What does a successful family business look like? In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Russell Sanders of the Business Transition Advisory Group at Truist Wealth about how a family business can achieve goals that may benefit the family financially and personally. They discuss (time stamps are approximate):• What the Business Transition Advisory Group does (1:49)• The characteristics of a family business (4:13)• How to bring your family’s values to your business (9:13)• Setting goals for your family (11:36)• Establishing a decision-making process (18:47)• How to define success (21:47) • Why Russ needs to plan a family vacation (26:05)• Final thoughts from Oscarlyn (27:46)Learn more about how the Business Transition Advisory Group can help support your family business, and stay tuned for the next episode in this series on running a family business, which will cover how to find the right roles for different family members.The podcast team has created a template for taking notes on each episode. You can find it at:http://truist.com/resources/wealth/financial-planning/define-success-family-businessHave a question for Oscarlyn or her guests? Email [email protected].

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