Through personal stories and expert reflections, listeners gain practical wisdom and inspiration to lead with impact, create cultures that connect stakeholders, navigate challenges unique to family business, and carry forward the legacy of their family business.
Anne E. McGregor, a fourth-generation owner of Herschend Entertainment, the family behind Silver Dollar City, offers insights into their transition from family operators to engaged owners. Her grandparents, Hugo and Mary Hershend, founded the business by purchasing a cave in the Ozarks for tourism in 1950, which later evolved into Silver Dollar City in 1960. Anne’s father, Pete, and uncle, Jack, further developed the enterprise, notably contributing to the “boom” of Branson by realizing the community needed to grow with them to provide amenities for visitors. Today, the Herschend family emphasizes intentional family engagement and governance to ensure the business’s long-term stability and success, with a non-family CEO since the 1990s. Anne plays a pivotal role in strengthening family connections through philanthropic initiatives via their “Neighbor” company, which also serves as a unifying platform for over 60 family members across multiple generations. The family’s purpose is “bringing families closer together,” and they strive to live their mission of “live, love, and serve together” through their business and family structures.
Key Themes: Intentional Governance and Family Stability Culture of Connection through Family Meetings Philanthropy as a Unifying Force Next-Generation Education and Engagement Learning from Peers People-First Purpose and Legacy
Timestamps: 01:06 – Founding story of Herschend and Marvel Cave 06:31 – Growing up in a theme park-owning family 08:05 – Branson’s boom and role of community collaboration 12:30 – Anne’s background and early career 13:26 – Creation and purpose of Share It Forward 15:46 – Beginning of philanthropic work and founding of Neighbor 19:46 – Family governance: structure of the Family Council 24:19 – Family Office and programming for unity 30:25 – Family meetings and intergenerational bonding 37:38 – Future Owners Group (FOG) and mentoring the rising gen 48:58 – Community impact through Neighbor and family giving
Additional Resources:
Anne McGregor, Chairperson, Neighbor Company: https://www.linkedin.com/in/anne-mcgregor-5bbabb166/
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Marshall Lockton
The Third Layer is a podcast crafted for family-owned business owners and leaders who truly understand the intricacies of navigating a business where family and leadership intersect. Hosted by Marshall Lockton, who has lived the family owned business experience from various leadership viewpoints, guests share what they’ve learned about what makes family business leaders uniquely able to lead with culture. The podcast zeroes in on the greatest leadership lessons about culture learned throughout the career of a seasoned family business leader. We uncover how that one pivotal insight transformed them and influenced everything they do. We go beyond the first layer, and ask the leader to help the audience really understand why the lesson was so important to them and how it applies to different facets of their business(es) and life. Through personal stories and expert reflections, listeners gain practical wisdom and inspiration to lead with impact, create cultures that connect stakeholders, navigate challenges unique to family business, and carry forward the legacy of their family business.