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The Family Biz Show - Episode 134

Cornell University's Smith Family Business Initiative and University of St. Thomas Family Business Center:

A conversation with Dann Van Der Vliet and Jon Keimig.

Success and time can create complexity in even the strongest family businesses.

Michael Palumbos is joined by Dann Van Der Vliet of Cornell University’s Smith Family Business Initiative and Jon Keimig of the University of St. Thomas Family Business Center to explore how family business centers help families navigate succession planning, communication, governance, next-generation leadership, and growing family complexity.

From Dann’s distinction between “little g” and “Big G” governance to the importance of trusted peer communities, this conversation shows why families shouldn’t wait for a crisis to start preparing for the future. It also explores retirement, spouses in the family business system, communication patterns, and why the systems that worked for one generation may need to evolve for the next.

A must-listen for family business owners and next-generation leaders who want to prepare while things are going well.

Succession Planning Family Communication Family Governance

"There’s never a perfect time... when things are clicking, that’s probably the best time to... plan for."

“It’s because you love each other that you need this.”

Dann Van Der Vliet & Jon Keimig

Key Takeaways

➜ The best time to prepare may be when everything is going well.
Waiting for a crisis can make important decisions more difficult. Families can use periods of stability to discuss succession, ownership, leadership, and unexpected changes with greater clarity.

➜ Good governance can begin with a conversation.
Dann distinguishes formal “Big G” governance—such as policies, boards, and bylaws—from “little g” governance, which begins with good communication and asking difficult questions.

➜ Success creates new layers of complexity.
As a family business moves from one owner to siblings, cousins, and additional generations, old systems may no longer be enough. Communication and decision-making structures need to evolve with the family.

➜ Preparing the next generation doesn’t mean pressuring them to join.
Education can help younger family members better understand their choices, the business, and their family’s expectations so they can make informed decisions about their future.

➜ Family business centers can provide something families often need: trust and community.
Peer groups, educational programs, research, and relationships with other business families can create a setting where owners and family members discuss challenges they may hesitate to raise elsewhere.

Guests Appearing in this Episode

Dann Van Der Vliet
A family business educator with more than two decades of experience, Dann works with Cornell University’s Smith Family Business Initiative, supporting family business students, owners, executives, and families through education, research, and programming.
➜ Website

➜ LinkedIn

Jon Keimig
Leads the Family Business Center at the University of St. Thomas, where he works with family businesses through educational programs, peer groups, and resources designed to help families navigate communication, governance, leadership, and transition.

➜ Website