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SFTU versus STFU

Fake Dictionary, Dictionary definition of the word understand.

The year 1989 was an important one for me, as it was the year that I quit smoking, and more importantly also the year that I first met my wife. If you ask her, had I not quit smoking, I would not be her husband today.

But 1989 was also the year that one of the most important books of the last 50 years came out, and I am sure that most of you will recognize it, and many of you will have read it as well.

I not only read The 7 Habits of Highly Effective People, but a few of those habits have become cornerstones of how I have tried to live my life ever since. I hope that this will not lead to an analysis of just how effective I have been, but I do want to share with you my favourite habit of the seven.

Now there are a couple of the habits that are more easily recalled than my favourite, because they have become part of our vocabulary, partly thanks to the success of the book, which sold over 25 million copies.

“Think Win-Win” and “Be Proactive” have become sayings that most people will have heard before, and “Put First Things First”, and “Synergize” are also kind of cool, but still not number one on my list.

Is it “Sharpen the Saw”, or “Begin with the End in Mind”? No, but I like those too. My favourite is habit number 5, “Seek First to Understand, and Then to Be Understood”.

I like to abbreviate things, so I will just call it Seek First to Understand, or SFTU. The first time that I jotted it down using just those four letters, I was struck by how closely it resembles another 4-letter acronym, STFU. For the uninitiated, STFU is short for “Shut the Hell Up”, or something close to that.

The reason that I found this so relevant is that STFU is actually almost the exact opposite of SFTU, especially in the arena of family business and family leadership.

The old fashioned, autocratic parenting style that many of us boomers lived through was very much “this is how things are going to be”, and if anyone dared to question Dad, we were often told, essentially, to STFU, and get in line.

Nowadays, thanks in some small part to the popularity of Covey’s book but also in large part to societal changes, people have mellowed somewhat, and active listening is actually something that many leaders are taught to do.

But Seek First to Understand is not just about listening, of course. Yes, you often need to listen, and watch and read, and interpret, but the goal here is understanding.

And please note that the habit is not called “Seek to Understand”, but Seek FIRST to understand.

That little nuance is the key, because that is where the leader needs to have the maturity to admit that they do not necessarily have all of the answers, that they have the curiosity to learn about the ideas and opinions of others, and have the courage to ask and listen to what others have to say.

Those who advise families in business who are hoping to transition their business, their wealth, and ultimately their legacy to the next generation will almost all agree that clear, frequent and open communication is an absolute necessity if you want to have any chance of success in this endeavour.

Obviously, I agree. The point of this blog is to remind people that good communication is predicated on the people communicating having the right attitude so that a true exchange of ideas can be had.

I love the old quote attributed to George Bernard Shaw, “The biggest problem with communication is the illusion that it occurred”. People assume that because they said something, the other person heard and understood them. They often go even one step further and assume that the person agreed!

Please try to Seek First to Understand, and Then to Be Understood. It will be well worth it. It is a habit, so that means that it can be learned.

And it sure beats the hell out of STFU!

 

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Simplifying Complexity and Ethical Wills

Writing Last Will and Testament. Closeup shot

A few weeks ago I came across a blog post by the Blunt Bean Counter on Ethical Wills that I liked, and I encourage anyone interested in this subject to check it out. Perhaps I can whet your appetite with my take on the subject here.

The man behind the blog and the website is Mark Goodfield, who is an accountant from Toronto. I would not necessarily call him an old friend of mine, but we did meet professionally last summer at a BDO SuccessCare course, “The Role of the Most Trusted Advisor”.

We spoke about blogging one day at lunch, and it was thanks to some of his comments that I undertook a rebranding and reworking of my online presence, for which the feedback I have been receiving from some of you has been gratifying.

An ethical will is essentially a letter that you write to your loved ones, outlining your wishes, which they can refer to and reread after you have passed away.

