Navigating a family business comes with unique challenges, from balancing personal relationships to ensuring fairness and clarity in decision-making. In this Better Business, Better Life Flashback Series episode, we revisit an insightful conversation with family business expert Sara B. Stern. Sara brings her wealth of experience to the table, offering practical tools and strategies to strengthen both your family and your business.

Debra and Sara explore the three-circle model of family businesses—family, business, and ownership—and why each needs its own leader and structure. They discuss the importance of involving spouses in decision-making, avoiding communication breakdowns, and setting clear boundaries for long-term success. Sara also shares insights from her book Married to the Family Business and introduces resources designed to help spouses play a more active, informed role.

Whether you’re part of a family business or advising one, this episode is packed with timeless wisdom on leadership, fairness, and creating a thriving multi-generational legacy.

Tune in and re-live the key principles that drive your family business while maintaining harmony and long-term success.

CONNECT WITH DEBRA:        

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►Debra Chantry-Taylor is a Certified EOS Implementer | Entrepreneurial Leadership & Business Coach | Business Owner

►Connect with Debra: debra@businessaction.co.nz

►See how she can help you: https://businessaction.co.nz/      

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GUEST’S DETAIL:

► Website Link

► Married to the Family Business: A Handbook for Spouses of Family Business Owners

► Connect with Sara

► Sara B. Stern - LinkedIn

Chapters:  

00:00 - Introduction

03:05 - Sara's New Book and Its Impact

04:29 - Challenges Spouses Face in Family Businesses

07:34 - The Three-Circle Model and Its Implications

07:58 - Advisors’ Role in Family Businesses

14:03 - Practical Tips for Family Business Advisors

26:27 - Tools and Resources for Spouses

31:03 - Differences Between Family and Traditional Businesses

34:20 - Navigating Family Business Dynamics

38:21 - Fairness in Family Businesses