Systems for Success

36. How Success is Achieved in NextGen Leaders with David Bentall

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 family, and the owner who sold his shares then worked for the next family. So if you too want to build a business set to last for generations after you, this episode is perfect for you! Listen as we draw out David's experience as a NextGen leader on: * Choosing mentors and heroes that effectively inspire and guide family business leaders. * Developing emotional intelligence in next-gen family leaders. * Fostering the 9 family leadership traits that next-gen leaders need to create and sustain success. * Implementing effective communication and decision-making processes in the family. * Creating career, personal and professional development pathways. Episode Highlights: * David’s personal experience with next-generation succession. * How David transitioned into helping other families with their business. * The importance of emotional intelligence and how to develop that into the next generation. * David’s life lessons for future successors of their family’s business. * David's definition of governance and why it's so important for business families. * What role faith played in building Davids company * What David learned about managing expectations Thank you! Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page.   We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! * Subscribe [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] to the Systems for Success Podcast on IOS or Apple Itunes. * Subscribe [http://systemsforsuccess.podbean.com/] to the Systems for Success Podcast on Android or Windows OS. * Follow Systems for Success on Instagram @systemsforsuccess [https://www.instagram.com/systemsforsuccess/] * Follow Lonnie Gienger on Instagram @lonniegienger [https://www.instagram.com/lonniegienger/]

35. Building Your Family’s Relational Bank Account with Tim & Michelle Seneff

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 worked up through the ranks of the private investment firm his father started. He eventually becomes President of CNL Financial Group which has formed or acquired companies with assets of over $25 billion. But everything started to change when a significant health crisis shifted his perspective and the focus he wanted for his wife and five kids. This forced them to grapple with two critical questions: What happens when the personal priorities of the next generation change or differ from the prior generation?  How do you balance the priorities of work and family when you’re a part of a family business? Episode Highlights: * How wealth and success can create lubrication for life that causes you to miss working on the hard stuff internally and in relationships. * The pressure of wearing the family name or business name on your jersey every day. * The value of crisis to reshape your perspective. * The importance of having healthy feedback circles that call you on your stuff. * Learning to enjoy the journey on a slower road where the people you love are with you. * How to succeed as the second generation in the family business. * Honoring prior generations (even when they make mistakes) while creating a culture of grace and truth and love. Thinking about what grace may I want my kids to give me when I'm older. * How to be ready for major resets in life (e.g. relational fractures, divorce, or death in the family) * Finding the balance between truth and love. Pressing onto peace instead of conflict. * Leading with humility and diplomacy. * Doing the deep work of knowing who you are and who you aren't. * Families that play together, stay together. * Wearing the right hand with each of your children based on the phase of life they are in. * Creating a multigenerational mindset in your children through values transfer and storytelling. * How divorce impacts adult next-gen and sibling relationships. * The value of seeking personal counseling especially when not in crisis mode. * Prioritizing your personal family over your family of origin while still loving your extended family well. * Moving from predictable and controlled life to a position of risky adventure taking. * The thrill and risk of measuring financial success are based on how much you give to others. * Know the truth you believe, not just based on the truth your family believes. * Shifting manhood identity to my pursuit of your wife and her heart instead of an identity based on achievement at work. * Helping your kids develop the stewardship and entrepreneurship mindset especially when they are raised in affluence. * Why it's valuable for your children to have failure being an option. * Importance of not pushing the next-gen into your family business or into leadership roles too fast. Thank you! Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page.   We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! * Subscribe [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] to the Systems for Success Podcast on IOS or Apple Itunes. * Subscribe [http://systemsforsuccess.podbean.com/] to the Systems for Success Podcast on Android or Windows OS. * Follow Systems for Success on Instagram @systemsforsuccess [https://www.instagram.com/systemsforsuccess/] * Follow Lonnie Gienger on Instagram @lonniegienger [https://www.instagram.com/lonniegienger/]