As Mark so nicely states, some examples of what people convey in an ethical will include:

  1. Your values
  1. Your hopes for your family
  1. An explanation of decisions made in your will
  1. Providing or asking for forgiveness

This is one of those ideas that seems to make so much sense to me, but that for many reasons is not as easy a sell as it appears on the surface.

It reminds me of Tom Deans’ great book, Willing Wisdom, in which he implores people to share the contents of their will with their beneficiaries. I get it, I love the idea, I encourage people to do so as well, but at the same time, I also know that he gets a whole heck of a lot of pushback whenever he gives a speech about the subject.

Now the title of this post mentions simplifying complexity, and that is where I want to go now, so please join me. This was its own separate blog post idea, but I often need to combine ideas because I seem to get way more than 52 ideas a year, and I vowed to keep these to once a week.

Whenever someone dies, the remaining family members are left to sort things out and move on. We have all heard stories about people who died without a will, or before ever having taken the time to put their proverbial affairs in order.

Let’s call that one “Simple Life, Complex Death”.

There is an alternative, but it takes some work, some foresight, and some courage. It’s all about doing the complex work up front, while you are still alive and of sound mind.

If you are willing to share the information about your decisions with your loved ones, you can make things as complex as you like. You do the hard work yourself, and then when you are gone, everything will be so much simpler for your family.

My father liked complexity more than most. He bought a farm as a retirement project, then bought more land from neighbours over time. When he was diagnosed with cancer, I feared that I would be stuck with the task of disposing of all these different acreages.

One of the greatest gifts he ever gave me was the fact that he sold the farm, in no less than four separate transactions to four different buyers before he died. All I had to do was go to the notary’s office four times to sign the papers and pick up the cheques.

But of course before doing any of that, we had a family meeting, during which we discussed whether or not we wanted to keep the farm in the family.

We knew what he wanted us to do after he died, because the day of his diagnosis, he went home and hand wrote a multipage letter to us, which I later dubbed his “manifesto”.

Little did I know it at the time, it was his Ethical Will.

During subsequent family meetings, we have referred to it often, mostly early on, less so now.

With Father’s Day around the corner, I wanted to say, “Thanks again Dad”.

 

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When your Greatest Desire is also your Greatest Fear

This week I was privileged to be invited to a lunchtime speech by David Lansky of the Family Business Consulting Group. Lansky is based in Chicago, but being a Montreal native, the good folks at Pembroke Private Wealth Management invited him to speak to their clients in Montreal and Toronto.

His presentation was entitled “Family Wealth Continuity”, and I went into it fully expecting to nod my head up and down throughout, and he did not disappoint. I am not a big “note taker” when I attend presentations, preferring to be fully attentive lest I miss something while I am jotting stuff down.

Occasionally though, someone will say something that I just have to write down, and then it almost always gets turned into a blog post.

So here is, from page 10 of his Powerpoint deck:

“What benefactors most want…they also most fear.”

Wow. I had never heard anyone put it that way. Let’s walk our way through this a bit.

People work hard to create wealth for their family. We all know many families who have done an extraordinary job of doing just that. We don’t often ask them why, because the answer seems so obvious.

They work for their wealth so that their family can be happy, have nice things, live in a safe place, go to nice places, have access to great healthcare, and lots of smiliar reasons.

They want their children to have a great life, and very often they don’t want their kids to have to work as hard as they did.

So far, so good. Somewhere along the way, though, especially in families who have done a really good job of creating more wealth than they could ever use in several lifetimes, some doubts creep in, and these parents start too worry about leaving their kids too much money

This brings back a memory of a great quote I recall from a CAFÉ Symposium a couple of years ago. Mike “Pinball” Clemons, a CFL Hall of Famer and winner of Grey Cups as both a player and head coach said, “Make sure that your family members are the beneficiaries of your family business, NOT its victims”.

Sometimes there is “too much wealth”, sometimes there are disputes between family members, sometimes both of these things are present, along with a host of other complicating factors.

Unfortunately, the fact that wealth can be a blessing or a curse will always be with us.

