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The Family Biz Show: Daily Summaries Delivered
by Michael Palumbos
Join host Michael Palumbos and new guests every episode as they talk about everything from navigating family business transitions, wealth transition, business growth strategies, family conflict, leadership and team development and more. Don't forget to share your favorite episodes with others. Tag us with #thefamilybizshow! If you're a family business or a family business consultant and want to be on the show, share your story and help other family businesses, send us an email to producer@thefamilybizshow.com or visit us at The Family Biz Show | Family Business Podcast With Michael Palumbos (familywealthandlegacy.com) to fill out our web form! Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
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- Yesterday53 min
Cort Brazelton on How to Own a Family Business Without Having to Run It | The Family Biz Show Ep. 135
What if protecting your family business for the next generation means accepting that your family doesn't always have to run it? What if stepping out of the CEO role isn't giving up control—but becoming a better owner? "I want the business to stay in the family, but does that mean a family member has to lead it?" "How do we bring in outside executives without losing what makes our company ours?" "How do we prepare the next generation to become responsible owners—even if they never work in the business?" "How do we build something that can thrive long after today's leaders are gone?" This conversation gives you a different way to think about the answer. In this episode of The Family Business Show, Michael Palumbos talks with Cort Brazelton of Fall Creek Nursery, an Oregon-based family-owned blueberry genetics and nursery company with operations around the world. Cort and his sister returned to the family business in 2008 and helped transform it from a primarily Pacific Northwest company into an international organization. Since then, the business has grown more than 39X while remaining family-owned. But the bigger story isn't simply growth. It's how the Brazelton family learned to separate family, ownership, governance, and management—and why Cort ultimately stepped away from the CEO position while remaining an engaged owner. As Fall Creek strengthened its governance, the family began building a board primarily made up of independent, non-family directors. Being based in Oregon also gave them access to accomplished business leaders from the broader community surrounding major companies such as Nike and Intel—the caliber of people Cort once wondered would even be interested in joining the board of a family-owned company. Today, Fall Creek is led by professional, non-family executives. For Cort, that structure isn't about distancing the family from the company. It's about giving the business the leadership it needs while allowing the family to think like long-term owners and stewards. Cort shares how his family brought in outside advisors, strengthened independent governance, recruited leaders with capabilities beyond their own, and began preparing the third generation to become responsible shareholders rather than automatically assuming they should become executives. The lesson is simple but challenging: being born into the owning family does not automatically make someone the best person to lead the business. When you separate ownership from employment and executive leadership, you create room to ask a better question: What does the business actually need to thrive? You'll also hear why Cort believes family ownership can be a powerful advantage in an industry that requires investments measured in decades. Fall Creek's blueberry breeding work can take 15, 20, or even 30 years to produce results—making patient, generational thinking especially valuable. In This Episode, You'll Learn: Why owning a family business doesn't mean your family has to manage it How separating family, shareholder, board, and management roles can create greater clarity Why Fall Creek built a board primarily composed of independent, non-family directors How Oregon's business community, including talent associated with companies such as Nike and Intel, expanded the caliber of leaders Fall Creek could approach How Cort and his sister helped scale the business more than 39X after returning in 2008 Why bringing in professional leadership can strengthen rather than diminish family ownership How shareholder aspirations can give the board and management direction without family owners interfering in day-to-day decisions Why next-generation preparation should include learning how to become a responsible shareholder How long-term family ownership supports investments that may take decades to pay off Why stewardship means putting the needs of the business, employees, customers, and other stakeholders ahead of personal titles or ego From its roots in Oregon to nursery, R&D, and breeding operations across multiple countries, Fall Creek demonstrates another possible path for a family enterprise: keep the ownership, strengthen the governance, hire the leadership the business needs, and think in generations rather than quarters. If you're navigating succession, wondering whether the next generation should run the company, or trying to build a family business capable of thriving beyond any one leader, this episode offers a practical look at what long-term stewardship can mean.
