How do you successfully transition multi-million-dollar family businesses to the Next Gen? Today we hear from:
Reg Athwal, Founder of RTS Global Partners and Founder of the Family Business Academy
Imagine you’re my guest for a moment. You’re 11 years old, and for as long as you can remember, you have ridden on your grandfather’s shoulders as he recounted tales of the family businesses’ trials and tribulations, while walking you through your family’s property and buildings. Your grandfather frequently shares with pride: “Reg, one day, you’ll own all of this.”
Then suddenly, at 11 years old, you get a call. Your grandfather had an accident and has died.
Stunned, you watch a family war break out in front of your eyes.
Your family is torn apart – brother against brother, cousin against cousin – and your father is expected to take over the company at an age far younger than he ever anticipated.
Now you’re an adult? What would you do?
My guest today, Reg Athwal, chose to become the bridge that brought his family back together. And now, because of his experience watching a family business be torn apart and then reconciled, he now breaks the code on running successful family businesses.
Reg is the Founder & Chairman of RTS Global Partners and Founder & Chief Educator of the Family Business Academy, and he has privately advised 200+ family-owned businesses and family offices in 25 countries over 2 decades.
“Only 3% of businesses get to the 4th generation. One of the longest standing family businesses in the US is the Shirley Plantation. There is a family business in Japan that is on the 43rd generation! How did they do this? There are three things everyone must have to build a legacy…” – Reg Athwal
What are the key factors that determine the success of a multi-generational family business?
Reg cracks the code for us today. We listen to his experience and perspective on:
What parents/grandparents can do to help their children “catch the fire” to take over the company
What Reg’s family does to ensure each child is encouraged to develop entrepreneurial and leadership skills of their own
The largest pitfalls many family businesses face that cause them to fail
Ways to create harmony and unity in the family, including a core set of values
As someone who runs my own family business (real estate and property management), I have experienced the exact challenges + joys that Reg dissects for us today!
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Connect with Reg!
LinkedIn: www.athwal.com
Clubhouse: @regathwal
reg@rtsgp.com
regathwal.tv (Videos)
fbaclub.house (Club Page)
familybusiness.app (App)
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Book out later this year: The Family Business Messenger – 24 Parables to Guide Your Family Legacy
Check out the Fobillion Foundation – its vision is to support children from 12-21 who have no access to education and enterprise development in underdeveloped villages.
REG ATHWAL, is the Founder & Chairman of RTS Global Partners and Founder & Chief Educator of the Family Business Academy, and has privately advised 200+ family owned businesses and family offices in 25 countries over 2 decades, impacting $6.2b in revenue growth and equity value. He is also the Executive Chairman of the TAO Legacy Family Office and Founder & Chief Mentor of Fobillion. He is a certified global speaker and educator, who has delivered over 3,000 live speeches and programs in 65 countries, and frequently booked as a global expert speaker for Harvard Business School, Young Presidents Organization, Entrepreneurs Organization and Vistage International, as well many other leading Business Schools. He is a bestselling author with 6 books published to date, including the highly acclaimed “Unleash Your Family Business DNA”. He’s also an investor in two technology platform ventures focusing on EdTech & FamTech. His lifetime mission is to impact over one million family businesses and be a life-long philanthropist. At his core he continues to be a life-long Educator & Master Teacher and is committed to delivering valuable wisdom and insights. His inner daily purpose is to “Live Life & Serve Humanity”. www.regathwal.com and www.athwal.com