I have been running several questions through a model that I am working on to help explain and simplify things, and its basic elements are What, Why and How.

Allow me to try to demonstrate not only my thoughts on this important topic, but also use the three-stage model.

We start by looking at the What, i.e. what we are trying to do, in simple terms. We are trying to pass our wealth down to our children.

Now, we need to step back and ask ourselves Why we want to do this. So we talk about the things I mentioned off the top, having nice things, living in a nice place, making sure our kids don’t have to worry about money, etc.

Now comes the hard part, the How. At this point we have to look into the future and step forward and figure out all of the details around How we can do What we want to do, and have these details be aligned with the Why we want to do them.

My main point is that families can and do pass wealth down to their children without the fear that other families experience.

The major difference with the families who do that well and many others is that they are very careful with the How, and they take the time to talk with the entire family about the What, and the Why, and the How.

It is not always easy to have these critical conversations, but having them is what separates the successful families from the ones where the fear is justified.

It can be done, but it doesn’t just happen by itself. But then again, nothing important ever does.

 

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Putting the “Own” in Ownership

I am a big fan of the three-circle model and I have been since I first learned of its existence a few years ago.

As the story goes, it was actually derived from the two-circle model that preceded it, which was already groundbreaking in its own way because it was an attempt to separate the “family” and the “business” circles, while acknowledging their overlap.

When Renato Tagiuri and John Davis added “ownership” as the third circle, they had created a model that has stood the test of time for three decades now.

Ownership remains the circle that is hardest to grasp for many people, despite the fact that it sounds pretty straightforward on the surface.

People who do not have any relationship to a family business probably have a better grasp on the meaning of the word ownership, because anything that they own is likely pretty clear to them.

This week I attended an event where a woman from the third generation of a business family related that when she became an owner of her family’s business, she was not even informed until a year after the fact.

This reminded me of an event that I lived with my father many years ago. It was back in the 1980’s when CAFÉ was going strong in Montreal, and we attended a workshop together. In preparation, the organisers sent out a questionnaire to all attendees, asking for the percentage ownership in their family business.

My Dad had left this task to me, and I noted that he owned 67% of the company, and I owned 11%. He had set things up with two holdco’s, his, with 2/3 ownership, and his 3 children’s, with 1/3.

During the event, he saw the questionnaire that I had filled out for the first time, and he asked me point blank “What’s this?” I told him essentially what I just noted in the previous paragraph. “Oh, yeah, I guess you are right” was his reply.

Clearly he still considered himself the 100% owner, and I guess my sisters and I did too!

So ownership can be a little nebulous from time to time, and I know of at least one family business advisor who says that he only works with clients on ownership governance matters and avoids working with business founders, who so often have difficulty understanding the three circles.

A couple of weeks ago at the Family Business Summit in Halifax, I participated in an interactive exercise led by Doug Bolger of Learn2, who had the entire room working together and discussing succession matters.

At one point I had another “A-Ha moment”, and I always try to share those in this blog. We were discussing “ownership”, and then someone mentioned members of a younger generation wanting to do their “own” thing.

I had never realized that the word “own”, as in “my own” was part of the word “ownership”. I raised my hand and shared this realization with the group, and based on the reaction, I was not alone.

There is a new initiative being launched by the Business Family Foundation (BFF) this fall that recognizes that members of the rising generation in families seem to be more interested in doing their “own” thing more and more frequently these days.

They have created the “Initiative Intrapreneuriale” which will begin in Montreal in September, in French. As one of their “ambassadors” on this project, I would like to share why I think the idea behind this program is one “whose time has come”.

Intrapreneurship is not a new idea, many companies have benefitted from it, often without even calling it by this name.

What the BFF’s program is designed to do is to help spark business families into intrapreneurship as a way to get younger family members to join their family’s business AND do their own thing.

Enterprising families recognize that businesses have life cycles, and know about the importance of renewal. So why not encourage younger members to come up with their own business, and have it “grow up” within the existing family firm?

