Do you have a strong matriarch or patriarch? Do you have more drama in your family business than is healthy? Do you know someone who has sued a family member? If you answered “yes” to any of these questions, this episode is definitely for you.
Doug Box, 2nd generation of Box Energy Corp, experienced all of these things and more.
In fact, Doug’s life pretty much reads like a Hollywood movie. He shared many of the details in his recent book, Texas Patriarch: A Legacy Lost and I was thrilled for the chance to interview him and talk about his experience specifically through the family business lens.
Learn more about Doug at douglasdbox.com
In this episode:
- The rags to riches story of Cloyce Box—from a child of the Depression, to a Marine, professional football player, and prolific businessman
- A look at life in the shadow of strong, charismatic Patriarch
- How a rift between brothers tore a company apart
- Straight talk about advance planning, advisors and recognizing conflicts of interest
- What Doug Box says he wishes he could have done differently
- Lessons learned and ideas for raising today’s next generation of family business
In 2014, Doug published his first book, Cutter Frisco – Growing up on the Original Southfork Ranch. In the fall of 2016, Doug released a second memoir, Texas Patriarch – A Legacy Lost. Doug has been featured in a number of newspaper and magazine articles, and has made appearances on network television and radio.
In 2005, Doug formed Box Family Advisors, based in Dallas, Texas to help privately held family businesses with succession planning, corporate governance and dispute resolution. Doug brings personal experience to his understanding of family dynamics. As the youngest of four sons, he grew up and worked in his family’s enterprise.
The Box Family controlled a number of public and private companies with interests in oil & gas, cement manufacturing and real estate. Following his father’s sudden death and a litigious four-year family ordeal, Doug and his brothers were forced to sell their family’s flagship oil & gas concern, Box Energy Corp.
Doug received an MBA with honors from Baylor University, and a Master of Arts in Dispute Resolution from Southern Methodist University. He holds a Certificate in Family Business Advising from the Family Firm Institute. Doug also obtained bachelor degrees in Business Administration and in Radio, TV, Film from the University of Texas at Austin.
Notable & Quotable:
These are lessons learned from a family business tragedy. —Douglas D. Box #successfulgenerations
When you combine your family enterprise with wealth, money, identity and occupation you are touching a lot of nerves.These are treacherous, combustible waters. We didn’t handle it carefully and it blew up in us. —Douglas D. Box #successfulgenerations
My passion is helping other families avoid the mistakes we made. —Douglas D. Box #successfulgenerations
They don’t make Rogaine for the family tree. —Douglas D. Box #successfulgenerations
Accountability is the key to staving off entitlement. —Douglas D. Box #successfulgenerations
My dad was a leader, not a teacher. A lot of his values died with him. —Douglas D. Box #successfulgenerations
Resources mentioned in this episode:
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