Workshops

FEX Symposium | September 24 - 26, 2018 | Niagara-on-the-Lake, ON
Bonus! September 27 - PAG Training

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WORKSHOPS

Tuesday

THE WHOLE TRUTH AND NOTHING BUT THE TRUTH: A CONVERSATION ABOUT HONESTY AND TRANSPARENCY
Presenter: Wendy Sage-Hayward

FEAs and Advisors

Most of us believe that honesty, expressed in a sensitive and respectful way, is a cornerstone of well-functioning relationships and organizations. However, too often we are faced with sensitive, awkward or personally challenging circumstances which cause us to hide, spin, dodge, or embellish our responses. We may withhold full or partial truths either for self-protection or the protection of the other. As advisors, in our relationships with our clients we face even greater complication due to the financial aspect of the arrangement. Our advisory relationships often carry higher risk for us when we want and need to tell the whole and sometimes painful truth. The risks include the potential for professional embarrassment and/or termination.

However, truth telling can be a huge relief. When we engage in greater honesty and openness with others, we often become happier, more satisfied, and are able to create stronger bonds of trust and a deeper longer lasting connection. 

In this workshop we will explore how to increase our awareness of our truth telling abilities especially in situations where we need to share a difficult and sensitive truth which we know will be a hard conversation. Questions we will explore in this workshop include: 

  • The concept of truth telling. What does it mean? What does it entail?
  • Who do we tell the whole truth to? Are there circumstances where honesty is not the best policy?
  • What circumstances are most difficult for us to tell the truth?
  • When, in client relationships, is honesty required?
  • What does it take for us to be fully honest and transparent?
  • How do we tell the truth to our clients in a productive way?
  • How do we curate our professional image while staying true to our values and goals?
  • How do we manage it when clients reject our honesty?


THE CHANGING VALUE OF PARTNERS

Presenter: David Simpson

FEAs and Advisors

At the fledgling stage of a business, most entrepreneurs turn to valued friends and family to provide the critical emotional and financial support needed to get the business off the ground. These early “partners” may also provide some unique skills at the early stage venture. Over time, the needs of a successful business change and often the motivations and objectives of original partners can change too, along with the “value” they bring to the business. Misalignment among partners often leads to exits, redistribution of roles and intense discussion about who really is driving value. Business families experience the extra emotional burden of honouring historic partnerships that they fear undoing, even if the business needs have changed. 

In this workshop we will identify the important drivers of business value and as a group our task will be to be to decide “who deserves what”. Using a 50 year old partnership as a case study we will determine the distributions and discuss the agreements needed to recognize value over time, including the adjustment of stakeholders such as buyouts and percentage ownership.

Objectives:

  • How to help families understand the key drivers of value in their business.
  • Look at the key agreements and policies needed during the evolving state of a family business.
  • Understand our own biases as advisors and the influence that has on our assessments.
  • Look at what it takes to be objective when valuing a stake in a family business.
  • Why flexibility is a necessary trait when it comes to adjusting legacy agreements to that reflect current realities.


HOW "WE AND ME" CAN FLOURISH IN A FAMILY BUSINESS
Presenter: Judi Cunningham & Gaia Marchisio

Families only

Business families have to manage paradoxes. It is part of the course. Families are pulled between what appears to be two polar opposites that cannot find harmony under one roof. Should we harvest or invest? Take a risk or play it safe? Family first or business first? The tension mounts as families try to find balance and consider everyone’s perspective. 

One paradox that tends to fly under the radar but is acutely felt as we move from child to adult is the pull between our individual needs and wants verses those of our family and family business. The expectations from the family whether they are overtly spoken or covertly implied are internalized unconsciously. Our journey is built around a series of events where we attempt to assert our own stamp on the world and in some cases our family’s business and assets.

In the field of family business there is often a focus on the family which can leave the individual behind. We hear the words “Stronger Together” as fact and while this may indeed be true it leaves little room for exploration and curiosity, instead we operate and make decisions from this assumption.