Sounds like a win-win proposition to me.

 

 

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Teach your Kids to Make Lemonade

Depositphotos_29564613_m-2015

Our ability to navigate the tricky subjects around family business is often correlated with the parenting skills that were either present or absent while the kids were growing up.

Most people that I speak to about these subjects have agreed with me when I mention that almost all problems we see as advisors to business families stem from things that the parents either did or did not do while raising their little ones.

Ever since I began the work necessary to becoming an advisor to family businesses (taking coaching courses, attending mediation workshops, and even completing two years in a Bowen Family Systems Theory (BFST) training program) the most wonderful side effect has been the positive impact on my own parenting.

Back in February, I wrote a couple of blogs called Tell it to the Judge (Part 1 and Part 2) in which I suggested that the only people who could truly judge anyone’s parenting skills are those who were on the receiving end of them, i.e. their children.

So I guess I would have to actually ask my kids if they agree that my parenting skills have improved over the past few years, but I think so, and even my wife agrees!

During a discussion with my fellow BFST trainees, one member of the group described a situation wherein one of their teenage children had been involved in an unfortunate situation, and someone brought up the old saying “When life gives you lemons, make lemonade”.

So today I want to revisit the lemonade question and how parents might think about handling it. When something unfortunate happens to someone you love, it is tempting to jump in, and react quickly to try to save the day.

Unfortunately, nobody has yet invented the “rewind” button in life, where you could actually just go back and “undo” something bad that befells you or someone you care about. All we can really do is start today and try to make things better going forward.

So what are some of your options when your child receives a proverbial lemon?

Well, you could hit them over the head with it and blame them and make them feel even worse about themselves. This obviously doesn’t sound like a great idea, but that doesn’t mean that it doesn’t happen, and far too often.

We could feel sorry for our child, tell them that none of this was their fault at all, and Mommy and Daddy are going to make it better. “Here you go dear, I made you some lemonade!”

I suppose that is better than the first reaction, but this too can be taken to an unhealthy extreme, and is a missed teaching opportunity.

Somewhere in between these lies a more useful and balanced approach. I will try to break it down into some possible steps to draw out the ways I have thought this through:

  1. Make sure that the child is OK and that there is no more immediate danger or problem.
  1. Empathize with them, explain that sometimes bad stuff happens to good people.
  1. Explain the lemonade proverb to them, along with the old “it’s not what happens to you that’s important, it’s how you DEAL with what happens to you”.
  1. Don’t fall for the temptation to make the lemonade for them. Feel free to share your lemonade recipes (i.e. things that happened to you but which you overcame)
  1. Inquire about how their lemonade making is going, ask for a taste, and compliment them on the fine beverage they have produced.
  1. Encourage them to learn life’s lessons so that they can hopefully avoid being dealt those same particular lemons again.
  1. In due time, point out how proud you are of the way they made that batch of lemonade, and that you are sure that whenever they get some other kind of lemons, you are confident that they will be able to handle them with aplomb.

If you can do all of those things, chances are pretty good that your child will judge your parenting skills to be more than adequate.

I’ll drink to that.

 

Steve Legler “gets” business families.

He understands the issues that families face, as well as how each family member sees things from their own viewpoint.

He specializes in helping business families navigate the difficult areas where the family and the business overlap, by listening to each person’s concerns and ideas. He then helps the family work together to bridge gaps by building common goals, based on their shared values and vision.

His background in family business, his experience running his own family office, along with his education and training in coaching, facilitation, and mediation, make him uniquely suited to the role of advising business families and families of wealth.

He is the author of Shift your Family Business (2014), he received his MBA from the Richard Ivey School of Business (UWO, 1991), is a CFA Charterholder (CFA Institute, 2002), a Family Enterprise Advisor (IFEA 2014), and has received the ACFBA and CFWA accreditations (Family Firm Institute 2014-2015).

