The Multi-Generational Family Business

Описание: Only 10% of family businesses make it to the fifth generation. Rex Templeton's family beat those odds.

In this episode, Barbara sits down with Rex, fifth-generation leader of Morris and Templeton Insurance, for an honest conversation about navigating family dynamics, maintaining core values across generations, and the difficult decision to sell a legacy business after more than 40 years of family ownership. Rex shares powerful stories about integrity, the evolution of communication styles between generations, and what it takes to keep a family business healthy while protecting family relationships.

What’s in This Episode:
-Core values that transcend generations: honesty, hard work, and diligence
-The Mr. Mosley story and what it reveals about trust and integrity in business
-How communication styles change from generation to generation and why it matters
-Managing conflict resolution when family members work together
-The "eat what you kill" commission model and how it minimizes hierarchy conflicts
-Why Rex and his wife decided working together wasn't right for their marriage
-The importance of authentic community involvement without immediate business expectations
-Succession planning: why they were "10 or 12 years too late" and how they navigated the sale
-Interviewing 18 potential buyers and choosing culture fit over the highest offer
-Maintaining the Morris and Templeton name, team, and operations after the sale to Alchemy Insurers
-Advice for young entrepreneurs: protect the business entity like a family member and prioritize transparency

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