In this workshop we will take a frank look at the pluses and minuses of togetherness and separateness, individuality and connection within the context of a family enterprise. We will explore what it takes to celebrate individuality within the family system and why we sometimes feel that we have to sacrifice one to gain the other.

Objectives:

  • Understand how intrapreneurship can be a tool for both the individual and family to grow and flourish
  • Redefine the meaning of wealth
  • Connect, meet new families and have fun
  • Opportunity to reflect on what’s most important in as a family
  • Learn how to take care of the “I” in family and in the business

Wednesday

FAMILY WEALTH, POWER, AND CONFLICT: WHY HAVING A SHARED VISION REALLY MATTERS
Presenter: Michelle Osry

This workshop will explore family conflict and how to manage it, focusing on the importance of having a shared family vision and values to ensure family well-being and enterprise success.  As part of our discussion, we will examine the components of the conflict equation introduced to us by Doug Baumoel and Blair Trippe in their book, Deconstructing Conflict: Understanding Family Business, Shared Wealth and Power, leveraging the equation as a framework to better understand family conflict and how it can be managed. We will take a close look at the equation’s “family factor” and will consider practical ways in which a family can build their shared purpose, vision and values.  

Objectives:

  • Introducing the conflict equation ™
  • Understanding family systems, family psychologies, and conflict triggers
  • Examining alternative ways to manage family conflict
  • Understanding the pivotal importance of a family’s shared vision and values in ensuring the long-term success of their family enterprise

KEY THINKING STRATEGIES OF PHENOMENAL LEADERS
Presenter: Kim Ades

As a leader, your thinking has a greater impact on your team and your business results than any other factor. This is why examining and sharpening your thinking is vital for attaining the outstanding levels of success that you are aiming for. The process requires you to understand how your thinking has both propelled you forward and yet still often holds you back while deliberately building the muscle that keeps you moving toward your goals.

In this interactive workshop, you will literally begin to see and capture how your thinking is affecting your outcomes and learn how to stretch your mind muscle and challenge your self-imposed limitations to reflect the thinking and practices of today’s most accomplished leaders. You will walk away with tangible strategies for overcoming your biggest leadership obstacles. Come prepared to be challenged! You are guaranteed to see the world through a new lens - the lens of a phenomenal leader. Be energized with new perspectives and strategies to implement in your own environments and become confident about your ability to drive significant change.

Objectives:

  • Discover the single most important factor that leads to success.
  • Learn to quickly identify what differentiates extraordinary performers and others.
  • Understand what it takes to develop and leverage the strengths of key leaders, employees and teams.
  • Explore and experience strategic techniques to challenge yourself and your team in order to drive higher levels of performance.

WHAT HAPPENS WHEN YOU TRY AND SHAKE THE NUTS OUT OF YOUR FAMILY TREE!
Presenter: Karen Laprade & Peter Roy

There is no escaping the fact that there is a rise of estate litigation in corporate family business disputes where power is often one of the matters litigated.   Peter and Karen will explain what is causing this rise and the range of options families have for prevention and resolution. The workshop will also highlight how advisors across all disciplines can work closely with their family enterprise clients to navigate this tricky and sometimes volatile issue.  Using real-life case studies that offer insights on what worked and what didn’t work for families in order to understand the variables that need to be considered and discussed prior to taking action. At the core of this topic, below the legal and technical nuances, is the need to respect and honour the human and relational aspects that underlie these complex family business and estate disagreements. Sometimes compassion and communication can save families from the law courts which are costly both emotionally and financially.

Objectives:

  • Understand how to create and revise shareholder agreements that speak specifically to family members and provide better family continuity planning.
  • To understand that successful family enterprise succession and wealth transfer is requiring different approaches, earlier intervention and unique expertise.
  • To understand and begin to develop an ability to guide conversations seeking to reduce the monetary and emotional toll that disputes in these areas often create.
  • To recognize the many business and family roles that individuals have. Differentiation allows for an increased ability to clarify roles, make better decisions, and implement decisions. 