- 2 weeks ago48 min
Cornell University's Smith Family Business Initiative and University of St. Thomas Family Business Center: A conversation with Dann Van Der Vliet and Jon Keimig. | The Family Biz Show Ep. 134
Where can family business owners turn when the hardest challenges aren't just about running the company—but navigating the family behind it? You don't have to figure out the complexities of family business alone. "Who can we talk to about the issues we can't discuss anywhere else?" "How do we start conversations about succession before it becomes urgent?" "How do we prepare the next generation without pushing them into the business?" "How can we make better decisions together as our family and business grow more complex?" "Everything is going well. Why should we start preparing now?" This conversation shows you where to start. In this episode of The Family Biz Show, Michael Palumbos sits down with Dann Van Der Vliet of Cornell University's Smith Family Business Initiative and Jon Keimig of the University of St. Thomas Family Business Center for an inside look at how university-based family business programs educate, connect, and support business families. While their programs operate differently, Dann and Jon share a common mission: helping family businesses navigate challenges that extend far beyond day-to-day operations. From educational programs and peer groups to research, community events, and opportunities for next-generation leaders, family business centers can give families something that is often difficult to find elsewhere—a trusted environment to ask questions, learn from other families, and have conversations they may have been avoiding. Dann Van Der Vliet has spent more than two decades working in family business education. At Cornell, he has helped build an ecosystem connecting students, alumni, family business owners, researchers, practitioners, and family office executives through education, outreach, and research. Jon Keimig leads the University of St. Thomas Family Business Center, whose roots date to 1991. His work is primarily community-facing, supporting family businesses through educational programming, peer groups, executive education, and opportunities for families to learn from one another. Together, they reveal an important truth: family business support is ultimately about people, relationships, and trust. Dann describes family business centers as being in the "trust business." Families often arrive believing they are the only ones dealing with difficult dynamics. Meeting other business families can change that perspective and create a safe environment for conversations that may not happen with an attorney, accountant, or even around the family table. And those conversations don't have to begin with complicated structures. Dann introduces the distinction between "little g governance" and "big G governance." Big G governance includes formal policies, bylaws, boards, and other structures. Little g governance can begin much more simply—with good communication. Sometimes that means sitting down with a parent and asking: What is your plan for me? Would you ever sell the business? What happens when you die? The questions may be uncomfortable, but starting these conversations early can prepare families for the decisions that become more complicated as the business grows and generations multiply. Dann and Jon also explain why the best time to prepare may be when everything is going well. Waiting for retirement, conflict, an unexpected death, a market disruption, or another crisis can make already difficult decisions even harder. Family business centers give families an opportunity to start learning and preparing before they reach that point. In This Episode, You'll Learn: Why family business centers can provide a trusted community for owners and families who feel isolated How Cornell University's family business initiative combines education, outreach, and research How the University of St. Thomas Family Business Center supports family businesses through community programming and peer learning Why trust is at the heart of effective family business education How "little g governance" can start with
- Aug 3, 202659 min
How ESOPs Help Family Business Owners Exit Without Losing Their Legacy | The Family Biz Show Ep. 40
What if you could step away from your family business without walking away from everything you've built? What if your exit strategy could protect your people, preserve your culture, and secure your legacy for generations to come? "I've spent decades building this business. How do I leave without losing it?" "I don't want to sell to a buyer who will change everything we've worked for." "Is there a way to retire while keeping our employees and company values intact?" "How do I create an exit plan that benefits both my family and my team?" This conversation gives you the answer. In this episode of The Family Biz Show, host Michael Palumbos sits down with Tracy Till, former Chairman and co-founder of Butler Till, and Rob Brown, a nationally recognized ESOP attorney, to explore how Employee Stock Ownership Plans (ESOPs) can provide an alternative path for family business owners preparing for succession or retirement. Rather than viewing an exit as the end of the business, they explain how an ESOP can become a strategy for preserving company culture, rewarding loyal employees, and creating a lasting legacy. The discussion also highlights why trust, leadership development, and intentional succession planning are essential long before ownership changes hands. Meet the Guests Tracy Till is the former Chairman and co-founder