My Life as a Big Brother

I was recently honored as the National Big Brother of the Year at the Big Brothers Big Sisters National Conference in Dallas. It was exciting, rewarding and uplifting and I am deeply humbled by this recognition. At age 81 I feel like I am finally understanding the true meaning of living—to give of ourselves and serve others. This was evident throughout the entire event and served as a wonderful reminder of how Big Brothers Big Sisters is transforming lives, and inspired me to reflect on the importance of family that may not always be blood related.

What might seem like an unlikely pair (me, an 81-year-old businessman and Joseph, a 13-year-old kid from East Los Angeles), Joseph and I immediately hit it off and have been close friends for four years now. In my role as Big Brother, I’ve been shedding light on the opportunities that are available to him if he does well in school and steers clear of the potentially harmful nature his neighborhood facilitates. I’m happy to say that, after a visit to CSUF’s campus and with a little direction from me, Joseph is determined to go to college and has even started a college savings fund.

Being Joseph’s big brother has re-energized me and opened my eyes to new ways of thinking about advising family businesses. Mentoring Joseph goes hand-in-hand with mentoring family businesses; I offer my experience and knowledge to help guide others down a successful path. I hope to help achieve success for every family-owned business I know and if mentoring Joseph is a testament to my hard work and dedication then I must be doing something right.

Being a mentor often means just showing up. Investing my time with Joseph, my own family and the family-owned businesses I work with has become the driving force behind my life’s mission. My goal is to make an impact and a life-changing imprint that will spark change and at the end of the day be a vehicle to enable Joseph to fulfill his purpose, inspire my family to pursue their passion and help companies become more profitable.

Read more here!

Guest Blog by Garry Ridge, President of WD-40

We All Have Something Significant Yet To Do!!

I’ve always had a strong thirst for knowledge, especially when it comes to methods for creating a successful work environment. For me, the value of learning from my triumphs and tribulations is translated into my ability to share what I’ve experienced with others, empowering them to become stronger leaders. Serving as the head of a company and family simultaneously can add extra challenges and difficulties, reinforcing the necessity of refining our skills to combat challenges and achieve success. Here is my advice for leaders.

• Do what you say you’re going to do. Organizations don’t pay much attention to what we say; organizations pay intense attention to what we do and the examples we set, particularly if the actions are inconsistent with the words. Any inconsistency is corrosive. I hear what you say; I read what you write; I believe what you do.

• Be competent and act with integrity. (I mean integrity in the broadest sense of the word to include team play and respect shown to subordinates.)

• Have high self-esteem/self-worth. Having a strong sense of self-worth allows leaders to accept failures and criticism without being so egotistical and hubristic that they are not open to others’ opinions. I’ve heard it said that good leaders’ levels of self-confidence are slightly higher than what is justified by the facts, but that’s what keeps them confident in adverse situations.

• Move forward. Good leaders are not afraid to act with a sense of urgency. They pay attention to the details (not by micromanaging but by taking the occasional deep dive to test what they’re hearing).

• Good judgment comes from healthy learning moments. Leaders exercise good judgment, which is usually a result of learning from mistakes. Successes normally don’t bring with them the introspection that mistakes do. Good judgment comes from experience—good and bad.

• Be connected, aware, and always tuned in. Leaders are particularly tuned in to the people around them and to subtle behavioral clues. They can read a room well, listen well, and have a high EQ! (This is akin to a good sixth sense about how to act in foreign cultures.)

• Value the gift of contrarians and resistors. Good leaders don’t like yes men and sycophants. They are not afraid of surrounding themselves with strong people.

• Be a leader of hope. Leaders of hope have a philosophy of “this too will pass”. They maintain their people’s passion, exercise patience against panic, and cultivate a sense of calm.

• Involve the people. The best ideas and greatest support will come when people are involved and contributing. In the end, every decision will be made by you, the leader, and an informed decision means keeping your team involved.

• Always stay in servant leadership mode. Remember leaders are there to serve: the shepherd is there on behalf of the sheep, not the other way around.

• Practice these good leadership traits with modesty—note that when carried to excess, these qualities can be fatal to your role as leader.

May you always find new roads to travel, new horizons to explore, and new dreams to call your own. Life is about memories, so as a leader make new positive memories. Lastly, my final reflection on being a leader is to believe in yourself, never give up and take one day at a time.

Is There A Science of Family Business?