34. What 2020 Taught Us | A Family Round Table

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 have found my footing. I'm proud of us and proud of me. I love what we've created in our little family, how we see the world, the joy that keeps us going. We look for beauty. We are able to be flexible. We grieve and grow, but we don't stay low. We rest and we go. We create the experiences and work towards the attitudes we want to keep, that serve our lives. We are certain of our foundation, the solid rock. He is unshakable and has proven such more than ever this year. We know we will prevail because He prevails. We've established kingdom culture in our home more deeply than ever before. We're confident in His goodness! Episode Highlights: * Key learnings from our family that can help you this year and beyond * The power of focusing on gratitude * How to use “effective blaming” to turn every challenge into a benefit * The value of continual learning to take your leadership effectiveness to the next level * How to create a 10 year vision for your business or family and the steps to make that vision become reality * Keys to building abundant relationships * Finding the one thing you can do that will make everything else unnecessary or irrelevant * The power of going towards what you’ve been avoiding and pursuing the unknown * Learning to turn inconvenient moments into beautiful, life enriching memories * How disruption helps us experience and embrace what matters most Thank you Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page.   We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! * Subscribe [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] to the Systems for Success Podcast on IOS or Apple Itunes. * Subscribe [http://systemsforsuccess.podbean.com/] to the Systems for Success Podcast on Android or Windows OS. * Enter your email in one of the email opt-ins on this site for regular emails from Lonnie Gienger or the Gienger Family on additional Systems for Success. * Follow Systems for Success on Instagram @systemsforsuccess [https://www.instagram.com/systemsforsuccess/] * Follow Lonnie Gienger on Instagram @lonniegienger [https://www.instagram.com/lonniegienger/]

33. Build and Keep Success for 120 Years

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 empowered to design their own destiny, building on the strengths and values of the prior generations. * They value family unity and affirm each family member, but don’t endorse behavior contrary to family values. * They intentionally nurture good relationships amongst all members of the family, regardless of differences. * They make sure spouses of family members, and adopted children, feel like family by blood. How to Develop the Traits of a Successful Multigenerational Generation Family? * They  know the  family  story. They  know  who  they  are.  Capture  and  tell  the family story through interviewing family members. Provide easy access to videos and written content telling the family story. Ask questions such as, “How did our great grandfather start the business?" Don’t tell only the hero stories. Tell the whole story, warts and all, to communicate that success is possible even with struggles and imperfection. * They are clear on their values and live them out. Discover through stories how the family’s values came about. What values drove the family to believe in their ability to create something worthwhile? What anchored them, keeping them from being destroyed when the storms came? Retell the stories over and over and over to reinforce the values. * They understand trust is important within the family, and reinforce that through words and actions. Seek to know the expectations  of  family members  and consider how those expectations can be incorporated into how the family lives out their values. Make it clear if it isn’t possible to include certain expectations within how the family interacts and deploys their resources. * They are clear on the direction they want to go as a family and move in that direction. They establish a family compass - mission, vision, purpose, values. This provides direction. Then they frequently reassess, how are we doing related to our family compass? Where do we need to make course corrections? * Each successive generation is empowered to design their own destiny, building on the strengths and values of the prior generations. They engage in open communication about honoring differing values and priorities amongst immediate family sub-units, while being respectful of the larger family's values. * They value family unity and affirm each family member, but don’t endorse behavior contrary to family values. They are clear about family values but recognize not everyone in the family will enthusiastically endorse all of the family values. With love they affirm each family member, while not endorsing behavior that goes against family values. * They intentionally nurture good relationships amongst all members of the family, regardless of differences. They look for ways to connect and enjoy being together. If there is not a good relationship with adult children, they look for and act on ways to rebuild the relationship. They are persistent until the relationship is restored, no matter how long it takes. * They make sure spouses of family members, and adopted children, feel like family by blood. They embrace family unity and affirm everyone, making sure to include spouses of family members, and those who are adopted, in all gatherings and family discussions. Other Pivotal Family and Business Principles Discussed: * How to make sure company and family values are not just marketing statements but are used as guiding accountability for the family and the business. * How to make sure the direction you set on paper show up in the decisions and actions of the family and the business? * How to keep the extended family pulling together for the good of everyone over multiple generations. * How to handle family shareholders who cause disunity in the business or the family. * How to remove family shareholders or terminate family employees and still maintain relationships. * How to make sure your family business is headed in the right direction to get to the desired destination over multiple generations. * How to educate all family members and shareholders about the family business by telling stories…warts and all… not just the hero stories. * Defining responsibilities and communication lines between the owners group, family members the shareholders group and the board. * Using a balanced scorecard that measures financial results, shareholder satisfaction, risk tolerance and stewardship of family values. * How to build legacy with divorced parents. * Don’t focus on the dirty laundry. Instead focus on the story you want your grand kids to know about.  Start where you are and create a new branch in the family tree.  Take the long view and determine what you can do today that could positively influence your generations 20 years from now. * How to integrate next gen spouses in family business and legacy processes. * Empowering each generation to be architects of their own destiny while at the same time building on the values of the prior generation. * How to transfer stories, principles and values to next generations. * Developing family traditions and routines that make the family and its values attractional to future generations. Thank you Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page.   We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read each and every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! * Subscribe [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] to the Systems for Success Podcast on IOS or Apple Itunes. * Subscribe [http://systemsforsuccess.podbean.com/] to the Systems for Success Podcast on Android or Windows OS. * Enter your email in one of the email opt-ins on this site for regular emails from Lonnie Gienger or the Gienger Family on additional Systems for Success. * Follow Systems for Success on Instagram @systemsforsuccess [https://www.instagram.com/systemsforsuccess/] * Follow Lonnie Gienger on Instagram @lonniegienger [https://www.instagram.com/lonniegienger/]