of Butler Till, the Rochester-based marketing and communications firm that successfully transitioned to 100% employee ownership. Today, she serves on corporate and nonprofit boards and helps private companies strengthen governance and strategic leadership. Rob Brown is a nationally recognized attorney focused exclusively on employee ownership and ESOPs. For decades, he has advised closely held and family-owned businesses on succession planning, ownership transitions, and ESOP implementation across the United States. Together, they share practical insights from both the legal and leadership perspectives of employee ownership. Why This Episode Matters This conversation goes beyond the technical aspects of ESOPs. You'll discover why the strongest succession plans begin with culture, how trust creates future leaders, why founders often struggle to let go, and what family business owners should consider before choosing an exit strategy. The episode also explores the financial advantages of ESOPs, the importance of independent boards, and why preserving a company's mission can be just as valuable as maximizing the sale price. In This Episode, You'll Learn: Why an ESOP may be the right exit strategy for preserving your family business legacy. How employee ownership can strengthen culture, retention, and long-term growth. Why trust and leadership development are critical before any ownership transition. How boards of directors help family businesses navigate succession and strategic growth. What founders should consider emotionally and financially before stepping away. How ESOPs compare with selling to outside buyers or strategic acquirers. Why protecting your people can become one of the greatest measures of business success. Whether you're beginning to think about succession, evaluating exit strategies, or looking for ways to preserve the values your family business was built on, this episode offers practical guidance and real-world experience from leaders who have successfully navigated the journey. Listen now and discover how thoughtful succession planning can help you exit your business without losing the legacy you've worked so hard to build. Learn more and explore more Family Biz Show episodes: https://www.familybusinessflywheel.com/podcast
- Jul 6, 202651 min
The #1 Mistake That Could Cost You MILLIONS When Selling Your Business | The Family Biz Show Ep. 133
Ready to sell your business? What if one mistake could cost you millions before negotiations even begin? "Am I really getting the best price?" "What if my business isn't worth what I think?" "Should I accept the first offer?" "How do buyers actually value my company?" "What if I'm not as prepared as I thought?" This conversation gives you the answer. In this episode of The Family Biz Show, Michael Palumbos sits down with Cameron Bishop, Partner and Managing Director at Raincatcher, to uncover the costly mistakes business owners make before selling their companies. From owner dependency and financial reporting to competitive bidding and succession planning, Cameron explains what buyers are really looking for—and why preparing years in advance can dramatically increase business value. With decades of experience leading acquisitions, integrating companies, and advising business owners through successful exits, Cameron shares practical insights from both the buyer's and seller's perspectives. One of the biggest revelations? Having one interested buyer doesn't necessarily mean you've received the best offer. Creating competition can dramatically change both valuation and deal terms. This episode is packed with practical advice to help you build a stronger, more valuable business—whether you're selling next year or a decade from now. In This Episode, You'll Learn: Why owner dependency reduces business value. How poor financial reporting can kill a deal. Why one buyer is rarely enough to determine your company's true market value. How investment bankers help maximize business value and negotiate stronger deals. Why exit planning should begin years before retirement. How to prepare emotionally for life after selling your business. If you want to protect your legacy, maximize your business value, and make smarter decisions before selling, this conversation is an essential resource. 🎧 Listen to more conversations that help family business owners grow, transition, and preserve their legacy: https://www.familybusinessflywheel.com/podcast
- May 14, 202655 min
Built To Last: Sustainable Success For Family-Owned Construction Businesses | The Family Biz Show Ep. 132
Growth can look like success from the outside. But inside a family-owned construction business, growth can also create pressure, confusion, and decisions the original business model was never designed to handle. "You built something successful, but why does it feel harder to run?" "Why is every decision still coming back to you?" "How do you pass the business forward without damaging the family?" "What happens when wealth grows faster than communication?" "Are your advisors solving separate problems, or helping you see the whole picture?" This conversation gives you the answer. In this episode, Michael Palumbos leads a powerful discussion on what it really takes to build sustainable success in family-owned construction businesses. The conversation explores why many construction companies outgrow the systems, leadership habits, and informal family assumptions that helped them succeed in the first place. You'll hear from Ricky Stellar, Roey Diefendorf, Jerry Aliberti, and Anthony DiTucci as they unpack the hidden pressures behind growth: owner dependency, unclear