The Year in Review: 20 of our Favourite Quotes from 2019

2019-12-29

Universal Colors: How a Mother and her Daughters became Leaders in an Unlikely Industry — Erika, Juana and Lizbeth, image courtesy of Universal Colors.

Tharawat Magazine has the privilege to talk to inspiring family business leaders and industry experts from around the world. Their wealth of knowledge was the basis for the hundreds of articles we published this year.

To celebrate 2019, we selected 20 of our favourite quotes:

“Difficulties will always exist, but if we continue to fight and approach adversity with creative problem-solving, we are unstoppable. We must work tirelessly to turn the impossible to possible.”

– Juana Antonia Espinoza Reyes, Founder of Universal Colors

Chuck and Robin Tauck: Shaping the New Generation of Family Business Leaders — Image courtesy of Robin Tauck.

“…I see the future as an opportunity to come together for global sustainability…Private enterprises and next generations have an opportunity to bring together business and social impact on the planet, and that has not been tapped at all in my view.”

– Robin Tauck, Co-Founder of Tauck Inc

The Barrow Group: Five Generations of Construction in South Africa — John Barrow, Courtesy of the Barrow Group

“Even though I’m the oldest family member currently at Barrow, we’re all equal. This structure makes us unique. We don’t really have titles, we draw the same salary and own an equal share in the business.”

– John Barrow, Managing and Contract Director from Barrow Construction

Preparing for the Future in Perú Carlos Arbesú — Image courtesy of Carlos Arbesú.

“Vision is the most important consideration. To manifest the future they wish to see, family businesses must first have a clear picture of it.”

– Carlos Arbesú, PhD and Chair of PAD Business School’s Family Business Center

Why So Many Businesses Are Missing the AI Revolution — Image courtesy of Michael Haenlein.

“Regardless of age, hierarchy or education, learning how these systems work is a necessity. At the very least, a basic understanding of AI is a prerequisite to future success.”

– Michael Haenlein, Marketing Professor and Scientific Director, ESCP Europe Research Centre on Big Data

Family Business Health and Well-being — Ellie Frey Zagel, image courtesy of Successful Generations.

“When we work hard to achieve happiness, health and success as leaders – when we pay attention to all three simultaneously – we realise positive outcomes.”

– Ellie Frey Zagel, Founder and President of Successful Generations

How can we Prepare the Now Generation of Family Business? — Image courtesy of Felicia Heng.

“Problem-solving in the family business revolves around the ability to start conversations and build empathy…This is especially true in a world of social media, where information is public and everyone is connected. Cultivating private, meaningful interaction is more important than ever.”

– Felicia Heng, Executive Director of FBN Asia

Leadership Starts with Awareness — Image courtesy of Greg McCann.

“Successful family businesses cultivate an environment where difficult conversations can happen, and from there, everything else will fall into place.”

– Greg McCann, Coach and Founder of McCann & Associates

Trust Your Compass: Albert Bosch on Adventure, Entrepreneurship and the Environment — Albert Bosch speaking at Fundación Fyde Caja Canarias, image courtesy of Albert Bosch.

“The fate of the planet rests with intelligent entrepreneurs who view their needs and the needs of the environment as one.”

– Albert Bosch, Adventurer and Managing Partner of INVERGROUP

“Some think that we have to discard the past in favour of the future when innovating. What we found is that these long-standing family firms adapted their product and business over time while preserving the traditional elements at the core of their identity.”

– Irmak Erdogan, PhD and Assistant Professor at the School of Business Administration at Altinbas University, Turkey

Monkey Business Catering – a Family’s Non-Linear Road to Success — [L-R] Malcolm, Amy, Ben, Kristina and Matthew Thompson, courtesy of Monkey Business Catering

“We can’t control our environment as entrepreneurs. Instead, we must extract the useful elements and work with them. For us, failure is simply not an option.”

– Amy Thompson, Owner and Manager of Monkey Business Catering

Henri Willig: Artisanal Cheese in the Age of Automation — Martin Willig, image courtesy of Henri Willig Cheese.

“A lot of competitors have the story but do not offer a satisfactory product, while large corporations make a decent product but lack the story. We have beautifully crafted cheeses as well as the story behind them.”

– Martin Willig, Finance Director of Henri Willig Cheese

Risks and Rewards: The Legacy of Grupo GTD — Manuel Casanueva, image courtesy of Grupo GTD.

“Regardless of their role in the organisation, I want my children to learn to take risks. Seeing their decisions pan out for better or worse is experiential learning, and it will help them build their instincts and confidence.”

– Manuel Casanueva, Grupo GTD’s Founder

Tanweer: Resilience and Adaptability — Joseph Samaan, image courtesy of Tanweer.

“Over the course of growing a business, a clear pattern develops – when you love your people, both employees and clients, they will love you back.”

– Joseph Samaan, Founder and CEO of Tanweer

Odd Couple: Building Success in the Heart of the Canadian Prairies — Andy Yuen, image courtesy of Odd Couple.

“Immigrants have a lot of expectations to live up to. They also see differences that people who have lived in one place their entire lives don’t.”

– Andy Yuen, Founder, Odd Couple

“Increasingly, young people are looking for opportunities outside of the office and would rather do something with their hands. They can stand by the products they make and have the satisfaction of knowing their handiwork will likely endure into the next century.”

– Adam Brånby, CEO of Gränsfors Bruk

Riluc: A Renaissance in Portuguese Furniture — Ricardo Lucas. Image courtesy of Riluc.

“The trust my father placed in me allowed me the level of freedom needed to reinvent the family business. Despite my youth, I demonstrated the expertise required to gain the confidence of both our employees and partners.”

– Ricardo Lucas, CEO of Riluc

Humtown: Visual Earning in Manufacturing — Mark Lamoncha, image courtesy of Humtown.

“I’m passionate about unleashing the most significant source of untapped energy potential on earth – human potential. This means empowering employees by giving them the necessary tools for self-management.”

– Mark Lamoncha, President and CEO of Humtown Manufacturing

Jetwing: Sri Lanka's People-Centric Hospitality Giant — Hiran Cooray, image courtesy of Jetwing.

“Much of our talent is homegrown; even though they don’t have equity in the business, they work as if they do, taking an entrepreneurial interest in the company. We are as loyal to them as they are to us.”

– Hiran Cooray, Chairman of Jetwing Symphony PLC

“We’ve had to restructure, redesign and relocate. Over the last four years, we’ve changed everything – including the culture…In South Australia at least, the fourth generation is often tasked with rebuilding the family business to weather the modern commercial climate, and that’s exactly what we’re doing.