In this issue
For the Trefethen family, life is good and the wine is great. But the road to success has has its share of challenges.
Ralph Brennan focuses on preserving legacy, reinventing tradition and reminding his staff and customers that 75 years is nothing in the New Orleans restaurant business.
Ralph Brennan’s 5 Core Values (in his own words)
1. Personal & Professional Growth
“I want our team to be better a year from now than they are today. As they grow individually, we grow as a company.”
2. Community & Social Responsibility
In 2012, our family business began a healthy succession process – but do not mistake “healthy” for “painless.” We did all the right things — planned, brought in outside advisers. However, while the emotions were expected, they were woefully underestimated. Succession is a mind game with opposing views from one generation to the next. Here’s what we learned about the emotional challenges that come with the process:
Building and sustaining relational trust can be complex and daunting. Trust-building is not just a novel team-building activity you do every couple of years. In this new era of post-pandemic recovery, it should be the highest priority for the entire family enterprise.
These thoughts on leadership were contributed by participants, CEOs and board members during a networking event, called The Hub at the Transformational Women in Family Business conference.
Know what you stand for
This tidbit is all about living your values. Leaders know what they stand for, live it and communicate it.
Tap someone on the shoulder
As part of our feature story on the Trefethen family winery, we wanted to know more about their family dynamics. Members of the Trefethen family say they are usually on the same page when it comes to building and marketing their brand. We decided to see if they were correct. To do this, we asked Janet, John, Hailey and Lorenzo Trefethen to respond individually to the same set of questions. The results were nothing short of fascinating.
What does ‘family business’ mean to you?