Family business resources

Explore the journey of shifting from incremental to exponential growth, fostering innovation through social capital, divergent thinking, and elevation.

This blog post explores how to be a good citizen, worker, and family member. It provides practical strategies for growing in respect for self and for others, for fostering desire, healthy communication, and lifelong learning to enhance personal and professional relationships.

In this episode of Resilience Talk, join Paul Spencer as he explores the critical yet often overlooked concept of business valuation. He discusses the importance of lifting our heads above daily operations to understand what truly adds value to our businesses. This conversation offers essential insights for business owners navigating the landscape of growth and preparing for the future—especially in the context of family enterprises.

Striving for perfection can often become a stumbling block rather than a stepping stone to success. The "perfection trap" delays product releases and stifles innovation, as companies focus on endless tweaks rather than real-world feedback. In this blog we explore practical strategies to break free from this mindset, emphasizing the value of continuous feedback and iterative development to create products that truly resonate with users and meet market needs.

The idea of building wholehearted organizations couldn’t be more important right now. These organizations not only prioritize business success but also deeply care about their employees, customers, and the larger community. In this post we will dive into the transformative power of creating wholehearted organizations and how they can nurture resilience and contribute to the broader societal fabric.

Mentoring and community involvement are pivotal elements that contribute significantly to personal growth and the development of resilient communities. These activities not only provide support to individuals in need but also foster a sense of connection and purpose among those who volunteer.

The healthcare industry is experiencing a period of significant transformation, driven by demographic changes, technological advancements, and evolving economic factors. For those in their 20s contemplating a career in healthcare, the landscape presents both formidable challenges and exciting opportunities.

In today’s fast-paced business environment, achieving sustainable growth requires more than just incremental changes. It demands a fundamental shift in mindset, especially around technology and product management.

I want to dive deeper into a theme we explored in our last episode of Resilience Talk (episode 18): the generational conflict in how we perceive business operations and familial language in a professional setting. Many of you might recall our discussion about how younger generations often feel triggered by the older generational view of business as “family.” However, a recent blog post by David Heinemeier Hansson (DHH) from 37signals provides a fresh perspective.

Over many years of working with businesses and family enterprises, there’s been one topic that surfaces—implicitly or explicitly—again and again. And that is the difference in perspectives across generations. It’s a theme that’s both challenging and enriching for the workplace (and family!) dynamics. In episode 18 of the Resilience Talk podcast we explored some of these differences in perspective across the various generations, from boomers, to Gen X, to millennials, and to Gen Z.  I the post I want to highlight just a few of the major areas of discussion from the episode.

I’m back with part two of our deep dive into the Harmonics Way principles, a cornerstone of our philosophy at Pomiet and a framework I hold dear. Last time, we ventured from the bottom up, exploring the concepts of embracing complexity and fostering better collaboration. It’s important to note, however, that there’s no hierarchy in the importance of these principles—each is a vital piece of the puzzle in building a harmonious work environment.

Developed alongside my friends and business partners Rob Keefer and Stacy Sheldon, the Harmonics Way Principles emerged from the culture and philosophies we nurtured at Pomiet. Our aim? To encapsulate the essence of achieving peace of mind in everyday technologies and healthcare solutions. Originally born from a blog in the ’90s, these principles have evolved into the core pillars that guide our interactions, decision-making, and overall approach to business and technology.

I recently had the chance to sit down for another episode of Resilience Talk, and we tackled a topic that’s been buzzing in the economy—the “Silver Wave.” This phenomenon is all about the massive group of baby boomers heading into retirement and the significant challenge many face: the absence of a succession plan for their businesses.

Cybersecurity has become a critical concern, especially over the past eight or so years, as hackers increasingly target midsize and small businesses. Unlike large corporations like Citibank or Target, which invest millions in cybersecurity, smaller businesses often lack the resources and awareness to protect themselves. This makes them the path of least resistance for cybercriminals.

In this video, I discuss the importance of economic and financial awareness and how it can help us make informed decisions. I share my personal journey of curiosity and self-education in this field, despite not doing well in economics in college. I highlight the impact of low-cost money, quantitative easing, inflationary cycles, and the need for resilience in businesses. I emphasize the importance of well-established processes, continual improvement, and lasting decision-making. The goal is to have conversations and foster innovation in order to navigate the changing economic landscape.

In this video, I provide an overview of the U.S. Department of the Treasury Bureau of Fiscal Service. I discuss the importance of understanding the economics of things as we plan for the future. I highlight the fiscal year 2023 and the income taxes, payroll taxes, and corporate taxes involved. I also discuss the outlays, deficit, and the non-discretionary expenses such as Social Security, Healthcare, and National Defense. Additionally, I touch on the net interest and its potential impact on our debt. This video aims to raise awareness and encourage preparation and planning.

In this video, I discuss the concept of resilience within family enterprises. I explore how resilience plays a crucial role in both family and business contexts, emphasizing the importance of generational wisdom and the ability to rebound quickly from challenges. I also touch on the significance of forgiveness and personal flourishing within families. By understanding these key elements, we can build resilience and ensure the long-term success of our family enterprises.

Since the beginning of Second Nature, I’ve dedicated a portion of my time each week to mentoring initiatives in what I call Lead Volunteer. This commitment led me to form partnerships with various non-profits in Cincinnati. One of those dear to me is City Gospel Mission.

In this video, we explore the concept of family wisdom and how it can be traced across generations. We discuss the importance of family members and their roles within the family and the business. We also delve into the individual desires and aspirations of each family member, recognizing that not everyone may fit into the business. We highlight the significance of supporting each member's personal endeavors while instilling a sense of collective family wisdom. Throughout the video, we examine examples of how family wisdom can be applied, such as leadership, decision-making, stewardship, relationship-building, and more.

In this video, we discuss the concept of generational longevity and how it applies not only to businesses but also to families. We explore the importance of wisdom and the difference between knowledge and wisdom. The video highlights the opportunity to pass on generational wisdom and the benefits it brings to future generations. No specific action is requested from the viewers, but it serves as a thought-provoking discussion on the topic.

I’m writing to share with you a project I’m excited about — the launch of my new podcast, Resilience Talk. Through this platform, I aim to open a conversation about the complexities and nuances of building resilient family enterprises, especially in the face of economic and political uncertainties that loom on the horizon.