Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

Family Talk: How to Use Consistent Communication to Build a Healthy Family Business

Family Talk: How to Use Consistent Communication to Build a Healthy Family Business

FromConstruction Genius


Family Talk: How to Use Consistent Communication to Build a Healthy Family Business

FromConstruction Genius

ratings:
Length:
42 minutes
Released:
Aug 30, 2022
Format:
Podcast episode

Description

When you have a family-run construction business, passing it down to the next generation isn’t as easy as just giving them the keys.  There’s a lot of work you must do before passing your business down to the next generation. Otherwise, your business will crash and burn, you’ll destroy relationships within your family, or both.  That’s the bad news.  The good news?  In this episode, award-winning family business strategist and author, Nike Anani, joins me to reveal how you can pass down your business to the next generation (without wrecking your business or family).  Listen now.  Show highlights include:  The insidious way passing down your family-run construction business to the next generation can sabotage your family (and how to prevent this) (3:15)  How sharing your most humiliating business failures with the next generation ensures their success (6:33)  The “Lifetime Exercise” which prevents the next generation from making the same business mistakes you made (8:13)  How to make your children value money (even if they grew up wealthy compared to other kids) (11:00)  The weird way your business success may accidentally set your children up for failure (and why empathy is the antidote for this “glitch”) (12:28)  How to prepare the future generation to run your business by going on fun family retreats (22:03)  The best way to stop heated conflicts between family members from bursting out of control (29:17)  Why first generation business owners treat their business like their favorite kid (and how this poisons the second generation’s success) (30:36)  The “Three Circle Model” for passing down your business to the next generation without skipping a beat (35:24)  If you want a copy of Nike’s book, LIFETIME to Legacy: A New Vision for Multigenerational Family Businesses, you can order your copy by going to https://nikeanani.com/book/.
Released:
Aug 30, 2022
Format:
Podcast episode

Titles in the series (99)

Thomas Edison said, "Genius is 1% inspiration, 99% perspiration." This show interviews hard-working construction company owners and executives who share their wisdom, perspectives, and lessons learned from decades of experience bidding, planning, and building profitable projects. Topics include leadership, strategic planning, conflict resolution, niche identification, succession planning, talent management, business development, and business growth. Industry expert, Eric Anderton also shares his insights about how construction company owners can increase project profit by improving communication, running productive meetings, and attracting, developing, and retaining talented leaders. Tune in each week and get practical inspiration for how to build people, projects, and profits. "I know of no genius but the genius of hard work." John Ruskin