roles, siloed advisors, family expectations, succession tension, and the need for stronger governance. This is not just a conversation about revenue. It is a conversation about leadership, trust, communication, ownership, and the future of the family enterprise. Ricky Stellar brings the perspective of a wealth advisor helping families coordinate planning, ownership, taxes, and long-term financial decisions. Roey Diefendorf shares deep experience as a fourth-generation family business leader and advisor focused on preparing families, not just assets, for generational transition. Jerry Aliberti brings operational insight from his work with construction companies, helping leaders develop stronger teams, accountability systems, and scalable structures. Anthony DiTucci offers a practical view of what happens inside family-owned construction businesses when leadership, planning, and people systems are not clear enough to support the next stage of growth. At the heart of this episode is a simple but powerful idea: what got the business here may not be enough to carry it forward. The founder's hustle, instincts, and relationships may have built the company. But sustainable success requires a business that can operate through systems, leadership, communication, and shared alignment. You'll also hear why preparing heirs matters as much as preparing wealth, why the owner bottleneck can quietly limit growth, and why successful families need to coordinate the business, the wealth, and the family together. This episode gives you practical, real-world insight into how family-owned construction companies can move from reactive pressure to intentional planning. You'll learn how to spot the warning signs before they become crises, how to think about succession with more clarity, and how to build a company that can last beyond one person. In This Episode, You'll Learn: Why growth changes more than the business itself How the owner bottleneck limits sustainable construction business growth Why family-owned construction companies need clearer roles and stronger leadership systems How siloed advisors can create risk for successful business-owning families Why succession planning must address emotions, communication, and family expectations How preparing heirs helps protect both wealth and relationships Why governance matters for multi-generational family businesses <li data-section-id="115
- May 5, 202647 min
What Wealthy Parents Must Teach Their Children Early | The Family Biz Show Ep. 131
If you are raising children in a wealthy family, you may wonder how to give them opportunity without taking away their drive. This conversation helps you understand what children need to learn early so wealth becomes a source of responsibility, not entitlement. "I want my kids to appreciate what they have." "I don't want comfort to make them soft." "How do I talk about money without saying too much?" "How do I raise grounded children when life is already easier for them?" "What if I'm accidentally making things too easy?" This conversation gives you the answer. In this episode of The Family Biz Show, Michael Palumbos speaks with Jeff Savlov of Blum & Savlov about how wealthy parents and family business leaders can raise children with responsibility, gratitude, and character. Jeff explains that children can understand more than adults often assume, especially when parents use simple, age-appropriate stories to connect wealth with work, values, fairness, and purpose. Jeff Savlov is a family dynamics and family wealth coach who works with families navigating wealth, communication, parenting, and legacy. In this conversation, he shares practical examples of how parents can begin shaping a child's understanding of money long before trusts, inheritances, or financial statements enter the conversation. The core insight is simple but powerful: a parent's job is not to remove every challenge from a child's life. It is to give them the right amount of responsibility, struggle, and support so they can build resilience. When wealth makes life too easy, children can miss the everyday lessons that create confidence, accountability, and emotional maturity. You'll hear how small actions — cleaning up toys, caring for a plant, contributing to family chores, paying for part of a car, or understanding the story behind a family business — can teach children where money comes from and why responsibility matters. Jeff also shares a memorable example of how to explain family wealth to a young child through the story of a grandmother who built a cookie company from her kitchen. It is a clear reminder that children do not need complex financial details. They need stories that help them understand work, fairness, gratitude, and stewardship. In This Episode, You'll Learn: Why wealthy parents should start teaching responsibility earlier than they think How to explain family wealth to young children without overwhelming them Why making life too easy can weaken resilience and motivation How chores, small jobs, and everyday expectations build character Why children need to connect money with work, values, and gratitude How family business parents can enjoy wealth while still raising grounded kids Why parents must understand their own money stories before shaping the next generation How trusted relationships help children talk honestly about difficult topics Wealth does not have to create entitlement. With intention, honesty, and the right kind of challenge, parents can help children grow into grounded, capable, and responsible people who understand both the privilege and the purpose of what they have been given.
