David Bentall on Navigating Ties in Family Business

EP 259 - David is the founder of Next Step Advisors, a
consultancy for family businesses helping them avoid the
potential pitfalls of working with your closest relatives.


David chats about his experiences running his family's companies,
for all of their successes and failures, which spawned the idea
for Next Step Advisors. Andy get's in on the act, speaking
frankly about his experiences growing up as part of Oury Clark:
the struggles, expectations, mistakes and lessons learnt. There
may be some oversharing.


David also tells us why he thinks companies who don't give back
to their communities qualify for the big bin of bullshit.


Chapters:


00:00 Welcome to BWB


00:37 David's Journey in Family Business


01:38 Challenges of Working with Family


01:53 Dynamics of Sibling Relationships in Business


03:05 Importance of Space and Baggage in Family Business


04:48 Impact of Different Visions in Family Business


07:13 Communication and Board in Family Business


13:13 The Power of Family Businesses


16:22 Career Development in Family Business


20:13 Mistakes and Lessons in Family Business


25:33 The Problem with Family Businesses


26:34 Resistance to Change in Family Enterprises


27:03 The Role of Independent Board Members


27:43 The Struggle of Succession


27:57 The Importance of External Experience


33:54 The Challenges of Decision Making


34:15 Non-Family Members in Family Businesses


35:32 The Importance of Integrity in Business


38:06 The Need for Philanthropy in Family Businesses


47:52 The Power of Gratitude and Resilience


David's recommendations:


1000 Gifts - Ann Voskamp (book)


Unbroken (film)


Against All Hope - Armando Valladares (book)


businesswithoutbullshit.me


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BWB is powered by Oury Clark