Family businesses are powerful engines of growth, legacy, and wealth—but they’re also complex, emotional, and sometimes volatile. In this episode of The Inside BS Show, Dave Lorenzo and Nicola “Nicki G” Gelormino sit down with global family business consultant and CEO, Oscar Paez, to explore the unique challenges and opportunities that come with running and advising family-owned enterprises.
Oscar shares stories from his own experience as a second-generation CEO in Colombia, his work with family businesses around the world, and how disciplines like conflict resolution, governance, and even scuba diving influence his approach to leadership and transition planning.
This is a must-listen for business owners, advisors, and anyone navigating the blurred lines between family and business.
What You’ll Discover Today
- How Oscar’s early experience in his family’s agricultural and feed manufacturing business shaped his career in family enterprise consulting.
- The dynamics of family versus business roles—why being “the son” or “the daughter” complicates hiring, pay, and expectations.
- The three critical systems every family business must balance: family, business, and ownership.
- Why conflict resolution looks very different in family businesses than in corporate environments.
- The importance of clear governance—family governance and business governance are not the same thing.
- How real estate often becomes the hidden wealth engine in multi-generational family businesses.
- Why transition planning (not just succession) is essential for founders whose identities are deeply tied to the business.
- How advisors (lawyers, CPAs, wealth managers) often miss the mark with family businesses—and how they can serve these clients better.
- Oscar’s surprising connection between scuba diving, leadership, and managing risk.
Key Topics Discussed
- Identity and Legacy: Why founders often resist stepping back and how to honor their role while preparing for the future.
- Culture and Fairness: How treating family employees differently impacts organizational culture.
- Advisors’ Blind Spots: Common mistakes professionals make when advising family-owned enterprises.
- Conflict Resolution Frameworks: Tools for solving disputes when “you can fire someone from the business, but you can’t fire them from the family.”
- Education & Networks: The best organizations, networks, and resources for family businesses and their advisors.
- Personal Perspective: How scuba diving, aviation, and global consulting inform Oscar’s unique approach to family business strategy.
Links and Resources
Call to Action
Buy the 60 Second Sale Book: The 60 Second Sale on Amazon
