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If you lead a family business, you probably deal with the challenge of building a lasting legacy for the business every day. Establishing good governance and nurturing leadership talent from inside and outside the family are important parts of a strong foundation. However, family dynamics also have a very powerful impact on how a family company’s legacy evolves.
This week, we revisit our Fan-Favorite conversation about this challenge with Thomasina H. Williams, Founder and Principal Consultant of Sankofa Legacy Advisors. We discuss what she calls “the family side of family business,” and how it’s equally or even more important to building a lasting family business legacy than attending to the “business side.”
Thomasina combines her decades of experience as an award-winning lawyer and nationally recognized philanthropy strategist to help families who own large businesses or significant financial wealth build transgenerational legacies of success. She does that by helping them focus on their most precious asset – who they are individually and collectively as a family.
Thomasina is a member of a cadre of vetted family advisors for a family office network that’s part of financial giant Charles Schwab. She was also Wells Fargo Private Bank’s first in-house Family Dynamics Consultant. Thomasina has been profiled on NASDAQ and Thrive Global, and has written for Enterprising Women Magazine and the National Association of Women Business Owners, among others.
For me, our most precious legacy is who we are, not what we own. It’s about how you walk in the world, how you treat people, and how you show up. — Thomasina H. Williams
This week on Growth Igniters Radio:
- What Thomasina believes is the key to building a family business legacy that can thrive across generations
- How “default family dynamics” can repeat across generations and impact a family company’s legacy, for good or ill
- An important principle for leading a family business to overcome communication challenges
- Three immediately useful ideas for leading to build a family business legacy while preserving relationships
Resources for This Episode:
- Learn more about Thomasina H. Williams and connect with her on LinkedIn
- Download Thomasina’s 3-Circle Model infographic to better understand the family business ecosystem
- Find out more about Pam’s keynote “Break Orbit: Achieving Long-Term Growth in a Short-Term World”
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