25. Family Business: How to Build a Business That Continues Without You ... with Georgia Goury

In this episode, Lewis Haydon interviews Georgia Goury, the operations director of Action Coach Essex Central, about the challenges and dynamics of running a family business.

They discuss the importance of building a supportive community, setting boundaries, and maintaining a balance between personal and business life. Georgia shares her personal experiences and offers insights on how to overcome the unique challenges that arise when working with family members.

The conversation highlights the significance of identity and perception in family businesses and emphasizes the role of coaching in navigating these complexities.

This podcast explores the dynamics and challenges of running a family business. Lewis Haydon discuss the three ways to exit a business and the importance of protecting the culture of a family business. They share the story of Mark's family business and how they created systems and leverage to ensure its success. They also discuss the need to reframe the role of family members in the business and the importance of balancing work and personal life. The conversation concludes with a focus on communication, boundaries, and building memories in family businesses.

Takeaways:

There are three ways to exit a business: through death, selling the business, or passing it on to the next generation.
Protecting the culture of a family business is crucial for its long-term success.
Creating systems and leverage allows family members to focus on what they truly want to do in life.
Reframing the role of family members in the business can lead to greater success and fulfillment.
Balancing work and personal life is essential in maintaining healthy relationships within a family business.
Accelerating success in a family business requires effective communication and setting boundaries.
Building memories and moments outside of work is important for maintaining strong family bonds in a business setting.

Chapters:

00:00 Introduction and Mission

01:00 Introduction to Georgia Goury and Family Businesses

08:12 The Role of Action Coach Essex

11:06 Building a Supportive Community

15:40 The Challenges of Family Dynamics in Business

20:10 Identity and Perception in Family Businesses

30:54 The Three Ways to Exit a Business

32:00 Protecting the Culture of a Family Business

35:39 Creating Systems and Leverage in a Family Business

36:36 Reframing the Role of Family Members in the Business

37:31 Balancing Work and Personal Life in a Family Business