I had an interesting call on Friday from a founder of a family business who had read my book. He wanted to know if I could help him sort out his relationship with his son who was working in the business. After talking about our mutual affection for Bull Terriers for quite sometime (it's in the book) we got to the good stuff which was really his confession that his dream of his son continuing the business was not shared --his son just wanted a job and didn't want to buy the shares. The call reminded me why I wrote Every Family's Business, it reminded me about just how much suffering there is in family businesses, how the love of family gets so mixed up and convoluted when you introduce money and control. There isn't enough room here to explain everything we talked about but we did end the conversation on a high note. The caller agreed to ask his son one important question... he would ask his son to help him sell the business one day and in return he would put in place an incentive plan to pay him for doing so. I could feel the relief in the caller's voice when he himself arrived at the solution -- a plan -- for exiting the business and keeping in tact the family he loved. In this particular story, a father and son working together in business gave the illussion of a succession plan, nothing more. Both were working in a family business that neither wanted to own. Starting family businesses are relatively easy-- they are always born out of love and optimism-- it is the exit of a family member from a business that is the tough part. Most lack a method, that is respectful and trusting. Only by bringing all family members together to discuss options will a succesion plan emerge that keeps two important goals front and center; preserving the wealth created by the business and maintaining trusting family relationships. My hope is that Every Family's Business is the book read by everyone in a family business --even family outside the business --and that the book is the "topic" for discussion, the thing that "breaks the ice" and get's everyone thinking and talking about their own family business succession plan.

Audio Book, Accountants and Lawyers

Rod Thank you. You and many others have suggested the benefits of issuing an "audio" version of the book. You are right, with so many digital devices this is a terrific way of getting the book into so many more hands around the world. I will indeed check out the site you sent. Thanks for your suggestion.

Switching gears I have been very pleased with the response from lawyers and accountants to the publication of the book. I had an intuitive sense that they struggle to implement great tax and legal plans because of the emotional currents at play in their family business accounts. One lawyer who bought the book said that when he drops the book off to his client he knows that they know how high the stakes can get if succession planning isn't addressed. Having an informal lunch with a family business member to discuss the book is a simple inexpensive way to get family businesses thinking and acting on their succession plans --gets them thinking about drafting or up-dating shareholders agreements, buy-sell agreements, wills, and a host of other documents that set the stage for wealth to be preserved. Books continue to have a high perceived value and leave a more enduring brand impression than another golf shirt. I still pick up a book given to me by my own insurance agent, Ron Tillotson, and think of him every time I do.
(Thought For the Day: "If relationships among family members working together are so badly damaged it is not a family business--there can be no family business without "family")

It's Official: Every Family's Business is Launched

Yesterday on beautiful sunny day in Hamilton, Ontario about 100 people gathered for the official launch of my book Every Family's Business. Organized by two good friends, Terry Cooke, past Regional Chairman Of Hamilton Wentworth and Glen Fell, President of Fell-Fab (an extraordinary family Business), the event went off without a hitch. Okay one small hitch, on the way to the event my car caught fire on Highway 403. The books were hustled out the vehicle to the side of the road (to hell with the car the books were saved). The great news is that I sold a copy to the taxi driver who I flagged down. Made it to the book launch 15 minutes before show time...piece of cake. Many first time authors talk about selling books out of the trunk of their car...I can say that I sold mine out of the trunk of my flaming car -a very proud moment.

Cookie and Fell along with long time friend and lawyer from Burlington, Brian Heagle, did an amazing job of attracting a terrific mix of family business leaders, lawyers, accounting professionals and other family business advisors. Spoke from the heart about how great it feels to have written a book that I hope and believe will sell a million copies around the world. At the book launch one person asked why I wrote a book on "succession planning". I told her that anyone who writes a book is merely trying to convince themselves of an idea. I explained that I believe profoundly in the importance of family businesses but that I also knew that there is great suffering in these enterprises. My travels to Japan, my doctoral studies in England, my experience leading my family's multinational business convinced me that the issues are universal and that families need a method to preserve their relationships and their wealth. I have to tell you that I'm really pleased with the final product--I'm pretty sure I convinced myself of my idea.

Kudos to my editor Donna Dawson for working her magic on the manuscript and Linda Montgomery and John Nethersole for their cover design. Sheila Mahoney's inside layout of the book is first class as well.

And so now the real work begins --book promotion is vastly more difficult than writing and every day I sit in my office and fire out (bad choice of words) at least a dozen books to family business opinion makers, media, lawyers, accountants, academics anyone who I think will be inspired by the book's message. I have received and continue to receive hits on my website from all over Canada and the United States--the book has jumped the pond and made its way to the Philippines --how cool is that. And yes orders are rolling in. People are visiting my website printing off the online order form and sending checks. I can see that some of the order forms are being photocopied from the back of the book which has got me very pumped up --its telling me the book sales are growing virally and that readers are buying multiple copies after reading it (if you look carefully the order form at the back of the book is perforated). Anyway Every Family's Business is officially launched and my journey begins...I already know it's going to take me on a fascinating journey spiritually, and literally around the world --its just that kind of book.