He prides himself on his ability to help families create the harmony they need to support the legacy they want. To learn how, start by signing up for his monthly newsletter and weekly blogs here.

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Going Far? Go Together

 

Quoting African proverbs has not been a habit of mine, but whenever I come across something that makes me sit up and think, you know I will soon be writing about it here.

I don’t know where or when this first came across my radar screen, but that’s not important. The key is that it’s worth thinking about and sharing, and as usual I will add my views on the family business angles that I think are worth keeping in mind.

Without further ado, here is the proverb:

If you want to go fast, go alone.

If you want to far, go together.

What jumps out at me is that before you “go”, you need to think about your priorities so that you plan your “trip” the right way.

Family businesses, almost by definition, are about “together” and “far”, not so much about “alone” and “fast”.

But here is where things get interesting. Many, if not most, successful businesses were started by one motivated, hard-working, driven person, whose determination was the key to creating a business that was then capable of bringing in others, often including many family members.

Over time, of course, that founder gets older, and plans need to be made to transition the business to the next generation.

Not only are the skills required to continue the business very different from the ones needed to create it, technology changes over those decades often mean that the business needs to redefine itself to continue being successful in the future.

Now if that founder is lucky enough to have just one child, AND that child has exactly the right attributes necessary to keep the business in a sweet spot for another generation, great. But how realistic is that?

More often, there is not one child, but several children, and even if they all have valuable skills to contribute to the success of the company, what are the chances that they will all be in agreement about what to do, who does what, and of course the biggie, who gets to decide?

So here we are. We may have decided WHAT we want, i.e., we want to go together. We also know why, because we have decided that we want to go far. Okay, on the surface, most people are still nodding in agreement. But this is where it gets tricky.

HOW do we do it?

The devil, as always, is in the details. And the details around the “how” have derailed many a well-meaning family’s plans. So, what do we do?

Let’s go back to Africa, where our proverb came from. If we were planning a long trek through the desert or jungle as a family, what are some of the things that we would need to do before leaving?

And just for fun and some added realism, the parents aren’t coming along on this trip, it’ll be just the siblings. We need to be sure that they can survive as a group without their parents, because, well you know the part about parents usually dying before their kids, right?

If those siblings came to me for advice before their trip, I would recommend they figure out a few things before setting out. Among the most important questions are these:

  • How are we going to make decisions together?
  • How are we going to communicate effectively?
  • How are we going to solve problems together?

Notice the word “together” appears in two of those, and is implied in the other.

Now Mom and Dad could sit them down and dictate the answers to those questions, and that may be helpful. Or it may not be.

Ideally the answers come from the sibling group. Do I mean that the oldest child will dictate them? Um, no, probably not much better than the answers coming from the parents, maybe worse.

These details should ideally be worked on together, as a group. What we are looking for is co-developing them, and building consensus along the way.

Can they do this by themselves? Maybe, but likely not.

How about bringing in a skilled outside facilitator?

Great idea!

If you do that, your odds go up astronomically.

 

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The Tradesman and the Toolbox

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This week my Dad would have turned 80, so he is part of the inspiration for this post. He had apprenticed in Austria as a teenager, and when he arrived in Canada he got a job, bought tools, and went to work, all within a few days.

He knew a trade, and then bought the tools he needed to do the job. But it isn’t always that straightforward.

I learned a lot from my Dad, but very little of what he taught me had anything to do with tools.

True, before my first summer working in his steel fabrication plant, we made the obligatory trip to the hardware store (remember Pascal’s?) after which I was “equipped” to work, even though I had barely a clue what I would be doing or what each tool was for.

I still have that red toolbox, with the blue label on it, “91 S. Legler 91.” (My punch card number was 91). Those tools have been doing a lot of dust gathering lately.

The types of tools that I am coming across regularly these days are not the kind you find in any store, hardware or other.

And interestingly enough, I have not been looking for these tools. Instead, the people who are developing these tools have found me. So what kind of tools am I talking about?

