Complexities of Family-Owned Businesses With Eva Wathén

Dec 14, 2022

Today we are joined by Eva Wathén, who works with family-owned businesses to help them navigate the inherent complexities and form a united company. Her firm works to create a solid organizational culture. Eva discusses techniques her team uses to support evolving businesses and provides examples of when a family-owned business may bring in a third party to help with strategy. She encourages companies to look at its values, vision, and past and future legacy. Tune in today to learn how to move your company forward with solid momentum.  

 

IN THIS EPISODE 

 

• [1:48] Eva explains why she is crazy about “Organizational Culture.” 
• [3:16] What a healthy versus unhealthy family business culture looks like. 
• [6:12] What tools and techniques does Eva use to help businesses change their ways in order to succeed? 
• [8:06] What does it look like to view the family separately from the business, and how to identify where they intersect? 
• [10:05] How to deal with love, money, and power - how does this affect family businesses?  
• [11:23] When would a family system model be used instead of bringing in a third person? 
• [13:03] Eva describes the type of situation she would be brought in for.  
• [18:23] Eva tells us about her experience in her own family business.  
• [20:24] Eva shares the findings she gathered in her last dissertation about family businesses.  

 

KEY TAKEAWAYS 

 

• There are four areas to look at in a business to ensure success—the first being the direction and mission of the company. Make sure clear values are in place. Improve involvement from all employees by getting them excited and defining roles. Lastly, review the external focus, customers, and partners.  
• Determine the legacy and the direction of the business. Uncovering why the business exists will help the next generation feel connected. To do this, the company often needs to review its mission when the business was created and then determine how it can be continued moving forward.  
• A family business is all about continuity. Problems usually arise when continuity is challenged. This is why values are so important. 

 

RESOURCES: 

 

Beyond the Balance Sheet Website 

 

Bravemotion Website 

 

BIO: 

 

Eva Wathén is the co-founder of Bravemotion Oy and a third generation family business owner/board member and adviser (ACFBA, FFI). She aims to engage in meaningful interactions that support mutual growth and move ahead. Sustainable and resilient development of individuals and organizations is her passion and source of continuous learning.  Her special focus is on the promotion of family business, social and human capital. She also acts as a mediator to ensure smooth communication between family and business systems. 

She is a certified executive coach (ICF) and holds an eMBA and an MSc in Applied Psychology.  

She is married and has three adult daughters, and whenever she finds some time off, you will find her outside in nature or reading / listening to books.