RISKY BUSINESS: IDENTIFYING, MITIGATING, AND ADDRESSING RISK IN THE FAMILY ENTERPRISE 
Presenter: Krista Han and David Florio

Research has shown that over time family businesses out-perform non-family businesses. But with this unique benefit come unique and complex risks specific to business families.

What is the impact of a strong personality on the strategic direction of a family business if only one voice is heard?  How do business families manage their liquidity when some family members are looking to exit while others want to invest and grow? And then there is the risk associated with a family’s reputation. How do you mitigate reputational risk to the family as a whole as well as individual members in a world where social media becomes the judge and jury on issues such as harassment, inclusiveness and diversity? Today more than ever family businesses and family member’s online presence requires thoughtfulness, consideration and awareness.

Objectives:

  • Gain appreciation for the unique risks family businesses face
  • Understand what influences how we look at risk
  • Using real family business cases, explore processes and procedures that help identify risks
  • Learn the steps needed to develop a plan to mitigate risk
  • Explore the steps to take when the ‘the worst-case scenario’ happens

FROM RIFT TO GIFT: WHEN MILLENNIAL VALUES MEET FAMILY BUSINESS TRADITIONS
Presenter: Marjorie Brans & Robert Wakulat

In coming years, Canada is poised to experience the largest intergenerational transfer of business control in its history. As legions of Baby Boomer business owners exit their companies, many are looking to the Millennial generation to take over.

Millennials are famous (or infamous?) for bringing a new set of values to the workplace. Growing up in a digital and highly dynamic, globalized world, this generation is rethinking conventional business models, career paths, work styles, family models, definitions of success, and expectations of life.

What happens when Millennial Values meet Family Business Traditions? Does the encounter need to produce a rift in your family or its business culture? How can these values be transformed into a gift that prepares your generations-old businesses to flourish in the 21st century economy?

Objectives:

  • Expose participants to inspiring stories of businesses that have leveraged and appealed to potential Millennial successors;
  • Learn about a framework for business model innovation that potentially offers a new way of thinking about the future of participants’ family business;
  • Map resources for older and younger generations as they consider the future of the family business.


NONFLICT IN THE FAMILY ENTERPRISE: THE ART OF EVERYDAY PEACEMAKING

Presenter: Vincent Valeri

This interactive workshop will introduce you to Nonflict. The Nonflict way is a simple and effective 3-step method that provides a structured approach to conflict resolution. The steps will lead you to a better understanding of yourself and of one another, then to discuss your shared reality, and finally to take active steps to co-create your ideal reality. 

“Conflicts are merely opportunities in disguise.”

Objectives:

  • Deliver an effective model for conflict resolution that you can start using right away
  • Help you strengthen and build on your relationships at home, at work and in your community

CREATING TRUE WEALTH - BEYOND FINANCIAL SUCCESS
Presenter: Chris Clarke

In this talk, entrepreneur, author and wealth manager Chris Clarke shares lessons gleaned over 30 years watching families empowered or destroyed by money. Her talk helps audiences to understand the importance of managing both our money as well as our relationships. Her proprietary methodology was developed by understanding the processes successful, stable and sustainable businesses use to create an environment where people and profits thrive and translated these into tools to help families and entrepreneurs do the same.

Objectives: 

  • Chris outlines a powerful process that everyone can use regardless of where they are in the wealth creation journey. The outcomes from employing this methodology are clear building blocks for families and for entrepreneurs to create financial wealth as well as build lives that are filled with purpose and meaning.

WHERE FAMILY ENTERPRISE THEORY MEETS PRACTICE
Presenter: Dr. Lloyd Steier & Shauna Feth

Based on current research, this presentation will highlight five of the most influential theories of family enterprise: agency theory, resource-based view, stewardship theory, socio-emotional wealth, and institutional theory. It will conclude with a facilitated discussion of their implications for working in--and with--family firms.

Objectives:

  • Participants will be able to summarize and articulate influential theories of family enterprise
  • Participants will be able to assess case based situational contexts and apply appropriate theoretical lenses
  • Participants will be able to articulate application of theory to their own experience and practice

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