32. 280 Years of Family Legacy Learnings in One Hour with Mitzi Perdue

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 countries. You’ll be captivated by Mitzi’s genuine passion to share practical tips and tools that have helped her two long-running families flourish together for more than seven generations. “When family members love, support, and encourage each other, there is a flourishing of the human soul that is incomparable.” — Mitzi Perdue Episode Highlights: * Developing family traditions and gatherings that keep the family together over many generations * The value and process for truly getting to know and understand family members * Creating a system to ensure the family continues to meet and keep in touch on a regular basis over the generations * Instilling family activities and awards that build and reinforce family values * How to leverage philanthropy to reinforce family culture and build relationships * How to leave the legacy of a “recipe for living” * Reinforcing generational values and learnings through creative forms of autobiographies * The value of developing an ethical will * How to transfer a family value like frugality to the younger generation * What does a high-functioning family look like and what is most likely to create this type of family * How to educate the next generation of leaders * How to generate happiness and build on the strengths of prior generations * The importance of intentionality in creating family culture * How to deal with family conflict: Perdue’s covenant and Henderson’s “we don’t wash our dirty linens in public” * How to be up in down times To find more gems of wisdom from Mitzi, go to www.mitziperdue.com [http://www.mitziperdue.com] or get her books on Amazon. Thank you Thanks again for listening to the show! If it has helped you in any way, please share it using the social media buttons you see on the page.   We’d also really appreciate any feedback or questions that might guide what we talk about in future episodes. Additionally, reviews for the podcast on iTunes [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] are extremely helpful and greatly appreciated! They do matter in the rankings of the show and we read each and every one of them. JOIN THE SYSTEMS FOR SUCCESS COMMUNITY! * Subscribe [https://itunes.apple.com/us/podcast/systems-for-success/id1335016586?mt=2] to the Systems for Success Podcast on IOS or Apple Itunes. * Subscribe [http://systemsforsuccess.podbean.com/] to the Systems for Success Podcast on Android or Windows OS. * Enter your email in one of the email opt-ins on this site for regular emails from Lonnie Gienger or the Gienger Family on additional Systems for Success. * Follow Systems for Success on Instagram @systemsforsuccess [https://www.instagram.com/systemsforsuccess/] * Follow Lonnie Gienger on Instagram @lonniegienger [https://www.instagram.com/lonniegienger/]