Defining and Designing Culture Through a Generational Transition

What does it take for a family business to successfully transition ownership and leadership across generations while retaining familial bonds? 

In this episode, third-generation business owner Todd Garretson shares his wisdom on intentionally building cultures grounded in shared purpose and values to ensure harmony and growth for the long haul.

As a former executive in a 75M manufacturing family business he co-owned and eventually sold, Todd Garretson brings multi-generational perspectives to his specialty advisory firm serving family enterprises. With over 20 years of leadership experience across strategy, culture, and organizational development, Todd provides invaluable guidance to founder-led and privately held companies approaching ownership/leadership transitions.

[00:00 - 12:32] Embedding Family Values into Business Culture

• Create intentional design for the desired culture
• Define the purpose of uniting families across generations
• Use values to guide behaviors and decisions

[12:33 - 21:07] Building Trust Through Communication Norms

• Establish "being together" principles
• Help family members understand communication styles
• Adapt methods for cross-generational leadership

[21:08 - 31:07] Aligning Strategy and Culture

• Culture and strategy must work in sync
• Leadership signals shape strategic culture
• Values embedded enable strategy execution

[31:08 - 43:39] Leadership Development as Succession Planning

• Involve the next generation in enterprise sooner
• Create internal leadership development programs
• Tailor messages for cross-generational preferences

Key Quote:

"Wherever people gather, whether it be in a team setting, whether it be your family, whether it be an organization or a community group, there's a culture that's forming and we know that culture is either going to be by design or it's going to be by default." - Todd Garretson 

Connect with Todd Garretson!

Website: https://www.circlemakers.co/

LinkedIn: https://www.linkedin.com/in/toddgarretson/

Email: [email protected]

This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

Connect with me:

https://www.linkedin.com/in/brian-c-adams/ (LinkedIn)

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