Raising Children in a Family Business with Jeff Foy

The Secret Thoughts of CEO's Podcast

I’ve had the honor to have Jeff Foy and his family as friends for many years. I have grown to love his family and the values they choose to live by in their business and personal lives. They navigate the waters of a family business with integrity and alignment. In this episode talk about how they make decisions around the business, their daughters, and their daughter’s potential future participation in the business. As I’ve gotten to know Jeff, I’ve seen how he consciously navigates the business and raising his family in a values-centered way and am excited to share this conversation with you.

What you’ll learn in this episode:

• How expectations from a young age can be detrimental in a family business
• Specific challenges of Baby Boomer leaders transitioning to Gen X leadership
• Perspective on being the last sibling to join a family business
• Raising children to decide what fulfills them without pressure to join the business
• How family businesses encourage entrepreneurship in the family
• Detaching ego from the family legacy
• How many parents with good intent actually rob their children of opportunity
• The number one rule of communication in a family business
• One of the biggest harmful assumptions in members of a family business

Resources:

Website- https://www.foyinsurance.com/

LinkedIn- https://www.linkedin.com/in/jeff-foy-88058a8/

Bio:

Jeff started with Foy Insurance in 1987 following a brief stint in commercial real estate after graduating from UNH. He strongly supports advocacy for Foy clients and the independent agency system. Jeff has participated for years in insurance legislative efforts for agents and consumers in NH and in Washington DC. Jeff earned the Accredited Advisor in Insurance certification in 2010 and, in 2011, the NH Hero Award. Jeff enjoys traveling and learning about wine with his wife Melissa and his adult daughters Allison and Jessica.