- Apr 20, 20261h 1m
The $84 Trillion Opportunity Most Family Businesses Are Missing | The Family Biz Show Ep. 130
In this episode, Richard Bryant, Dan Prisciotta, Shawn Barberis, and Dianna Parker join host Michael Palumbos to break down the $84 trillion generational wealth transfer and why most family business succession plans fail—not because of a lack of planning, but because leadership, ownership, and family dynamics aren't fully aligned. They explore what's really behind the phrase "we're not ready yet," how communication gaps and small disconnects build over time, and why even well-intentioned plans fall apart without coordination. The conversation also introduces the Family Business Flywheel, a framework for aligning strategy, leadership, and family dynamics into a system that supports long-term continuity. They also discuss the challenges of preparing the next generation, what happens when expectations don't match reality, and what family businesses can do now to create a more aligned and successful transition.
- Mar 30, 202657 min
The Family Business Problems Legacy Can Solve | The Family Biz Show Ep. 129
Most conversations about family business problems focus on what's broken—conflict between generations, lack of succession clarity, or stalled growth. But what if many family business problems aren't caused by dysfunction at all? What if they're caused by something far less obvious—and far more fixable? In this episode of The Family Biz Show, Michael Palumbos sits down with second-generation owner Ed Delia to explore a different lens: many family business problems are not operational failures. They are translation failures. They come from businesses that have built something meaningful over decades—but have never learned how to express that value in a way the market understands. This shift in perspective changes everything. The Hidden Nature of Family Business Problems One of the most important insights from this conversation is that family business problems often hide in plain sight. Leaders assume their challenges are tied to strategy, execution, or market conditions. But in many cases, the real issue is far more foundational. Family businesses frequently undersell themselves. They describe their legacy in ways that feel meaningful internally—but fail to build trust externally. Saying "we've been around since 1946" may feel like a strength. But to a modern buyer, it doesn't answer the only question that matters: Why should I trust you today? This is where many family business problems begin. Not because the business lacks capability—but because it lacks clarity in how that capability is communicated. Why Legacy Creates—and Solves—Family Business Problems Legacy is one of the most powerful assets a family enterprise has. It represents consistency, trust, relationships, and accumulated experience. Yet when poorly framed, that same legacy can become the source of family business problems. Ed shares a simple but powerful example. Instead of leading with how long a company has existed, he reframes the conversation around proof—what the company has actually done over time. In one case, a business shifted from saying "since 1946" to highlighting that it had produced over 24,000 custom components. That change transformed perception instantly. This is the paradox: legacy can either create family business problems or solve them—depending on how it is positioned. When legacy is translated into proof, it becomes a growth driver. When it remains abstract, it becomes invisible. The Real Gap Behind Family Business Problems As the conversation unfolds, a deeper pattern emerges. Many family business problems are not rooted in poor performance. They are rooted in a disconnect between how the business sees itself and how the market sees it. Inside the business, everything feels normal. Processes are routine. Capabilities are expected. Standards are simply "how we do things." But from the outside, those same behaviors often represent a significant competitive advantage. The problem is not that family businesses lack differentiation. The problem is that they fail to recognize—and articulate—it. This is why so many family business problems show up as stalled growth, missed opportunities, or difficulty attracting the next generation of customers. The value exists. It's just not being communicated effectively. The Role of Transition in Amplifying Family Business Problems Generational transition is one of the most critical moments in any family enterprise—and one of the most common times for family business problems to surface. As leadership changes, so does the environment around
About The Family Biz Show
Join host Michael Palumbos and new guests every episode as they talk about everything from navigating family business transitions, wealth transition, business growth strategies, family conflict, leadership and team development and more. Don't forget to share your favorite episodes with others. Tag us with #thefamilybizshow! If you're a family business or a family business consultant and want to be on the show, share your story and help other family businesses, send us an email to producer@thefamilybizshow.com or visit us at The Family Biz Show | Family Business Podcast With Michael Palumbos (familywealthandlegacy.com) to fill out our web form! Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
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