Helping Family Businesses Thrive

Posted by GCW Capital Group Principal,Tom Waring

A year ago I had a chance encounter with a woman in an airport that resulted in a most interesting conversation.

Mitzi Purdue

Mitzi Purdue

As it turned out, the woman was Mitzi Henderson Purdue. If her last name sounds familiar, it may be because she is the widow of poultry magnate, Frank Purdue. However, her maiden name of Henderson may also ring a bell as her father was, Ernest Henderson, co-founder of The Sheraton Hotel Chain.

These days Mitzi is earning her own renown as the head of her family's successful wine grape business, one of the larger wine grape suppliers in California. Additionally she has become a respected author on a topic she knows well----helping families in business communicate, thrive and sustain through generations.

As Mitzi and I became acquainted, I shared with her my background in financial advising and the evolution of my company to GCW Capital Group. Where we really connected though was when I shared the story of a branch of my business I launched several years ago called, Family & Business Directions, LLC.

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As I explained to Mitzi, I launched the separate entity after years of watching families work together to establish and advance their businesses, only to fail in accomplishing any sort of transition planning between the generations to ensure continued success.

That topic immediately bonded Mitzi and I in friendship and since our fortituous airport meeting, we have been working on collaborative projects

Recently Mitzi approached me about guest-writing a column for her in Family Business Magazine. It is the only North American multimedia publication dedicated to serving the unique information needs of multigenerational family businesses, by providing news, profiles, expert advice and thought-leadership to foster business continuity and family harmony.

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After some discussion, Mitzi and I agreed that I would focus my article on choosing the right trustee to manage the estate of a family business.

I was honored by Mitzi's consideration of my expertise in this area and appreciated the opportunity to express my thoughts on a national forum.

If you and your family are trying to work through perosnal or professional end-of-life planning, why not consider including an objective third-party in your discussion?

From my years of experience in such mediation, the peace of mind and close-knit family relationships that result are well worth your investment.

To read my Family Business article, click here.

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GCW Capital Group Founder and Principal, Tom Waring has spent almost four decades building his business, serving as a board member for not-for-profit and public companies and as Chairman of the Evans Bank Compensation Committee. In that time, Tom has become expert in the following

GCW Capital Principal, Tom Waring, receiving award from Lawsuit Reform Alliance of New York.

GCW Capital Principal, Tom Waring, receiving award from Lawsuit Reform Alliance of New York.

 Core wealth creation, preservation and transitions

 Estate planning and charitable giving

 Family business dynamics and governing

 Mission and vision development

 Strategic planning

 Business leadership succession

 Surfacing core values

 Planning, design and implementation

If your business, organization or group is looking for a speaker for your next event, Tom can tailor a presentation to suit your audience, using concepts and terms that will allow all in attendance to relate. Following the presentation Tom will further engage audience members in a question and answer session that will encourage interaction and participation.

To schedule Tom as a speaker for your event, or for more information, call 716.256.1682*