It isn’t that easy to even categorize them, but let’s just call them technology platforms for families. Say what?

We all know and understand that the ways that people communicate in 2016 are far different than they were even a decade ago. The ability to connect with people has grown exponentially, which has many positive consequences.

Family communications can be improved in so many ways with these kinds of tools. And the lack of communication within families is one of the biggest contributors to the demise of family wealth.

So naturally, any tool or toolbox that helps families communicate should be a welcome addition, right.

Well, generally, yes, more communication is almost always better than less, so there is that. Where it gets a bit trickier is thinking that the mere existence of the tool will make the family communicate.

Think of the horse you lead to the water, if he isn’t thirsty (and some family horses are more like camels) he may not start drinking for a long time.

The nice thing about creating this type of tool is that you build it once, and then it gets used over and over again. If you build one thing, copy it virtually cost-free for others and sell it to them, well, the profit opportunity can be large.

Now let’s look at the tradesman. This person needs to learn the skills and the tricks of the trade in order to be able to go out and have some valuable help to sell.   It isn’t nearly as easy to replicate, as each person is unique and unfortunately not “clonable”.

But that doesn’t mean that the tools are not useful. What it does mean, from my perspective, is that the opportunity to come up with the “killer app” in the family wealth/family harmony space, may not be as profitable as some might expect.

First off, I am getting the feeling that the field is getting crowded.

Secondly, very few families realize that they could benefit from these tools. (Yes, there is a need for them, but that is not the same as saying there is a demand for them).

Maybe I am biased by the fact that I am a tradesman in this space, and I like to think that there is some magic in my words and the way I communicate with people in families, without much in the way of a toolbox.

Ideally, many families will benefit from qualified helpers and some of the great tools that are being developed.

My tendency would be to defer to a skilled person with a mediocre tool over someone with a great tool but without the proper training or skills.

As this field continues to evolve, I will continue to work on my craft, while incorporating the best tools I come across.

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Y-a de la place en masse dans ________ ?

Mon Jacuzzi? Peut-être que oui, mais ce n’est pas notre sujet cette semaine. Mais où devrait-il toujours y avoir de la place?

Les sujets dont je parle ici sont souvent reliés aux familles en affaires ou, comme on dirait en anglais, les “business families”.

Il y a une distinction importante entre ces deux groupes, c’est-à-dire la “famille” et la “business”. Y-a-t-il toujours de la place dans la famille, dans la business ou les deux?

Pour moi la réponse est assez évidente, mais je reconnais que pour plusieurs, ce n’est pas toujours facile de démêler ces deux groupes. Pour certaines familles, quand on fait partie de la famille, c’est un acquis qu’on va travailler dans la compagnie .

Pour d’autres, c’est moins certain. Souvent, il n’y a pas assez de place pour tous dans la business, ce qui peut amener à de la jalousie, mais dans d’autres circonstances, il peut y avoir des sentiments d’obligation envers la famille.

Il n’y a rien de nouveau ici, mais je veux stimuler la reflection aux lecteurs qui font face à ces situations dans leurs familles et dans leurs entreprises.

J’ai eu l’opportunité récemment de parler avec la mère d’une famille qui gère une compagnie avec des centaines d’employés.

Pour ce genre de famille, la question de trouver une place pour ses quatre enfants dans la business est certainement moins difficile que ce sera pour une famille qui détient un simple dépanneur.

Une des premières étapes est de savoir si chaque membre de la famille veut travailler au sein de l’entreprise familiale. Notons aussi que la réponse pourrait différer selon l’âge de la personne, en plus de ses circonstances personnelles.

Il faudra aussi se questionner si l’entreprise a de la place pour accueillir cet employé. Comme c’est souvent le cas, les ambiguïtés peuvent se présenter ici. Dans quel rôle? À quel salaire? Est-ce qu’on lui “crée une job”?

