Systems for Success
How do you develop strong relationships that keep the family thriving for generations? David Bentall joins me today to bring some insight into just that with his years of multi-generational family business experience! For more than two decades, David worked in his family’s real estate and construction business, and during his tenure as President and CEO of Dominion Construction, the family business doubled in size with almost $300,000 in sales! As the successor of such a thriving business, he’ll share with us his experience as the NextGen leader, the appointed president who guided his...
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Learn how to build your family’s relational bank account as Tim and Michelle share how to create healthy boundaries between family members, how to create a cadence of communication in the extended family, and how to deal with failure both in your personal life and in business in a way that helps you and your kids see it as a growth opportunity. This is a rare opportunity to hear the wisdom Tim and Michelle Seneff are gaining as they learn to navigate challenging business and family transitions and intergenerational family dynamics in a way that brings deeper meaning and even joy. Tim Seneff...
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2020 was a crazy year that gave us unique opportunities for profound learnings that can only happen when life is disrupted. We all learned more about ourselves, our relationships, our purposes and our values. Join our family as we gather around the table to share some of our highest impact learnings from challenging circumstances, accomplishments and mistakes. This entry from one of Lachelle’s 2020 reflection may give you some encouragement on your journey: When the world is chaos, when the boat is being rocked and the waves and the wind are large and wild, I...
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This is a rare opportunity to sample the secrets of multigenerational families from the leader of a successful billion dollar a year 120-year-old family business with 341 family member shareholders. What Are the Traits of a Successful Multigenerational Generation Family? They know the family story. They know who they are. They are clear on their values and live them out. They understand trust is important within the family and reinforce that through words and actions. They are clear on the direction they want to go as a family and move in that direction. Each successive generation is...
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This is a golden opportunity to hear the author of, How to Make Your Family Business Last, Mitzi Perdue, distill a combined 280 years of her own family’s culture-building wisdom into one hour. You’ll gain real life lessons and gain practical tools you can use to create and maintain a healthier family culture that could endure for generations. Mitzi combines the experiences of two long-time family businesses: her father Ernest Henderson co-founded the Sheraton Hotel Chain and her late husband Frank Perdue was the second generation in the poultry company that today operates in more than 100...
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The world has forever changed. It’s time to catch the current and make your own wave. What can you learn from the currency of success patterns from the past that will help you adapt to and succeed in a post-COVID-19 world? Learn how you can accelerate the innovation of a more ideal future—now and beyond the current challenges—by adapting past learnings to current realities. Gain valuable insights from Kevin McGovern who has founded over 25 companies, six of which have become world/category leaders (such as SoBe Beverages), and has been lead negotiator/principal in over 15...
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Developing and preserving family wealth and strong values takes great effort. What can you do to make sure your next generations are building on what’s important to your family rather than blowing it? Why is the most common pattern “shirtsleeves to shirtsleeves in three generations”? Most families within one generation develop tangible and intangible values they are proud of. But all too often that which is valuable to one generation is not effectively transferred to future generations. In this episode, we’ll introduce you to two families that have managed to pass various forms...
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Never before have so many families struggled with incorporating what happens in business with what happens in the home. The pursuit of work-life integration has become more important now than ever. But what exactly, does that mean, and how do you do it? Business can be an endlessly fascinating subject that encourages the exchange of ideas and eager discussions about the future. Or the constant demands of business creeping into the home can cause undue stress in the family and disintegrate relationships. How do you deal with the reality that the responsibilities of business can sometimes...
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Relationships are the greatest treasure in life that we could ever have. In this episode, you’ll learn how you can improve your relationship with your parents or adult children. The quality of the relationship you have with your family does matter. Having that best friend type of relationship with your adult children or parents is one that you’ll truly enjoy for the rest of your life. Join us as we discuss how to identify and truly value the differences in each family member, how we can appreciate them through a love language that they speak and keep a mindset of grace. Find out how...
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Nobody said parenting would be easy! Especially, when your kids are growing into adulthood. They are ever-changing, and everything happens very fast. Are you being a good parent to your adult child? Are you still treating your 21-year-old the way you treated him back when he was 14? Many parents struggle to navigate their role in their children’s life as they transition into adulthood. Just like how your child evolves and grows, so should your relationship with them. As parents, you must learn to relate to your grown-up child appropriately. You have to learn to listen more and let them...
info_outlineWhat if you could have the one ring that rules them all? What if you could leverage the one force that influences everything in this world? Those of us who are leaders in the business world, have an incredible opportunity to make the world a better place…much more so than we typically think about or believe.
Virtually everything we can see that is man-made was made by someone who had a vision to start a business, and that business provided income so that people would have jobs, and those jobs created incredible blessing. When you make money you serve everybody, you bless everybody. Everything that is not in its natural state is there because somebody had a vision they turned into something that would bless somebody, something that would give value to someone.
