How to Assure that the Family Business and the Family Sustain Their Legacy | Meghan Juday | Episode 014

Theme: The Power of a Family Strategy

Summary: A daughter in a successful family business discusses her family’s approach to governance and how she develops, coaches and mentors family members as they become involved in the family business long-term.

Featured Guest: Meghan Juday, Principal at Family Business Strategy Group, IDEAL Family Council Chair, Director at IDEAL Industries

Organization: Family Business Strategy Group

Key Quotes:

  • “I had a three week old, and my father called me up and said ‘Hey, now that you’re not doing anything, how would you like to work on a transition project I have going at the company…’”
  • “How do you pay tribute to the founder and the legacy you that you have?…You really have to take what’s good and move forward and be successful, and take a rational approach to what you take in your generation and pass on to the next.”
  • “It’s never wise to shut down family members or marginalize them…when you lose a branch of your family, you’re losing all these wonderful ideas that could be quite original.”

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