Family-run businesses are rich with legacy, but they can also harbor complexities, especially when facing generational transitions. Navigating these critical transitions takes more than a solid business plan; it requires wisdom, respect, and sometimes, a little outside help. As an expert in this field, Mike Schmitt shares his insights on how to secure a sustainable future for family enterprises. Mike explains how his work bridges financial guidance and interpersonal mediation, helping families navigate generational transitions smoothly. He highlights the challenges families face when blending business with personal history, emphasizing communication and proactive planning to avoid conflicts. With examples from agriculture and other industries, Mike shares the value of creating advisory councils that distinguish family values from operational goals, underscoring that successful succession requires both strategic foresight and understanding of family culture.About our Guest:Mike Schmitt started the Rubra Group in 2009. The goal was to work with mid-sized and closely held businesses to better understand what makes them special to their Employee’s and Customers, and then add just a bit of Corporate rigor to enhance the value and longevity of their businesses.  Over the years we have worked with families and partnerships long enough that they have asked us to come back and assist with transitions.  We are able to help in many situations, but our passion is assisting in helping these business leaders process the best path for them and their enterprises.  The Rubra Group assists Families and Companies throughout North America, often in the Agricultural and Construction sectors.Mike on LinkedIn: https://www.linkedin.com/in/schmittmj/Book on Amazon: https://a.co/d/8czr8zVCompany Website: http://rubragroup.com/About the Host:Your host, Maartje van Krieken, brings a wealth of experience from the front lines of business turmoil. With a background in crisis management, managing transformation and complex collaboration, she has successfully guided numerous organizations through their most challenging times. Her unique perspective and practical approach make her the go to First Responder in the arena of business turmoil and crisis.Podcast Homepage: https://www.thebusinessemergencyroom.com/https://www.thechaosgamesconsulting.com/https://www.linkedin.com/in/maartje/Thanks for listening!Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.Do you have some feedback or questions about this episode? Leave a comment in the section below!Subscribe to the podcastIf you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on Apple Podcasts or Stitcher. You can also subscribe in your favorite podcast app.Leave us an Apple Podcasts reviewRatings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on Apple Podcasts, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on Apple Podcasts.