Significant changes happened over the years with the customer-bank relationships. The initial banking system developed by Alexander Hamilton had the purpose of paying for the Revolutionary war. By 1836, however, banks were motivated to get people’s money out of their mattress and introduced their version of a checking account. Although this system was proven to be a disaster with various “runs” on the bank over the years, it was the banks risky behavior leading to the crash of 1929 that cemented the mistrust of financial institutions. Once the government issued the FDIC (Federal Deposit Insurance Corporation), the consumer slowly became more confident in using banks to safeguard their money. Today with a declining 60% of their current patrons depending on banks as a primary financial institution, banks need to enhance customer understanding, innovate the customer experience and to build customer trust to keep competitive in today’s market.

Among the wide range of hobbies or interests some of us spend time on, my passion is collecting inspirational quotes. They can motivate, inspire and encourage with a “call to action.” Scientific research has shown that an inspirational quote can invigorate us to continue through the grind of tough work. As a business family, creating unity of purpose can create a close bond amongst members. Quotes can inspire by making you laugh, by being a life lesson or by promoting core values.

There is only so much time in a day, a week, a year. When we want to start something big, human tendency is to talk ourselves into the mindset of “we have time for it later.” Time to take that trip, build that house, start that business sometime later when things slow down. My husband and I often tell new parents “don’t blink,” because a newborn baby will be driving away to college before you know it. Living intentionally with your family by not missing that soccer game or dance recital will be more rewarding. Painting a picture of how you want your future self, your family, your business and your involvement in the community to look like 10 years from now is the beginning of making it come true. To dream about the future is a positive step, but making it a reality is the challenge. Often we write down our goals at the beginning of the year, a New Year’s resolution, then cast them aside only a few weeks later. In the case of 2020, many of us conveniently used the excuse of the pandemic not focus on what we really want in life. So my challenge to you is list all of the dreams you have waiting in the wings of your life.

Life is hectic with day to day activity distracting families from their business educational goals. The ability to organize and schedule a family celebration or family council meeting is only part of the challenge on the road to educational awareness and proficiency. Determining what areas need further development is a continuous process which needs monitoring for continuous improvement. With the objective of having your business family knowledgeable in a variety are areas such as governance, finance and history, how do you seamlessly continue to evolve from year to year, generation to generation?

Entrepreneurship is defined in the Oxford dictionary as “the activity of setting up a business or businesses, taking on financial risks in the hope of profit.” Other Google searches led to the Wikipedia definition as “entrepreneurship is viewed as change, which may include other values than simply economic ones.” George Washington was described as the first entrepreneur in Virginia with his revolutionary farming operation viewed as a business. But it was Benjamin Franklin who is ultimately considered the first in American entrepreneur described as “a very savvy businessman who knew how to commercialize the fruits of his fertile mind.” Another great would be P. T. Barnum with “The Greatest Show on Earth,” which is a favorite story of mine. He changed modern advertising. This repeated theme of change intrigued me. Most people resist change, but it seems to be the nature of the entrepreneurial spirit to embraces it.

Although I might be biased as a nature lover, mockingbirds are fascinating creatures. These birds cause no pain to anyone or anything—they just sing, continuously. Chosen as a book title, To Kill a Mockingbird by Harper Lee, the bird is a figurative representation of the loss of innocence. Quoting from the book, “Mockingbirds don’t do one thing but . . . sing their hearts out for us. That’s why it’s a sin to kill a mockingbird.”  The overall theme in To Kill a Mockingbird is that every human being deserves to be treated with dignity. What a wonderful message for today’s world, everyone deserves dignity.

From our first family council meeting, we encouraged our boys to ask the tough questions. How much do you make? How much is the company worth? What will I inherit? These were all questions we thought they would ask. However, the most important question on their mind was…if something happened to dad, who would run the company? No longer were we having adult to child conversations, rather an adult to adult relationship was beginning to develop.

At 17 years old, you don’t know your life’s purpose much less where you want to go to college or what to study. Growing up in Chicago, I was surrounded by top universities. What prompted me to go to college in small town Minnesota baffles me to this day. I don’t like cold and a small town at that time wasn’t for me. Although it was a good experience and met life long friends, I wanted a city life where there was action.