Y-a-t’il une liste de pré-requis avant de même être considéré pour un emploi dans l’entreprise familiale? Ou est-ce que des pré-requis s’appliquent uniquement pour ceux qui espèrent occuper un rôle de gestion? Ou pour devenir actionnaire?

C’est assez facile de faire comprendre aux gens que les places dans une entreprises peuvent être limitées, et c’est donc fort possible que certains membres de la famille ne pourront pas devenir employés dans la compagnie familiale.

Mais si c’est possible qu’il n’y ait pas de la place en masse dans la compagnie, où est-ce qu’il a toujours de la place?

Y-a de la place en masse dans la famille.

Ceci semble de toute évidence pour la majorité des gens. Par contre, ce qui arrive trop souvent, c’est que le choix des priorités entre la compagnie et la famille est complètement à l’envers.

L’emphase est trop souvent sur le “quoi” et le “combien” de grandir la business. C’est bien beau de bâtir quelque chose qui nous donne une fierté, une richesse et un style de vie confortable.

D’après ce que j’ai déjà vu, trop fréquemment, la partie qui se fait oublier est celle de la famille.

Dans la famille, on parle moins de “quoi et combien”, mais plutôt de “pourquoi”, “comment”, et “pour qui”.

Mon livre, Changer votre vision de l’entreprise familiale, a comme titre secondaire “Cessez de travailler dans votre entreprise familiale et travaillez plutôt sur votre famille entrepreneuriale.”

À un certain point, le “leadership” de l’entrerprise et de la famille doit reconnaître que la compagnie est un ACTIF qui appartient à la famille, mais que leur vrai héritage passera par les membres de leur famille, peu importe ce qui se passe avec l’entreprise au fil du temps.

J’aimerais souligner un point important ici. Je ne parle pas de situations noires ou blanches. Je ne recommande pas d’abandonner l’un pour se lancer dans l’autre.

Mais étant donné que c’est souvent la famille qui écope, et que travailler dans la business est plus “motivant, fun, et facile” et que c’est plus naturel et ça fait partie de nos réflexes, on doit parfois se forcer à regarder l’importance de la famille et la prioriser.

Il doit avoir de la place en masse dans la famille, pour tous et chacun, peu importe leur contribution à l’entrerprise.

 

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Driven to Commit Patricide (Part 2 of 2)

When we left off last week, I was in the courthouse bathroom, having texted my wife about my surreal elevator ride up with the accused murdered. As I went to wash up, I sensed someone entering behind me. Yes, you guessed it, it was my “new friend”.

I thought about our similarities; same generation, only son of a relatively wealthy, successful man, a father with whom we did not always see eye-to-eye, having spent decades trying to live up to our parents’ expectations. Each of us had lost our fathers within the past decade, albeit under very different circumstances (cancer vs bludgeoning).

I tried to put myself in his shoes here today, and wondered about how I would feel, on trial for having killed my father, and having pleaded not guilty.

Had I been unfairly accused of killing my father, faced with serious jail time, I am reasonably certain that I would not have looked so calm, serene and, I daresay, happy.

Something didn’t compute in my head, there was a disconnect between what I was seeing and the vibe that I was getting, with what I had expected to see. In just a few minutes, my mind was made up, and in my head I had already found this man guilty.

In my heart, however, I was less certain. The stories that came up during the testimony of many witnesses over months of the trial painted a picture of the murder victim that made it very hard to accept that the “good guy”, the son, could go to jail for a long time for getting rid of the “bad guy”, the father.

The rest of the day was relatively uneventful, and the trial continued for another few weeks before the case was given to the jury. They came back with their guilty verdict after 4 days, the announcement met with shock and disbelief.

The case may be coming back on appeal in the fall, meanwhile my “friend” is behind bars, having already once been denied bail pending that appeal. There may be more courtroom drama coming, but we have plenty to chew on already, and hopefully some lessons we can learn.

No, this will not be about how to get away with murder, but more about the ways that wealthy families can go about their business and family lives without the murder instinct ever being triggered.

