Steve Legler Blog
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Get updates and advice on how to improve, grow and maintain a strong and sustainable family business. Steve's website is geared towards families who are involved in the ownership and management of an operating business, so advice is aimed at this group of people.
Steve Legler Blog
6d ago
There Are Lots of Ways to Get Started
Over the years since I had my calling to do this work with families, I’ve sought out and even created peer groups where colleagues come together to discuss particular cases they’re involved with professionally.
The way that one family handles the work of transitioning their business or wealth to the next generation will differ markedly from the way another handles the process, for lots of good reasons.
As someone who advises families and helps guide the process, I can tell you that this is not something you can learn from a book.
When there’s a good deal o ..read more
Steve Legler Blog
1w ago
The Family Office Navigator
Let’s Talk Family Enterprise Podcast Episode #57
Host: Steve Legler
Guest: Peter Vogel
In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel’s recent book, Family Office Navigator. Together, they highlight the critical role advisors should play when business families consider setting up a family office or want to take a fresh look at what they currently have in place.
The post The Family Office Navigator appeared first on Shift your Family Business | Family Business and ..read more
Steve Legler Blog
2w ago
A Look Behind the Scenes
The work I do with enterprising families who are transitioning their wealth to the next generation revolves almost exclusively on guiding the process that they’re following.
Such families also need to work with a number of content specialists, of course, who provide them with important parts of the overall solution they’re looking for.
There’s a big contrast between providing content and guiding a process, and one of the keys is simply recognizing which one you’re doing at any given time.
But this week, we’re going to deviate quite a bit from the world of family trans ..read more
Steve Legler Blog
3w ago
Irrational Fear Gets in the Way of Progress
More often than not, families try to avoid conflict at all cost. For reasons that most of us can easily relate to, it makes sense to try to keep the peace with our relatives.
Unfortunately, especially in cases where we either work with family members or own things together, the fear of any conflict actually ends up making things worse instead of better.
I’m not advocating that you look for trouble and find things to fight about, far from it.
But, in many families, finding ways to get the positives out of differing viewpoints and priorities woul ..read more
Steve Legler Blog
1M ago
Letting Go Suddenly Can Be Difficult
As I was preparing for an upcoming meeting with a couple who have long been leading their family business, I imagined what subjects might arise during our time together.
At the very top of my list, based on some previous discussions I’d had with a some of their offspring a couple of years back, was the idea that at least one of them seemed very resistant to the prospect of “letting go” of their responsibilities in the company.
So I added the idea of switching one’s mindset from letting go to instead think about loosening one’s grip to my blog ideas folder ..read more
Steve Legler Blog
1M ago
Does My Title Leave You Disgruntled?
This week we’re looking at an important subject that relates to how we go about looking for and evaluating potential resources to work with.
OK, it’s actually all about people, and how we get to know them and decide if we want to work with them.
Long time readers know about my penchant for creating acronyms or mnemonics to remember things, and this one, “kilter” is a bit of a stretch, I’ll admit.
The fact that we typically talk about its opposite, i.e. “off kilter” or “out of kilter” reminded me of another common word whose opposite doesn’t really sound rig ..read more
Steve Legler Blog
1M ago
What Can a Leader Bring to a Meeting?
This week we’re going to be looking at meetings involving members of the same family, and the importance of leadership in the room.
This blog idea has its genesis in an online training session I was part of a few weeks ago, where the idea of “weather” was brought back into my memory.
Then, more recently, while taking part in an in-person session with a different group, my deck of cards idea received an enthusiastic reaction, which makes me want to share it here.
As luck would have it, in my imagination, there’s a way to bring both these ideas together, and ..read more
Steve Legler Blog
2M ago
So Many Families Think They’re Alone
Recently I realized that there’s something I do a lot of, which is telling families (and individual family members) that what they’re experiencing is not unique to them.
The best word to describe this is “normalizing”, and it’s really growing on me.
Despite the fact that the word is also used in the context of politics and the media’s role in it, it has a huge place in the kind of work I do on a regular basis when dealing with family enterprises.
This week we’ll look at what it is and why it’s prevalent in my work, and how it brings both comfort and c ..read more
Steve Legler Blog
2M ago
Co-Creating How You Will Be Together
Last week in Setting Expectations for Regular Meetings with Family, we ended up running out of racetrack just as I was getting to a key idea I wanted to share.
So because I enjoy having complete editorial licence over all my writing, I decided to kick this forward a week and address it here now, which will actually allow me to properly share it here in more detail than I would have as part of last week’s missive.
So much of what I write about here is borrowed, recycled, repurposed or re-shared from the work of other respected colleagues who work in this spa ..read more
Steve Legler Blog
2M ago
On Dealing with Criticism in Family Enterprise
This week we’re taking a bit of a different tack, and entering into some territory that’s relatively new for me.
I can’t even really say how this idea came onto my radar, except to say that it first arose a little over a month ago while I was on vacation in the Caribbean.
Perhaps a few days sitting on a beach created some new thinking.
It had been a few months since I last recalled hearing about the speech commonly known as “The Man in the Arena”, but something brought it front of mind for me in Antigua one day.
The gist of it that I recalle ..read more