The Need for Trust in Family Enterprises and Succession Planning with Elizabeth Bagger

Today, we have Elizabeth Bagger as our guest. She is the founder of Avanti Family Business Advisory and a board member of her family business. Given her diverse international background and expertise in various subjects, our discussion explores Elizabeth's perspectives on handling family dynamics, promoting family connections, engaging family members, and embracing a comprehensive approach to business and personal well-being.[00:00 - 13:56] - Navigating Family Dynamics: Insights from a Family Business ExpertHow Elizabeth combines her global experiences with family business expertise Learn the difficulties of being a family business advisor and its complex dynamicsDiscover why good communication is crucial for family businesses[13:57 - 24:50] - Fostering Family Bonds and EngagementEngage in open conversations with the next generation’s aspirations and dreamsCultivate an atmosphere of patience and genuine dialogue for transparent discussionsLet the family regroup and find common ground prior to reviewing the succession plan[24:51 - 35:10]  A Holistic Approach to Business and Personal HealthFocus on family values by defining its purpose and mission Create a plan for how the family owns, communicates, and conducts meetingsResolve communication issues with guided conversations between different generationsKey Quote:"Clear communication is vital within families. It's essential to establish a specific time and place for discussions. When and where should these conversations take place?" - Elizabeth BaggerConnect with Elizabeth Bagger!Website: https://avanti-fba.com/LinkedIn: linkedin.com/in/elizabeth-bagger-3b91453This 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)LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.