EFBC Member President’s Message:

Beyond False Harmony

In the past, I have mentioned The Five Dysfunctions of a Team by Patrick Lencioni, a framework many of us in EFBC are familiar with. We explored the first dysfunction in absence of trust. Today, I want to talk about the second, which is a fear of conflict.

When trust is strong, people feel safe enough to speak their minds. But when that trust is shaky or never fully formed, teams avoid real conversations, and we settle for false harmony.

For many of us, that’s not surprising. We’ve been trained, consciously or not, to keep the peace. Don’t make waves, don’t challenge the group, and there’s often even an unspoken agreement: Don’t cause conflict for me, and I won’t cause conflict for you.

That silent agreement can feel like protection, but it’s actually a trap. Because when we avoid conflict, we avoid clarity. We dodge the truth, and that sacrifices alignment and growth.

But conflict, when it’s rooted in trust and purpose, isn’t dysfunction — it’s discipline. It’s how teams clarify what matters, it’s how we as leaders grow, and it’s how organizations break through to the next level.

So here’s what I want to offer this month:
It’s a reminder that disagreement doesn’t have to be divisive — it can be clarifying. What it means is that people care enough to be uncomfortable. It means that they’re paying attention. And the most effective leaders and the most cohesive teams don’t fear conflict. They embrace it with respect, structure, and a shared intent.

So ask yourself:

  • Is there a conversation you’ve been avoiding?

  • Is there tension hiding under the surface, pretending to be alignment?

  • Is there someone on your team who needs to know it’s okay to speak up?

At EFBC, we talk about vulnerability and growth, and this is where they meet.
Let’s keep building trust. Let’s welcome the kind of conflict that makes us stronger. And let’s keep growing as leaders, even when the conversations are hard.

Thank you for being part of this community.
I’ll see you soon.

Joel Spencer
EFBC President 2025-2026

At a recent EFBC event featuring communication expert Colette Carlson, we explored many of these same themes around communication, trust, and psychological safety in leadership teams.

A few insights that stood out:

• Only 26% of leaders are actively creating psychological safety for their teams.

• Google’s Project Aristotle identified psychological safety as the number one predictor of high-performing teams.

• Teams with high levels of trust consistently demonstrate stronger collaboration, innovation, and engagement.

As Colette shared during the event:
“How we receive someone’s truth determines if we will ever hear from them again.”

Creating space for honest conversations is not always comfortable, but strong teams are built when people feel safe enough to speak openly, challenge ideas respectfully, and work through conflict together.

Joel Spencer

EFBC President

Wearing Many Hats: Leadership Lessons from Colette Carlson

Last week, EFBC welcomed communication expert and keynote speaker Colette Carlson for an evening focused on one of the most important challenges leaders face today: how to stay connected, communicative, and emotionally aware in a world that is changing faster than ever.

Connection Requires Intention

The conversation centered around a simple but powerful idea: connection requires intention.

As leaders, it can be easy to default to control, certainty, and assumption, especially during times of pressure or change. But throughout the evening, Colette challenged attendees to think differently. Real connection, strong leadership, and healthy workplace cultures often begin with the willingness to let go of always needing to be right or in control.

“You need to let go so others can grow.”

That message resonated deeply with many in the room, particularly in the context of family and entrepreneurial businesses where leadership can become closely tied to identity, habits, and long-standing ways of operating.

Colette encouraged attendees to examine how self-awareness shapes communication.

“Our way isn’t always the right way,” she shared. “It’s just another way.”

That mindset creates room for curiosity, stronger collaboration, and more meaningful conversations across teams and generations.

The “Many Hats” Leaders Carry

One of the most memorable moments of the evening came during an interactive exercise involving EFBC intern Luv, who volunteered to participate in a visual demonstration on leadership pressure and communication.

As responsibilities, expectations, interruptions, and competing priorities continued to pile on throughout the exercise, the audience laughed in recognition at how accurately it reflected the realities many leaders experience every day while “wearing many hats.”

The activity served as a reminder that behind every leadership role is a person often carrying far more than others realize. It also reinforced one of the evening’s larger themes: leaders who communicate intentionally and create supportive environments help prevent that weight from becoming isolating.

Creating Psychological Safety

A major focus of the discussion was psychological safety and the role leaders play in creating environments where people feel safe to speak honestly, contribute ideas, and communicate openly.

Referencing Google’s Project Aristotle research on high-performing teams, Colette shared that only 26% of leaders are actively creating psychological safety for their teams.

The takeaway was clear: leadership today is less about people “watching their back” and more about creating cultures where employees feel others “have their back.”

Colette also emphasized that how leaders respond to honesty and vulnerability directly impacts whether employees continue speaking up in the future.

“How we receive someone’s truth determines whether we will ever hear from them again.”

For leaders, that means creating workplaces where honesty is met with openness rather than defensiveness, and where people feel respected enough to continue contributing ideas, feedback, and concerns.

