{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Secrets of Thriving Family Businesses | The Family Biz Show Ep. 99","description":" What allows some family businesses to survive for generations while others struggle to make it through a leadership transition? The answer isn't just strategy. It's trust. It's communication. And sometimes, it's learning how to let go. "How do I know when it's time to step aside?" "Am I preparing the next generation well enough?" "How do we keep family relationships healthy while running a business together?" "What happens when the company outgrows the founders?" "How do we preserve the legacy without holding back the future?" This conversation offers powerful answers. In this episode, Michael Palumbis sits down with Derrik Kassebaum of Cosmos Corporation, a family-owned company that grew from a basement startup into a global organization serving customers in more than 70 countries. Derrik shares the lessons learned from building a business alongside his father and brothers, navigating family dynamics, growing through adversity, and ultimately helping transition leadership to a new generation. His story reveals why some family businesses continue thriving while others become trapped by the very success that built them. About Derrik Kassebaum Derrik Kassebaum helped grow Cosmos Corporation from a small family operation into an internationally recognized company whose products are sold around the world. As a second-generation family business leader, former Vice President of Sales and Marketing, author of Live and Let Go, and long-time steward of the family enterprise, Derrik brings decades of firsthand experience in leadership, succession, ownership transition, and family business growth. The Core Insight Many family businesses struggle not because they lack talent, vision, or opportunity. They struggle because leaders hold on too tightly. The same instincts that help founders build a business can become obstacles when it's time to empower others. Thriving family businesses learn how to balance stewardship with trust, preserving values while embracing change. Practical Value This episode provides real-world insights on succession planning, leadership transition, ownership structures, communication, and creating a family business culture that can survive across generations. You'll hear practical lessons from a family that successfully navigated growth, tragedy, transition, and legacy planning while remaining focused on purpose and values. One of the most powerful lessons Derrik shares is simple: Focus on your "why" more than your "get." That mindset helped guide leadership decisions, ownership transitions, and the long-term stewardship of the business. In This Episode, You'll Learn: Why letting go is often the key to sustainable family business growth How to transition from founder-led leadership to professional management Why family members should earn opportunities based on merit How purpose-driven leadership strengthens multigenerational businesses Why communication is often more important than ownership structures How to prepare future generations for responsible ownership Why thriving family businesses stay focused on their mission during times of change How humility and trust help families navigate difficult transitions Why preserving family relationships matters more than winning business arguments Continue the Conversation Enjoyed this episode? Discover more conversations, insights, and practical strategies for family business owners, next-generation leaders, and advisors on The Family Biz Show. \ud83d\udc49 https:\/\/www.familybusinessflywheel.com\/podcast Explore additional episodes covering succession planning, family governance, leadership transitions, communication, ownership, and building a lasting family business legacy. ","author_name":"The Family Biz Show","author_url":"https:\/\/www.familybusinessflywheel.com\/podcast","html":"