Let’s join our case story family, as Tim, who has recently inherited shares in the business, begins to learn about being an owner.

TIM

Tie up a bit?

Do I look like someone who’s about to become a major shareholder in his family business?

Look, don’t tell anyone but I know VERY LITTLE about business. My dad died suddenly of cancer and I’m about to receive a third of the shares. Whether I like it or not.

Must be unusual. Just as well you’re here to record all this.

NICOLE

My brother isn’t a business person at all. I mean, the whole idea of inheriting a third of the company is freaking him out.

But I’m going to show him why FAMILY OWNERSHIP is a privilege, an obligation and a wonderful opportunity.

You know, Tim’s a lovely guy but…

…my STEPMOM doesn’t want him around.

STEPMOM

I don’t want Tim thinking that he’s so important now that he is getting a third of the shares.

He is an amateur who can mess up this whole operation.

We’ll get along fine so long as he stays out of the way and lets me grow this company the way I want.

BILL

I thought your late husband wanted Tim to have some say in the direction of the company?

I mean, after all, it is partly Tim’s company now. He has a third, his sister has a third and you have a third.

STEPMOM

He doesn’t NEED to have any say. We are already following the most sensible strategy. We make money. And then we’re selling out to a generous buyer. Simple.

BILL

OK. You’re the boss.

STEPMOM

Don’t forget it.

TIM

At least they’re all nice people here.

My step-mom and my sister are both executives. I’m the only owner who doesn’t work in the business.

I’m sure we won’t have any conflict. Not like some family businesses.

STEPMOM

So you’ll soon be the owner of one third of this business. What does being an ‘owner’ mean to you?

TIM

I really haven’t thought much about it. It always seemed to be Dad’s thing.

STEPMOM

Well, now it’s going to be your thing. Whether you’re ready for it…or not.

Listen, you are a sensible young man who’s going to listen to my advice. The best type of owner is always ruled by his head, not his heart.

Let me warn you: there are some people who let their emotions interfere with their objectivity. And we wouldn’t want that, would we.

I knew you’d agree with me.

NICOLE

(smiling but somewhat on edge)

What does it mean to you that you’re going to be a ‘family owner’?

TIM

I haven’t thought much about it…

NICOLE

As a family owner there’s an extra element of emotional ownership that is really powerful. You and I will get the privilege of continuing Dad’s legacy and building on his work and vision.

We’re gonna be proud of this company.

TIM

Sounds like you mix your head and your heart as a family owner?

NICOLE

Yes. And that’s a good thing.