The Business of Family - Episodes Tagged with “Parenting”

Richard Eyre - Avoiding the Entitlement Trap of Raising Children in Affluence [The Business of Family]

Mike Boyd — Mon, 28 Sep 2020 19:00:00 +1000

Richard and Linda Eyre may be the most prominent and popular writers and speakers in the world on the topics of family and parenting. Among their incredible 50 books is Teaching your Children Values, the first parenting book in 50 years to hit #1 on the New York Times Bestseller list.

The Eyres’ work is based on the real-life experience of raising 9 children, founding and running 3 businesses, and trying to keep up with high-level involvement in politics, church, music, and sports.

Key Takeaways

The importance of raising children who are happy and motivated
Understand the benefits of implementing a family economy
How a Family Traditions Calendar can have lasting and permanent affect
Why documenting and sharing family history can empower your child
Giving your children ownership to empower and avoid entitlement
Why some failures can lead to major success
The ways that giving children more can actually give them less

Episode Timeline

[1:34] How Richard Eyre dedicated his life’s work to healthy families and parenting
[5:16] Parenting to raise motivated and happy children amid wealth
[7:57] Formal documentation and structure in the family environment
[11:29] Teaching families how to have a family economy
[14:44] Richard and Linda’s family traditions calendar
[20:37] Empowering children through ancestor storybooks
[23:12] Rescuing your child from the entitlement track
[26:55] Giving kids ownership to empower and motivate
[29:29] #1 New York Bestseller, Teaching Your Children Values
[33:37] Books and publishing with insights on new book, Happiness Paradox
[37:32] Richard’s public failure leads to bestselling success
[40:52] Creating free online access to the Eyre books
[44:45] Richard Eyre’s landing page
[48:08] Richard’s belief that if we give our children more, we give them less

Standout Quotes

“We just found that there was a tremendous resonance with the idea of raising healthy kids and looking at it as a management opportunity, a management challenge.” – Richard Eyre [04:37]
"Our goal is to help parents raise responsible, motivated kids. That is a tricky thing to do in a household of affluence." – Richard Eyre [07:11]
"It's the idea that you as a parent have one single focus each month you're going to do well. If you're trying to teach multiple values or multi-task on that you're never going to do it. Just focus one whole month on honesty, suddenly everything that happens is an object lesson.” – Richard Eyre [31:20]
“It was on the heels of that defeat that we wrote this book, Teaching Your Children Values. One year after losing the governatorial race, the book went to number 1. The first family book in 50 years to get to number 1 on the New York Times Bestseller. One door closed but another one opened.” – Richard Eyre [39:38]
"To those of us who have spent our lives in or around business, I think management by objective always resonates. People who are clear on what their goals are and where they're trying to get are the ones who succeed. It's quite remarkable that that very basic sort of practical thinking has rarely penetrated areas of relationships and families and it should." – Richard Eyre [46:40]
"If you are clear on what the goals are that you have for your family and your children, for your family institution it doesn't guarantee success, but it certainly allows you to measure your success and how well you are doing." – Richard Eyre [47:13]
"We need to find ways to pass on what we have without it being a gift that's not value. We have to find a way to share responsibility and to teach the concept of earned ownership rather than running the huge risk of entitlement, spoiling children, putting them on a path of low motivation by giving them too much." -- Richard Eyre [49:07]

*For more episodes go to *
BusinessOfFamily.net

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Richard Eyre.

Jim Sheils - The Family Board Meeting [The Business of Family]

Mike Boyd — Mon, 24 Aug 2020 19:00:00 +1000

Our guest this week is Jim Sheils, a successful real estate entrepreneur and best-selling author of The Family Board Meeting. Jim was motivated by what he saw as one of the most tragic challenges of modern life: the disconnection of busy entrepreneurs from their families.

Jim Sheils developed the Family Board Meeting process out of necessity for his own family and hopes to help business owners bridge the gaps between themselves and their loved ones.

Standout Quotes

“I look at my family as my most important clients, investors, and key team members.” – Jim Sheils [8:43]
“If people hear nothing else today Mike, I mean nothing else, just know that the potency and power of one-on-one time is irreplaceable. It separates the parts to strengthen the whole, it takes away sibling rivalry, it puts the magnifying glass on the relationship in a positive way.” – Jim Sheils [12:01]
“There is no substitute for quality time and communication.” – Jim Sheils [21:03]
“What I’ve told my kids is our wealth is tied to certain core values. I will give you opportunities that I did not have. I will help set up those things, but I won’t do the push-ups for you.” – Jim Sheils [21:47]
“Probably one of the worst things to ever happen to businesses and entrepreneurship, is to try to force a child to go into the family business.” – Jim Sheils [32:00]
“I think it’s important for my children to remember they have certain gifts and talents that they will be able to detect that they’ll intuitively feel a pull for. I want them to have the courage, comfort, and support to go for it.” – Jim Sheils [40:24]

Key Takeaways

Understanding the “great entrepreneurial lie” and how to begin living in the now
How irreplaceable the power and potency of one-on-one time is for strengthening your family connections
Tips for making sure you are not “half-in parenting” as you work from home
Understanding the challenges that come with successful succession in multi-generational family businesses
The importance of setting core values and guidelines to reach success

Episode Timeline

[1:31] How a major life shift can change your values and awareness on life
[2:46] The great entrepreneurial lie and the importance of focusing on your family
[4:26] Jim’s focus on his children’s education
[6:07] Personal development, financial intelligence, and relationship skills for the next generation
[8:30] Jim’s family board meeting concept
[10:35] A solution that is simple but has key fundamental action steps
[11:54] The three guiding principles Jim has for his family board meetings
[15:05] Some success stories families have had using the family board meeting method
[20:15] The third-generation rule and providing proper stewardship
[21:34] Jim’s outlook on his children inheriting his wealth
[24:17] Half-in parenting while working from home
[28:12] The failures that set Jim up for success
[31:05] Strife and family breakdowns in the succession of multi-generational businesses
[37:17] 18 Summers and the desire to form lifelong child-parent connections
[40:06] Jim’s focus on encouraging his children’s own gifts and talents

For more episodes go to
BusinessOfFamily.net

Follow Mike on Twitter @MikeBoyd

If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes, I receive a notification of each review. Thank you!

Special Guest: Jim Sheils.