Unlocking Family Business Potential Through Advisory Teams with Dr. Jeremy Lurey

The Secret Thoughts of CEO's Podcast

Unlocking Family Business Potential Through Advisory Teams with Dr. Jeremy Lurey

In this episode of the 'Secret Thoughts of CEOs and Business Leaders' podcast, host Chris Yonker discusses the complexities of managing family business transitions with Dr. Jeremy Lurey. The episode covers key topics such as building effective advisory teams, succession planning, and the nuances of family dynamics in business settings. Chris and Jeremy explore the importance of external advisors, the challenges of sibling rivalries, and how to prepare for pivotal moments like selling a business. They also offer insights into identifying the right advisors and emphasize the importance of continuous learning and personal development for effective leadership.

What You’ll Learn

· Why it’s important to have an independent advisor

·  The necessity of being a continuous learner to belong in the field.

Timestamps

03:07 Introduction to Dr. Jeremy Lurey

05:20 The Role of Family Business Advisors

20:06 Navigating Family Business Relationships

32:46 The Importance of Independent Advisors

38:42 Generational Transitions and Family Harmony

44:47 The Importance of Personal Connection

Memorable Quotes

· “Common sense is not that common. Right. People just don't stop and think about how I'm interacting with my partner, my child, my cousin, my uncle, my whomever it is. And so we get to shine the flashlight in places where people typically don't look..” [11:16]

·  ”for my dad, I will always be the 16 year old who wrapped a car around the tree. I always will be because I did. I did stupid things when I was 16 and 17 year old when I got my driver's license..” [17:34]

·  ”We could all get hit by the buff. I prefer the metaphor of when the lottery and move to Fiji myself. But regardless life happens when we least expect it. So having a plan is critical.” [23:01]

Websites:

fambizforum.com.

www.chrisyonker.com.

Familylegacy1st.com

LinkedIn: @jeremylurey

Jeremy Lurey PhD Bio:

Family Advisor & Leadership Coach

Dr. Lurey is a talented family advisor, executive coach, and business consultant with more than 25 years of experience helping clients—from families of significant wealth to Fortune 500 corporations—achieve their strategic objectives and build sustainable futures. He specializes in leadership development, succession planning, governance, and strategic planning, guiding family offices and family businesses through critical transitions and long-term planning. A PhD in Organizational Psychology, Dr. Lurey is a US Ambassador for the Global Family Office Community and frequently speaks at industry events. Recognized as a “40 Under 40” executive, he is known for his compassionate approach, enabling clients to unlock their leadership potential and focus on what matters most.