Feb 13, 2023
Jennifer Strom, MBA, MA, is a consultant with The Family Business Consulting Group (FBCG), specializing in helping multi-generational enterprising families navigate complex family dynamics. An accomplished entrepreneur with a retail, design, and wholesale background, she merges her business strategy experience with her formal training and private practice as a Marriage and Family Therapist.
She understands and comfortably navigates the impact of wealth and business ownership on personal relationships, as well as the challenges, and most importantly, the potential opportunities that can accrue to a family existing in this space. She is passionate about supporting and guiding individuals and families with their struggles and concerns in navigating stressors and transitions. She is especially adept at facilitating open communication, particularly in the face of conflict and chaos, and working with clients to set and meet goals with a strategic mindset and attention to their values.
Jennifer believes that family relationships, history, culture, and values should drive any work that creates structure in complex family systems. She engages in all work with clients through the lens of relationships as a priority, working to support individuals and families feel more successful both personally and professionally.
Jennifer holds a BA in History and Romance Language from the University of Pennsylvania, an MA in Marriage and Family Therapy from Fairfield University, and an MBA from Northwestern University Kellogg School of Management.
What You’ll Learn
● How family dynamics can complicate business.
● Why it’s important to learn about engaged ownership.
● Thinking about succession as “why” rather than “when”.
● When it’s time to start working with an advisor.
● How to rewrite the story to maintain family harmony.
● The importance of maintaining healthy conflict through communication.
Timestamps
· [03:51] Why is family business more complicated than just business?
· [07:07] How narratives can be woven into the family business experience.
· [13:00] Shifting truth to achieve unique outcomes.
· [18:11] Identity and succession planning.
· [22:08] When to start thinking about succession.
· [30:48] The right time to work with Jennifer.
· [35:16] The “we’ll wait it out” narrative.
· [39:36] When a family member refuses to work with an advisor.
· [43:30] Maintaining family harmony.
· [44:33] Healthy conflict and communication.
Memorable Quotes
· “We each create our own truth.” – Jennifer Strom [13:23]
· “Engaged ownership is a really important dynamic that can happen at any time.” – Jennifer Strom [25:24]
· “Having these conversations proactively is way safer than waiting til they blow up.” – Jennifer Strom [26:55]
· “You can choose what you take, and you can choose what you bring forward.” – Jennifer Strom [34:57]
· “If we do our jobs well, we work ourselves out of our role.” – Jennifer Strom [38:25]
· “If you believe that change isn’t possible, change may never be possible.” – Chris Yonker [42:26]
· “It’s what’s unsaid that creates the biggest problems.” – Chris Yonker [45:31]
· “If we all cant accept responsibility, then we become victims of circumstance.” – Chris Yonker [49:38]
Resources:
Social Media
Websites
FBCG.
Email: strom@thefbcg.com