Family Business: 50 Lessons Learned From Long Lasting, Successful Families in Business, by John Ward
More about Family Enterprise Canada