Tricia Wallwork’s Post

View profile for Tricia Wallwork, graphic

Chair & CEO of Milo's Tea Company, Inc.

“Luck is what happens when preparation meets opportunity," said Seneca. It is tricky, tireless work to ensure a #familybusiness has the governance needed to preserve family harmony, AND run a great, enduring business for generations. It's a lot lot easier to align when the business is small, because those who needs to know are either in the break room or at the kitchen table. When you have grown into the #1 Refrigerated Tea Brand in America and the fastest growing lemonade like we have at Milo's Tea Company, Inc., it takes a thriving ecosystem of remarkable coaches, advisors, independent directors, and thoughtful TEAm members to drive exceptional governance. One big piece of governance is education and succession planning for NextGens and spouses that married in. So, when we were all in #Birmingham for Thanksgiving a few weeks ago, we hosted a Family Meeting with owners, spouses, and kids led by advisors and key TEAmmates. What do you do at a Family Meeting? Business, first, of course. We educate about our company, industry, and governance. This meeting, we enjoyed a plant tour of our #Homewood manufacturing and distribution center. Then, we met about the duties and responsibilities of ownership. We acknowledged that the duties for family members to interact with the business are even greater that other associates. And, we shared the reality that it's not just going to be "inherit," there has to be merit, hard work, and contribution to be ready, and to overcome assumptions that DNA got you a job, an internship, or an opportunity. Next up, had to be a little fun too so we headed to Topgolf for a some healthy competition on the course. (Yes, I lost 🤣 ). It's important to talk to kids early about family business because this is a very long journey. I'm not sure what will happen with my kiddos. But I am sure that it's the right thing to educate loudly, repeatedly, and early-on that with great opportunity comes even greater responsibility. If you're not ready when that opportunity comes, it will fly past you, especially if it is on a rocket ship like Milo's. What do you do to help yourself or others be game day ready if that opportunity comes? #BrewingALegacy #DrinkMilos Carlton Wallwork

  • No alternative text description for this image
MD. JUBAYER AHMAD JAKARIYA

Professional Digital Marketer | YouTube Expert | YouTube ads & Video SEO Specialist ||

9mo

Tricia Wallwork, Impressive insights, and kudos to Milo's Tea Company for fostering a culture of continuous learning and family involvement! 🌱 The emphasis on education and succession planning reflects a thoughtful approach to sustaining success. The Family Meeting concept, blending business education with a touch of fun, is brilliant. How do you balance the educational aspect with creating an engaging experience for the NextGens? 🚀

Michael Palumbos ChFC, CBEC

I guide family-owned businesses and family wealth across generations.

9mo

Fantastic post! Your commitment to governance, education, and succession planning in your family business is truly commendable. It's evident that Milo's Tea Company, Inc. is more than just a business, it's a legacy. Your journey, the unique challenges and rewards of running a family business, would certainly provide valuable insights to many. Keep up the great work!

Scott Green

Selling Smiles and Making Candy . Check out our Pucker Powder and Pucker Powder BITS

9mo

Wise words

Jack Shedd

Executive Vice President at Hoffer Plastics

9mo

Tricia, I love how you lead. This intentional family gathering and agenda is inspiring. Your kiddos will be great when it is their turn. You have created a recipe for success and the apple does not fall far from the tree. I hope you have a great 2024, Jack

Your commitment to getting the next generation prepared sends an important message to your recruits and employees.

Fuzail Gader

Create Media Agency | A Filmmaker & Marketer curating strategies to achieve client goals! Blockchain Believer | Cryptomaniac

9mo

Wouldn't be easy working to keep the family business keep it's legacy! Congratulations on being a great leader. And dw you're not the only one losing to your mates at top golf 😂

Ryan Sanislo

People and Process Focused Lean Manufacturing Leader

9mo

Very well put.

Like
Reply
See more comments

To view or add a comment, sign in

Explore topics