What happens when family ties extend into the boardroom? Join me, Dr. Donna, as we welcome Jill Hofmans, the executive director of the Conway Center for Family Business, to unravel the complexities of family-run enterprises. Jill's personal journey from Southern California to Ohio, driven by family circumstances, sparked her passion for the nonprofit sector, leading her to the Conway Center. Together, we explore the vital role that organizations like the Conway Center play in supporting family businesses, which make up a staggering 80% of enterprises worldwide. Through Jill’s personal anecdotes, including her family's foray into the thoroughbred racing industry, we examine the unique challenges faced when family dynamics intersect with business operations.How do you bridge the gap between generations under one family business roof? Jill and I delve into the intricate world where Baby Boomers, Millennials, and Generation Z navigate their roles, sometimes blurring the lines between family and business responsibilities. We emphasize the importance of communication and peer support, sharing insights from peer advisory groups like those at Loyola's Family Business Center. These groups provide a safe haven for family business members to tackle issues ranging from mental health to role clarity, particularly in the wake of COVID-19. We discuss real-world challenges like addressing a parent by their first name at work and the often-overlooked necessity of external support through coaches and advisors.In a world post-COVID, where the debate about remote work continues to evolve, family businesses face unique pressures. Jill and I examine the rising generation's struggle to balance relentless business demands with the need for personal growth and legacy-building. We highlight the crucial role of community support through peer groups, coaches, and therapists, creating a network of shared understanding. Celebrating the entrepreneurial spirit, we stress the significance of fostering connections and personal development to ensure the longevity and success of family enterprises. As we engage with our audience, we invite feedback and stories that enrich this ongoing conversation about family business dynamics.Highlight Time Stamps:(00:00) Family Business Dynamics and Challenges(14:19) Navigating Generational Values in Family Businesses(19:22) Navigating Family Business Challenges(28:47) Family Business Next Gen Challenges(43:08) Balancing Family Business Post-Covid(50:46) Engaging With Audience for FeedbackConnect with Jill Hofmans:Connect with Jill on LinkedInLearn more about Conway Center:Website: www.familybusinesscenter.comJill Hofmans Bio: Jill first joined the Conway Center For Family Business in 2013. As Executive Director, she works closely with our members including facilitating the C-Level peer groups, developing educational program content and delivery, as well as engaging with business and community leaders throughout Central Ohio.Jill has worked, volunteered, and held internships in non-profit organizations most of her adult life. It is no surprise, then, that she has a passion for connecting with and serving others. She currently serves on the board of Small Biz Cares.Jill earned a Bachelor’s degree, with honors, from Pitzer College (Claremont, CA) and a Master’s degree (Phi Kappa Phi) in Women’s Studies from San Diego State University.In her free time, she creates irreverent cross stitch samplers and enjoys happy hour with clients and friends, especially if the venue makes a well-crafted, dirty vodka martini.Connect with Dr. Donna:LinkedIn | https://www.drdonnamarino.com/Learn more about Dr. Donna’s Executive Coaching:Get your copy of Dr. Donna’s book, Unleash the Wise Leader in You! on Amazon.Learn more about Leadership & Team Trainings for Family BusinessesFind out if our Women’s Leadership Group is right for you.Podcast Category:Business: ManagementBusiness: CareersPodcast Artist Name: Dr. Donna MarinoShow Email: [email protected] Website URL: https://www.drdonnamarino.com/

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