19: The Family Business Myth and the Hero’s Journey

Let's Talk Family Enterprise

Introduction

Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.

All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.

Description

Guest host Steve Legler speaks with Guillermo Salazar, Founder and Managing Director of Exaudi Family Business Consulting to explore the Family Business Myth, the Hero's Journey and the importance of storytelling when working with family businesses.

They discuss the importance of a family narrative around the history of the family business as a way to begin the process of creating a cohesive, shared vision for the generations who will take the family into the future, with a particular focus on how FEAs can be catalysts for these types of conversations with their clients.

Guest bio

As Founder and Managing Director of Exaudi Family Business Consulting, Guillermo has helped many business families in the different processes towards the transition of their legacy; integrating new generations and implementing methodologies that create sustainable businesses and align the vision of the family and its values. For over 18 years he has guided business families in Latin America, Europe and the United States in the process of designing family protocols, professionalization processes, effective decision-making and conflict resolution through proven models and methodologies.

You can find out more about Guillermo Salazar here.

Key Takeaways

[0:30] Steve Legler welcomes Guillermo Salazar to discuss the “Family Myth” and the “Hero’s Journey” and how Family Enterprise Advisors can use them to better serve their family business clients.

[3:34] Guillermo talks about the importance of storytelling and how the Family Myth can be used to create and nurture the entrepreneurial spirit in the following generations of a family.

[4:54] Guillermo notes the importance of using the Hero’s Journey in a way that will inspire the next generation.

[8:30] Steve and Guillermo discuss how Family Enterprise Advisors can use the Hero’s Journey with their family business clients to rediscover the family’s narrative.

[12:43] Guillermo talks about three stages (or steps) in the Hero’s Journey that can help families remember pivotal moments in their history that they may have forgotten or not realized.

[14:12] Guillermo breaks down the three steps of the Hero’s Journey and how to circumvent certain people’s resistance to the phases of this journey.

[19:54] Guillermo and Steve discuss how the Family Myth can be retold in a way that the family needs in order to continue through generations, and then Guillermo shares an example from the Spanish army.

[27:58] Steve asks how Family Enterprise Advisors can introduce the Hero’s Journey to their family business clients and get them working on their own Family Myth.

[31:10] Guillermo shares his book recommendations and a piece of advice from an advisor to other advisors.

[35:22] Steve thanks Guillermo for joining the podcast and invites listeners to subscribe to the podcast.

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Mentioned in this episode

Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.

Antonio Ferreira - The Family Myth

The Hero With a Thousand Faces by Joseph Campbell

The Hero's Farewell: What Happens When CEOs Retire by Jeffrey Sonnenfeld

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