Maintaining hope
"Even if the hopes you started out with are dashed, hope has to be maintained."
Seamus Heaney
How are you all doing? Are you hanging in there? I hope so. Seamus Heaney, the Irish poet, knew that succumbing to bleakness does not move a person through a difficult time. What does work is staying focused on what you can change, improve, or accept right now. It also helps to look to our past—to our elders, and to our family business history—to find stories of troubles that were survived and overcome. In every family business there is a past tragedy, a near bankruptcy, a market correction that nearly brought the company or family to its knees. Now is the time to share these stories of survival, innovation, and growth.
My word is my bond
Family businesses can benefit from having independent directors on their boards. Independent directors view the business through an objective lens and provide oversight for the senior leadership's strategy. The best independent directors understand the need to respect the family-side of the family business.
Andrew Keyt, clinical professor in family business and subject matter expert on governance, will be teaching a master class for independent directors on August 27. This three hour class will cover the secrets of the most highly effective independent directors. Register for this live online class here.
Restored by a good story
We’ve spent a good part of the summer redesigning the FBC’s unique family business institutes; our aim was to transform the upcoming fall classes into optimal, live, online experiences. Our creative redesign will ensure that virtual experiences will be both intimate and robust, bringing members together to learn in a confidential environment.
For now, these small class experiences will be adjusted to run for a shorter period of time each day, with case studies, one-to-one breakouts, and coaching. As soon as we safely can, we will convert to in person meetings.
Learn more about these live online institutes. We are offering fast, free, and informative one-hour sessions over the next few weeks.
- Governance Institute info session
August 11 at noon CDT Register here - Stewardship Institute Info session
August 18 at noon CDT Register here
The phrase is HUMAN capital
Layoffs are here. In 2008, I witnessed firsthand the effort family businesses made to retain their teams and employees. Many did everything they could—sacrificing profit and resisting pressure to cut to the bone. They held on, were patient, and if they had to furlough workers, they rehired them when possible. They valued their employees and it showed. Culture matters and good leaders support people. Women are disproportionately represented in the help and service industries and have been hardest hit by pandemic related layoffs. This post from Vicki Slomka, Global HR Lead at IDEAL Industries, made me smile. Tip of the hat as she reaches out to help others.
Somebody's daughter
Working in a family business in the traditionally male dominated roofing industry can be overwhelming. It helps if you have a father who opens the door and believes in you.
One of our own Next Gen Leadership Institute students, Sherri Miles, is featured in this podcast: "The Daughter Becomes the Boss". Check it out.
August 9th is National Book Lover's Day
One of the best ways to feel better is to read a book that takes you to a place you can’t travel to because of COVID. This week I started listening to Bill Bryson’s “Notes from a Small Island.” It will get you hyped to plan a trip to the UK and make you feel like you’ve been there. Perfect!
I have got to get out of here….
If we are still in our houses and practicing social distancing three months from now, it’s going to be a long winter. Take your cue from Shaun the Sheep and try something new with your family.
Andrew and I are thinking about you! Give us a call. Or write us a note and set up a time for a one-to-one. We are here for you.