My parents prompted a change to transfer to Georgia Tech in downtown Atlanta to study engineering. The coordinator for new students gave the age old speech, “look to your left, look to your right, those faces will not be there after a year.” That proved to be a reality for my roommates. With the motto “To be the best,” on our door, I was determined not to be a statistic.

Growing up in Chicago I enjoyed the hustle and bustle of activity. The Sears Tower, Michigan Avenue and shopping at Marshal Fields were all part of my childhood. After meeting my husband in Atlanta, we bounced around the United States from NYC to Boston. We settled in a suburban town outside of Cincinnati to raise our children. An upper-class golf community where driving to the club via golf cart was the norm. I was selling luxury real estate in fancy dresses and heels, while my husband ran his engineering company donning his Robert Graham pressed shirts. We were living the dream.

Many people make New Year Resolutions, but break them within a few weeks or months. Those that have defined written goals, however, are proven to be more successful in obtaining those priorities. Achieving their dreams, no matter what obstacles thrown in their direction, is their way of reaching their full potential. They are living intentionally, but even the most disciplined were derailed in 2020 falling short of their objectives. Although it has become our family mantra to live intentionally, I began to ponder if it is possible to be too focused?

Tradition in our family is to celebrate major holidays together. Christmas we gather together in the morning with meaningful rituals. Beginning with opening our stockings stuffed with handy items like socks, toothpaste and the obligatory orange, we then move on to a full breakfast with French Toast Bake, sausage, eggs and fruit. After breakfast, the head of the house plays Santa, gifts are distributed and opened one by one. After a full morning, we dress for the holiday project which might be splitting wood, picking up liter or demolishing something. In the evening we proceed to a large gourmet dinner elaborately appointed with fine china, silver and crystal. Thanksgiving is similar minus the stockings and gifts. The fourth of July, however, is becoming the new gathering time with extended family. As we plan for this years 2020 celebration, we look to the past, present and future of the July 4th events.

I have always been a fan of history, however, with the current state of affairs, I started to contemplate how our core values may change through the times. After HBO Max decided to remove Gone With The Wind from their selections because they wanted to add “historical context”, my curiosity began. At first blush, I assumed a value is a value, but after some reflection, I concluded that the interpretation of that value can be a reflection of the changing times. Our family has determined our core values to be Family, Integrity, Knowledge and Perseverance. Let’s take a historical perspective on each one to see if they have evolved through the generations.

In a throw away society, old homes, to many, seem irrelevant. A structure may be perceived as stopping progress when designing and developing a community. The “Green” home trend where the focus is on the efficient use of "energy, water, and building materials", seem to exclude the homes from yesteryear. Instead, it is easier to tear down than to restore. But I would disagree since old places connect us to earlier generations and generations to come. Through success and struggles, they tell the story of who we are. A “rootedness” which helps move us smoothly through the transition of time.

During the Pandemic of 2020, I first heard this quote, “Never let a good crisis go to waste” by Winston Churchill. But what exactly does that mean? Immediately referring to a dictionary, it revealed the definition of a crisis, a time when a difficult or important decision must be made. Synonyms included words such as crossroads, turning point, critical point and moment of truth. The statement, the moment of truth, took my breathe away. But the second part, waste, it is defined as an act or instance of using or expending something carelessly, extravagantly, or to no purpose. Antonyms include flourish, thrive and purpose. So my thoughts concluded, how do we use the Pandemic Crisis of 2020 as a moment of truth with a purpose in order to flourish and thrive? Change is never easy, but during a time of crisis, change is crucial if not mandatory. Life as we know it will never be the same after COVID-19. We casually talk about the new normal, but has that really been understood? As the moment of truth is being uncovered, what is really important to us? Health, Sustainability, Family, Legacy?