Parents usually control the family wealth, doing so as their children grow up and mature. There is often a tendency to want to continue to control not just the wealth, but also the children, for far longer than what would normally be considered a healthy and useful time period.

“It’s for their own good”, we tell ourselves as parents, “I know what is best for them, and I have their best interests at heart”. Besides, I worked so hard/waited so long myself (choose one, or both).

It takes a heck of a lot of courage to let go of that control, and to trust that the job we did as parents will be sufficient to allow our children to assume increasing amounts of decision making over the family’s wealth.

We have strayed from the case at hand to some generalities here, but that was always my intention.

“How could this family tragedy have been avoided” may be the specific question, but “how can families learn from the mistakes of others” is what I am really after here.

The natural order of things is for the older generation to die before their children, and thankfully this is usually the case. Having the children wish for their parents’ early demise is one thing, patricide quite another.

Transitioning family wealth, and the decision-making and control around that wealth seem far less intuitive, and not necessarily part of any “natural order”.

From my view, this was not a case of killing someone to get at their money. A son who finally snapped after having been controlled and belittled for his whole life, by a bitter man who clearly had issues in his own family of origin?

That would be my sad conclusion.

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Tell it to the Judge (Part 2 of 2)

Last week my intention was to write a single blog about this subject, but then things didn’t go as planned, because there was just too much “stuff” I needed to cover to do the topic justice.

So I cut things off at a point where I was hitting my self-imposed word limit (around 700) and figured that sleeping on the subject for another 6 days would truly inspire me to wrap things up in a fantastic crescendo finish. We shall see.

At the end of part 1, Tell it to the Judge (Part 1 of 2) we had begun to look at how parents are judged.

My argument was that the only people who are truly in a position to judge the parenting abilities of anyone, are their “subjects”, i.e. the children that they raised.

In the same way that my sisters and I are the best possible judges of the parenting abilities of our mother and father, my parenting abilities can only really be properly judge by my children

Assuming you buy into my argument (thanks!), let’s look at some of the issues this also brings up. The first one is the timing. When are they actually in a position to judge?

An infant will judge Mommy and Daddy by how quickly they change a soiled diaper or give them a bottle when they are hungry. Many years later in life, they may judge their parents by what has been left to them in the parents’ last will and testament.

That potentially leaves a LOT of time in between, and there are many points where their opinions of their parents can and will change.

Many people agree that the teenage years are the most challenging for parents, and so asking teens to judge and evaluate their parents could lead to some interesting responses.

A lot of adults will look back at the time when they were teens as a period when they did not appreciate their parents enough. It takes a certain amount of maturity to fully get the fact that discipline imposed by parents pays off in the long run.

By the time you hit the point where you realize that you need to worry more about your parents than they do about you, you are certainly mature enough to judge the job that they did raising you.

So what is this fascination that I have with judgement of parents all about? Allow me to try to sum it up. I believe that the “job” of parents is to take parenting seriously, and to make rasing their children a top priority in their lives.

As an advisor to business families, I get to meet with many people who have made running and growing their business a higher priority than parenting. I also believe that many of the people who have put business above family will eventually regret it.

The book I wrote in 2014, SHIFT your Family Business, had this as its secondary title: “Stop working IN your family business, Start working ON your business family. It is kind of my “go to” message.

The good news is that it is never too late to make that shift. But it does require courage. Running a business also takes courage, but sometimes it is easier to be courageous in the cutthroat world of business than amongst your family.

I don’t know why that is, but I just feel like I see it too often for it not to be true.

It also takes courage to ask your children to give you feedback on your parenting. I know that most parents will never ask their kids this type of question, and I suppose some people would call me crazy for even suggesting it.

I like to think that I am doing a good job as a parent, but if I never ask my kids what they think, how will I know?

Why should I care? Because I take my job as a parent seriously. And their feedback can help me do it better. But do I have the courage to ask them? Stay tuned to this space for the answer.

 

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