There's nothing like the impact of a business that provides jobs. All the employees then contribute to society. Those jobs create incredible blessing to society. Even a plumber with two can change the world! The process of making money is a way to make the world better. It’s a powerful process to serve and bless people.
As the late, great Steven Jobs said: “Everything around you that you call life was made up by people that were no smarter than you; and you can change it, you can influence it, you can build your own things that other people can use.”
What Transforms Societies?
Some may argue that business isn't the only thing that influences the world. They're right! It's not. As I see it, there are seven primary forces that shape society in any city, nation, and country. They are: Family, Religion, Media, Arts and Entertainment, Education, Government, and Business.
Of these seven forces, there is one that has the most pervasive effect on shaping or driving the other six. You guessed it. That one force that influences all the others is business. Business is the primary driver or influencer of all the other six.
Government
Government certainly has a significant impact on society. But where does government get tax money so it can operate? From the income created by business. People who make money in a business pay taxes that support the government.
Arts and Entertainment
There is no question that arts and entertainment shape cultural norms. What drives the growth of arts and entertainment in society? Who have been the primary patrons of the arts? Who is on the board of directors of the arts councils, the cultural centers or museums? Is it a homeless, jobless guy? Generally, it is the wealthy, who have become so through business. It is mostly business leaders who are the influencers of the makers of art. Robust businesses drive the arts and entertainment, which are influencers of society. If there was never any money exchanged or given to the artist or the one who created, what would happen to art and entertainment? If art has changed society or culture over time, it's because somebody was offering it as a business. If someone sets up an art studio or a theater, they do marketing, sell tickets, provide customer service, and maybe have employees, etc. Of course, there's a lot of good art that never results in money or has anything to do with money. But generally, art that transforms culture has a business element attached to it. Sitting in your room and painting or making music just for your own pleasure is good, but it is not going to transform culture. That work has to be marketed, as a business.
Family
I firmly believe that healthy families are the foundation of any healthy society. Yet the family requires money to function, and that money is generated by some type of business. Even if your family has inherited wealth, someone at some point made that money through business. The Bible indicates that if you don't work and provide for your family you are “worse than an infidel.” Unless you are stealing to provide for your family, you will probably be providing for them as a result of some type of commerce. What has given me the opportunity to focus on raising our family and for my wife to homeschool our kids has been businesses that produced income that allowed my wife to be home to give the best efforts of some of the best years of her life training our children.
Religion
Religion has certainly had a significant influence on shaping society throughout the ages. Every dollar that every church has ever used to do the good work it does, though, was created by a business. You can't give offerings if you don't have money to give. Where does that money come from? Business! Who is on the boards of churches? Who is on the financial committee? Who are the volunteers? None of these important roles are employees of the church. They are all employed by some business. Every volunteer in the church, by definition, is not paid by the church. It is those volunteers who do most of the important work that is done for communities by any church.
Media
Media doesn't just report on what's happening in the world; it influences what people know and believe about the world. How does business influence media? Every media company is ultimately a business. Furthermore, many types of media are strongly influenced by the businesses that become their customers. When a company says, “Our business will not pay for this million dollar advertisement on your media because we don't agree with your agenda”, they have real influential power over that media. Business influences media by voting for or against any media outlet with their dollars.
Education
Education shapes the future of society in many ways, and educational institutions are ultimately run as businesses if they are going to survive. Who is on the boards of universities? Where did money come from to build and run those educational institutions? Even educational systems that are completely free to the student ultimately receive some type of funding (with money created by business) and/or have leaders who volunteer their time on boards who make money to support their lives and their ability to give to causes through business.
I'm not saying that business is the entirety of what shapes this world. All seven of these forces shape the world along with some less dominate factors that I have not mentioned. And certainly, there are other integrated or overlapping influences between these seven forces. For example, one could argue that government or religion could influence all the other forces. But you can see that business has an inordinate influence! Business and business leaders don't control the other forces that shape society. They simply have a significant impact, both through the influence of being an economic driver as well as through the systems and processes of business within each of those other six areas.
If you took business out of a community, the other six forces would suffer greatly and eventually disappear. Of course, government could try to control all the other six forces. It might have the power to take control of resources and even to eliminate businesses. The Soviet Union tried that and demonstrated that this doesn't create sustainable success in society. Of these seven forces that shape society, business has proven over many generations and in many cultures to have the most profound and consistent impact on all the others.
One has to at least ask the question: “Since all the primary forces that shape society are all influenced by and fueled by business, what is the best way to influence the world? What is the highest potential platform to transform society?”
My bet is on business! And if you are a business leader, my bet is that you have more power to change the world than you might think. There is probably something each one of us can do to better leverage our business as a platform to improve society in some way. I’d like to challenge you to think of at least one way that you could more effectively use what you do in business to make your part of the world a better place.
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