As cows graze and bears sleep on the old bramble grown and forgotten cemetery, those who have served our country over generations lie forgotten. Decades of neglected maintenance left graves weathered and broken to the point of obsolescence. Once a father, son and soldier, these abandoned souls passed on leaving many grieving for a life lost through service or otherwise. Now abandoned to a stranger’s care, they seem almost forgotten. Only one worn and battered flag sat memorializing Dr. William E. Hoge who served in the Civil War. But it is not only who we remember, but how we remember them which expresses our values in believing the worth of a life. The neglect of this cemetery is unfathomable. My promise to the dead is to celebrate their life of accomplishments, service and commitment.

After more than 30 days of the “Stay At Home’ order, we all are striving to get back to a routine. Rolling out of bed in our pajamas to start our work day from home has become tiresome. Many people are bored, irritable and even depressed being cooped up in their home, but too scared to venture out even for necessities. As I sit here this rainy morning contemplating my day, I wonder what will be on my to do list. Although I feel I am one of the fortunate ones living on a beautiful 280 acre farm, my life, as with everyone else’s, has been turned upside down. We are told to sit on the couch and don’t go outside to do our part in flattening the curve. But as another year is quickly racing by, we must not let our goals and dreams get derailed be a pesky pandemic. Let’s look at this black swan event as an opportunity to accomplish some of our goals that we might not of had time for before.

You didn’t plan for a pandemic? Wasn’t the last pandemic the Spanish flu in 1918, almost one hundred years ago? Actually that is not true; the Zika virus was more recent and still present today. Most of us remember the Swine Flu from 2010 or the Ebola outbreak. This one, however, is tanking the economy and forcing the governments to issue “stay-at-home” orders globally. But epidemics are not something new. There is even a prehistoric case from 5000 years ago. Archaeologists found remains of bodies stuffed in a house which was burned. A virus that spread so quickly they did not have time for a more appropriate burial. So why didn’t your family or business have a contingency plan for something that actually happens quite frequently? No, not a pandemic, a crisis.

Social Distancing, Coronavirus, Quarantined are all things we have become too familiar with these last couple of weeks. Businesses and schools are closed, hospitals are overburdened, and we are struggling to find a new normal. We are scrubbing our hands, keeping six feet apart in groups of ten or less all in an effort to “flatten” the statistical curve of the virus. We have become a society of hoarders by clearing out grocery shelves of paper towels, cleaning products, toilet paper and the elusive hand sanitizer. People are binge watching movies, old TV shows or obsessively watching the latest news since we are being told to be a couch potato. Someone sneezing in a public place is as frightening as a person with leprosy. To combat our worst fears, the human spirit is discovering creative ways to entertain themselves. Teddy bear hunts are being developed and song parodies are going viral on social media. Although some have extra time on their hands, others need to adapt to their working environment in the confines of their abode. Some even have to juggle the additional chore of homeschooling. But through this confusion, a question occurred to me. While everyone is working from home and if this is our new normal, how can we keep our family bond if we aren’t physically together? At this moment during the Pandemic of 2020, can technology be an effective tool to keep your family productive, connected and informed?

In the midst of the Coronavirus (COVID-19), my husband and I attended a family business conference in Tampa. The virus hadn’t reached Florida until shortly after our arrival which generated alternate greetings, singing while washing hands and hand-sanitizer on every table. Not coincidentally Purell, a family business, was the sanitizer of choice. It isn’t uncommon to have an item from a fellow company adorn the table. In years past “Peeps” acted as the centerpiece the year it turned 50. But this year a utilitarian table favor seemed well suited for the event. While sitting in the main conference ballroom performing a Family Value’s exercise, I became curious about Purell’s story. What was their history, mission statement, core values and how are they managing through this crisis?

Congratulations, you have decided to form a Family Council, now what? Did the members get their position because they were family; they showed an interest; or were they selected based on predefined core competencies? Although you may now be second guessing your choices, I can tell you there is no right or wrong answer. In our case we only have first and second generation members because there isn’t anyone else. No spouses or significant others much less third generation kiddies. It didn’t, however, prevent us from determining what family council members core competencies should look like; what development activities should be considered in achieving the competencies; what on-boarding would look like for future members.