Wayne Rivers | A New Reality for Family Businesses
JOIN WAYNE RIVERS AND CRAIG BUNDREN AS THEY DISCUSS:
00:46 - Wayne Rivers, “The Catalyst”
01:05 - The Family Business Institute
02:45 - How Wayne got started
04:03 - Helping family businesses get unstuck
06:26 - Roles, responsibilities and accountability
08:10 - Family businesses falsely have “informality”
10:19 - People make mistakes and that’s how we learn
12:10 - Pray and Pay
12:32 - People used to pass down family businesses, more than half today won’t pass within the family
14:40 - Exit strategies for family businesses
16:40 - Accounting and Finance (looking beyond tax breaks)
19:22 - Yes, you need a budget
20:29 - Getting back on target
22:58 - The problem with Covid is that it’s become so political
25:45 - Business planning in a complicated climate
29:19 - Looks like a brief and mild recession depending on your industry
31:00 - We’re optimistic
37:25 - You can tell a lot about a contractor based on a job site
41:15 - Starting the Family Business Institute
46:00 - Construction company peer group (peer audit)
47:55 - Contractors are amazing consultants as long as they’re not looking at their own business
49:24 - Be willing to open the books and get honest feedback
52:06 - You don’t know what you don’t know
54:44 - Drawing from the experience working with our clients as authors
CONNECT WITH WAYNE RIVERS:
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LEARN MORE ABOUT CRAIG BUNDREN AND THE CRAIG BUNDREN ART FOUNDATION:
Chromatic Podcast Site: www.Bundren.fm
Chroma Magazine: www.ChromaMag.com
Bundren Building Arts Foundation: www.Bundren.org
Bundren Painting: www.Bundren.com
Host: www.CraigBundren.com
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