Using a scientific approach to understand a complex system can be very helpful—and what could be more complex than a family business? Have you ever considered taking a microscope to your family business? Chemistry maybe but how does that translate to family-owned businesses? Measuring the elements of running a family business in a graduated cylinder and mixing them in test tubes sounds like a clinical approach to a business practice…OK, that might be a little elaborate, but thousands of researchers around the world are collecting and analyzing scientific data to uncover the nuances of family business—and have been for 25 years—including Family Business Council advisors. What have they discovered?

The FBC’s most recent workshop, “The Science of Family Business,” led by the renowned Dr. Schwarz, the Rick Muth Endowed Chair of Family Business at Mihaylo College for the Family Business Council, revealed the findings of this research explaining how family business consultants can be translators of this intricate science.

Dr. Schwarz offered this scientific procedure when tackling new issues or situations:

1. Know thyself
2. Learn what is known already
3. Customize it for your business
4. Experiment
5. Monitor
6. Adapt
7. Do it again under framework of life cycles

At the Family Business Council, our advisors break down the abundant research findings and apply them to your specific needs. The FBC is fully equipped with resources that offer insight into the ins and outs of running a successful family business, just check out our library or stop by to speak to one of our advisors!

Planning for the Inevitable

How much time did you spend developing a plan to launch your business? Did you consider all the ways to market, leverage and grow your business from the ground up? Did you assess the risks and develop plans for multiple scenarios? I’m willing to bet you did.

Now, how much time have you spent developing a succession plan?

What would happen to your company if you disappeared tomorrow—and keep this reality in mind: almost half of family-business closures are a direct result of the founder’s often unexpected death. Planning for the inevitable is the key to sustaining your family business and continuing the legacy that was started.
These types of contingency plans are critical to the continuation of the family business despite the inevitable circumstances may come. Research shows that families whom have developed a long-term plan with definitive goals manage the challenge of generational transition with much greater success. To do this, 1) Have a plan, 2) Define the parameters, and 3) Don’t leave anything up to chance.

1) Have a plan:
One third of family-owned businesses have a seamless succession to the next generation. In order to be in the successful percentage, plan ahead to alleviate any future family squabbles that would inhibit the business from moving forward.

2) Define the parameters:
Set clear guidelines as to what is expected of your successor and enable him or her to assume some of the responsibilities you face in your current role. What are the experience/educational requirements for family members to join the business? Keep your management in the loop and define their roles under new leadership.

3) Don’t leave anything up to chance:
Just like when you developed a business plan, you need to develop an in-depth exit strategy to give your business and family the best chance at a successful leadership transition.

One of the most valuable parts of being involved with the Family Business Council’s an open forum to discuss common issues in owning your own business. Consultants are expensive, so save some money and consider becoming a member of FBC to learn from experienced owners that know and live the issues you are facing. The only way to get answers is to ask questions, so feel free to inquire right here!

Family Matters

Do you remember Steve Urkel, the nerdy neighbor who’s nasally voice asked repeatedly, “Did I do thaaaaaat?” If you’re scratching your head, let me give you another hint, he was the breakout character for the second-longest running sitcom with a predominately African-American cast in the 1990s. What show is this? You guessed it…Family Matters. Coincidentally, my daughter worked on this hit sitcom, and I now work closely with families, so the title, Family Matters, seems fitting.

I’m Mike Trueblood, and I have been helping family-owned businesses for over a decade.     When not on the golf course, you can find me in my director’s chair — the Director of the Family Business Council. Born in South Dakota, my sisters and I owned and operated a family farm in Iowa before I got my hands dirty in the advertising and marketing fields. Prior to coming on board with the Family Business Council, I was employed as an adjunct professor at USC, UCLA, and Loyola Marymount. When I came to Cal State Fullerton to teach, I jumped at the opportunity to work closely with family-owned businesses and have never looked back.

Nothing is more important than family, and I should know since I have four children and twelve grandchildren! My wife, Phyllis, and I have been married for over 50 years and live in La Canada where we stay active playing tennis. When we aren’t spending time with our brood of children and grandchildren, we are investing time in the community. Recently, I received the honor of being named Big Brother of the Year by the Catholic Big Brothers of Los Angeles, an organization that is close to my heart. I think every moment is an opportunity to make an impact and that is why my role in this organization and the FBC is so important to me.

We call this blog Family Matters simply because it does. We have been providing family-owned businesses with a wealth of information—workshops, seminars, advice and assistance—for over 15 years. We are proud of our role, serving as a valuable resource to help family businesses address the many issues they face every day so they not only survive but thrive. Family Business Council is part of Mihaylo College of Business and Economics at Cal State Fullerton.  You can find me most weekdays in Mihaylo Hall.