Family Matters is a publication of the Delaware Valley Family Business Center February 2019

Leaning Into Crucial Conversations for the theme of our Learning Community Forums and Best Practice Events in 2019. Members of EVERY business family face heart-wrenching discussions—about family member performance (especially low performance or termination), promotions or lack of promotions, management succession, ownership succession, a change in strategy—you can easily add your own most vexing conversation which looms ahead. These issues, difficult and complex in any workplace, become exponentially more difficult when you are addressing a family member—a boss is your parent or a sibling, a person whose feelings and opinion you value, and who you’re also likely to frequently see outside of work. Business families face an extra layer of complexity when they work towards accountability; they feel this “double jeopardy” because the conversations could bruise, deeply harm or sometimes even end both family and business relationships.  Sometimes business families feel they are defective when they avoid, deny, delay and struggle with talking about crucial “family business stuff” with family members. Well, let me assure you; all families struggle with having these hard conversations.  Dicey conversations are part of the fabric of being in business with the people you love and spend weekends with. While we will always face challenging conversations in business—with customers, vendors, employees, and with family members who own and/or work in the business, we can learn to lean into these conversations with more clarity and confidence, which is best for the business and the family. Throughout the year we will share elements of our process, our practices, and real stories of how families lean into the necessary crucial conversations which lead to healthier family relationships and sustainable businesses. For more on “crucial conversations,” click here . Be assured, you are not alone. Our programs, peer groups, advisory services, and even social media posts will frequently hone in on best practices. We will share stories of success and failure, and, as always, practical guidance and tips you can use in your business today.  Please join me as we learn together!

Upcoming Educational Events

Friday, March 15 Family Business Mini-Conference Keynote: Leaving a Legacy of Meaning Amidst Love & Loss Bill Yoh, G3, Day & Zimmermann We kick off 2019 with our Family Business Mini-Conference featuring Keynote speaker Bill Yoh , executive and third-generation owner of Day & Zimmermann and author of the recently released Our Way . Bill will share some crucial conversations he and his family have had through the 5 MOUNTAIN™ model. He will describe successions through three generations and current planning for Generation 4. Join us to learn how Bill’s family created an enduring company culture where part of doing well is doing good in the community. The mini-conference will also include: TABLE TALK PRACTICE will give participants opportunities to respond to relevant and thought-provoking questions so they can learn from each other. A PANEL OF ADVISORS will offer their own stories and real-life experiences of crucial conversations as they have guided families. READ MORE/REGISTER

Thursday, May 16 Breakfast Forum Leadership Scar Tissue: From IBM to Family Business to Boards Featuring: Dave Griffith, Chair, Modern Concrete; Board Chair & Board Member of many family businesses Dave Griffith has had more than a few crucial conversations—a few with himself, at least two with his wife, and with many organizational and family leaders. Join us at the May 16 Breakfast Forum to learn from a seasoned leader who enjoys sharing his leadership scar tissue around family business governance, where relational and organizational complexity abounds. Dave will distill lessons learned from four decades of leadership hits and misses in family business, corporations both large and small, and non-profits. He is passionate about naming reality, finding the best talent, working hard at being a “best” listener, and spending your time in the most meaningful ways. READ MORE/REGISTER

Building High-Functioning Business Family Mitzi Perdue Brings Her Unique Perspective to Our Women in Family Business Lab

The Delaware Valley Family Business Center’s Women in Family Business Lab welcomes Mitzi Perdue as our February guest speaker. Mitzi has been part of several major family businesses. She started the family wine grape business, which is now one of the biggest wine grape suppliers in California. She is also the daughter of one family business giant (her father co-founded the Sheraton Hotel chain) and married another (her late husband was poultry business king Frank Perdue). Mitzi will share her experiences and her deeply-held premise that happy, high- functioning business families rarely happen by accident; they happen by design and intention. The DVFBC Women in Family Business Lab, Leading Generation Lab, and Rising Generation sometimes host engaging experts and always provide a place to learn from others on a similar journey about navigating the everyday complexities of family business. Learn more about our Leadership Labs here .

DVFBC Takes on the Challenge During Teambuilding Day

On February 4, the DVFBC Team enjoyed a delicious lunch at nearby Northbound in Souderton, building “team muscle” through laughter and catching up. After a brisk walk to Play It Out , they were victorious in the escape room challenge in 47 minutes, with 13 minutes remaining! The gamemaster was impressed with the team’s compatibility and collaborative team work.

Appreciation for Our Educational Sponsors

Special welcome to Kreischer Miller who is rejoining as an EDU Sponsor! Many of you know Mario Vicari as Kreischer Miller was a sponsor from 2003 to 2012. Kreischer Miller is a family-friendly independent accounting, tax, and business advisory firm that serves hundreds of family businesses in the Greater Philadelphia area and beyond.

We are grateful to our EDU Sponsors who share our commitment to education and provide our member and client families with a wealth of knowledge. Without their generosity and expertise, our events would not be possible.