
Family Business Succession: Communication is Key with Patti Durand | The Trent Klarenbach Podcast
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In this episode of The Trent Klarenbach Podcast, Trent sits down with Patti Durand, principal of Brightrack Consulting, co-founder with Chris Corbett, and author of 'The Future Leader: The Successor's Guide to Family Business Leadership.'
Patti shares her insights on the complexities of family business succession, the importance of effective communication, and strategies for fostering self-awareness within family dynamics.
The conversation dives deep into the challenges of managing business transitions, the significance of storytelling in understanding family history, and the essential tools needed to navigate these often difficult processes.
Patti’s practical advice and empathetic approach offer invaluable guidance for both senior and junior generations in family businesses.
00:00 Introduction and Family Dynamics
00:37 Meet Patti Durand
01:29 Patti's Role as an Encourager
03:19 Understanding Amygdala Hijack
05:01 Family History and Communication
09:58 Patti's Background and Career Journey
14:17 Challenges in Family Business Succession
21:36 The Importance of Asking for Help
25:02 Navigating Difficult Family Conversations
33:06 The Future Leader Book
35:25 The Importance of Succession Planning
35:56 Empowering the Next Generation
38:18 Navigating Difficult Conversations
41:26 The Role of Leadership and Accountability
47:08 Reflecting and Personal Growth
52:15 The Power of Communication in Family Businesses
01:00:30 Influences and Formative Events
01:06:18 Conclusion and Contact Information