The Third Layer
The Third Layer
Podcast Description
The Third Layer is a podcast crafted for family-owned business owners and leaders who truly understand the intricacies of navigating a business where family and leadership intersect. Hosted by Marshall Lockton, who has lived the family-owned business experience from various leadership viewpoints, guests share what they’ve learned about what makes family business leaders uniquely able to lead with culture. The podcast zeroes in on the greatest leadership lessons about culture learned throughout the career of a seasoned family business leader. We uncover how that one pivotal insight transformed them and influenced everything they do. We go beyond the first layer and ask the leader to help the audience really understand why the lesson was so important to them and how it applies to different facets of their business(es) and life. Through personal stories and expert reflections, listeners gain practical wisdom and inspiration to lead with impact, create cultures that connect stakeholders, navigate challenges unique to family business, and carry forward the legacy of their family business.
Podcast Insights
Content Themes
Key themes of The Third Layer include leadership development, culture building, personal stories, and legacy creation within family businesses. Episodes feature discussions on critical topics such as the transition of leadership in family business after loss, the significance of purpose-driven leadership, and fostering high-performance cultures, exemplified by episodes like 'Building A Legacy: Leadership In Family Business With Tyler Nottberg' and 'The Heart of a Caregiver with Andy Eby'.
The Third Layer is crafted for family-owned business leaders who understand the intricacies of navigating a business where family and leadership intersect. Host, Marshall Lockton zeroes in on the greatest leadership lessons.
This episode features Meghan Juday, Chairman of the Board, and Mary Nicoletti, Family Council Chair, discussing the evolution of governance and culture within Ideal Industries, a 100-year-old global manufacturing company. As a fourth-generation leader, Ms. Juday recognized that the family’s governance structure, while policy-driven, lacked the “heart and soul” necessary to connect the increasingly dispersed family (44 members across G3, G4, and G5) to the business. The conversation details the essential shift from transactional governance to one focused on intentional relationship-building and strategic partnership with the operating company.
Key Themes: Evolving Governance for Engagement
Addressing System Dynamics
Strategic Board Leadership
The Power of the Silent Majority
Family as a Cultural Asset
Intentional Stewardship
Timestamps: 00:51 – Founding of IDEAL Industries and the commutator stone story
03:53 – IDEAL’s elevator pitch: electrical connections and battery charging
04:39 – Family assembly, family council, and education committee overview
06:56 – Board leadership across generations and use of independent CEOs/chairs
09:31 – Meghan’s background at St. John’s College and consulting at CSC
11:53 – Meghan’s first project reshaping family governance to engage Gen 4
12:50 – Shifting from policy driven to strategic, building Gen 4 and Gen 5 connection
26:35 – Recognizing dysfunction and pursuing family therapy alongside governance
31:15 – Selecting a licensed family business therapist with governance expertise
35:59 – Therapy outcomes: addressing transference and empowering the silent majority
38:51 – Tools for healthy voice and hard decisions (task forces, skill building)
53:46 – Reshaping the board for strategic value and higher ROI for management
57:52 – Family’s role in employee culture and onboarding, reporting through HR
62:23 – Defining stewardship for Gen 5 as modest sacrifices for future generations
Additional Resources:
Meghan Juday,Chairman of he Board, IDEAL INDUSTRIES, INC: https://www.linkedin.com/in/meghanjuday/
Mary Nicoletti, Director, Family Office & Family Council Chair, IDEAL INDUSTRIES, INC: https://www.linkedin.com/in/marycnicoletti/
Connect with Marshall on LinkedIn
Follow PeopleForward Network on LinkedIn
Learn more about PeopleForward Network
Disclaimer
This podcast’s information is provided for general reference and was obtained from publicly accessible sources. The Podcast Collaborative neither produces nor verifies the content, accuracy, or suitability of this podcast. Views and opinions belong solely to the podcast creators and guests.
For a complete disclaimer, please see our Full Disclaimer on the archive page. The Podcast Collaborative bears no responsibility for the podcast’s themes, language, or overall content. Listener discretion is advised. Read our Terms of Use and Privacy Policy for more details.