Communicating Through Change

Another important theme throughout the evening was communication during change.

As businesses continue navigating rapid technological shifts, evolving workplaces, and growing demands on leaders, many attendees connected with Colette’s reminder that:

“The pace of change has never been so fast, and it will never be this slow again.”

In an environment where change is constant, organizations cannot simply slow down and wait for clarity before moving forward. Instead, leaders must learn how to communicate through uncertainty with transparency, empathy, and intention.

Colette emphasized that awareness gives leaders the ability to choose curiosity over assumption, and that asking thoughtful questions is often more valuable than immediately having answers.

Leading with Intention

The evening sparked thoughtful conversations among EFBC members and guests and served as a reminder that strong leadership is not only about strategy or results. It is also about self-awareness, communication, trust, and the ability to create genuine human connection within organizations.

Thank you again to Colette Carlson for an engaging and meaningful evening with the EFBC community.

Learn more about EFBC membership and upcoming events.

EFBC President’s Message: When Results Don’t Need to Be Forced

Hello EFBC,

Over the past few months, we’ve been working through the Five Dysfunctions of a Team. This month, I want to focus on the final piece: results. At the end of the day, that’s what all of this is meant to drive.

Strong teams build trust, embrace conflict, commit to a direction, and hold each other accountable. When those pieces are in place, results don’t have to feel forced. They become a natural outcome of how the team operates.

The reality is, teams can still get results without building that foundation first. You can push through without trust, avoid conflict, and rely on top-down accountability and still hit your numbers. But it’s harder. It takes more effort, creates more friction, and isn’t sustainable over time.

As we wrap up this series, I’ll leave you with this:

Are the results in your business being driven, or are they being forced?
And what would change if the foundation underneath them was stronger?

At EFBC, we see what’s possible when these pieces come together. It doesn’t have to be perfect, but it can be powerful. That’s the standard we’re working toward.

Thank you, and I’ll see you soon.


Joel Spencer
EFBC President 2025-2026


 

Why Business Leaders Need Space to Think Out Loud 

Why Business Leaders Need Space to Think Out Loud 

Leadership asks a lot of people. It asks for vision, decisiveness, composure, and the ability to keep moving even when the path is not fully clear. What it rarely gives back is a place to process out loud. 

That is one of the quiet challenges of leading a business. Not the meetings, not the decisions, not even the pressure itself, but the fact that many leaders have nowhere to bring the thoughts that are still taking shape. 

At EFBC, members find more than a network. They find a trusted space to think more clearly, speak more honestly, and gain perspective from peers who understand the weight of leadership firsthand. 

The Quiet Weight of Leadership 

As a leader, you are often the one others rely on. Your team looks to you for directions. Your family may look to you for stability. Your business depends on your judgment. 

That responsibility can make it harder to be open about uncertainty. The doubts, the unfinished ideas, and the decisions that still need time to unfold often stay unspoken. Not because they do not matter, but because there are very few places where a leader can say them out loud without any consequences. 

So, you carry them. And over time, that weight adds up. 

As one of our EFBC members reflected: 

“You don’t oftentimes have someone to bounce things off of; I could probably make a list of about a dozen things that keep me up at night” 

Not Every Room Is Built for Real Thinking 

Most leaders are surrounded by people, but what they often are missing is the right room. 

A conference can offer energy. A networking event can offer conversation. But real reflection needs something more. It needs trust, confidentiality, and the kind of consistency that allows people to stop performing and start being honest. 

As our member, Adriana Osorio of Osorio Metals shared: 

“Each member once a month presents and we do a lot of problem solving. We give feedback. Everything is confidential.” 

That is what EFBC’s Forum experience is built for. This is where small groups of peers meet regularly in a confidential setting where members can bring real business and personal challenges into the room. 

 

Thinking Out Loud Is Where Clarity Begins 

Sometimes leaders do not need advice; they need space to hear themselves think. 

There is something powerful about saying a challenge out loud to the right people. It can bring shape to something that felt unclear before. It can expose what is really driving a decision. It can turn pressure into perspective. 

At EFBC, members do not tell one another what to do. Rather, they share experiences, offer perspective, and help one another see more clearly. That is what makes the conversation so valuable. It is not about prescriptions; it is about clarity. 

As one of our members explained:  

“You will learn more when you share your struggles and get more insight and tools to solve the problem” 

What Only a Peer Can Offer 

A consultant may bring expertise. A coach may bring a process. A peer brings something different: the credibility of having lived through something similar. 

EFBC members come from different industries, different business sizes, and different stages of leadership. But they all understand what it costs to carry responsibility. That shared understanding changes the quality of the conversation. 

When someone in your Forum has faced a family business challenge or a growth decision without a clear answer, their perspective does more than inform you. It helps you think better. 

Brian McIlwee, an EFBC member since 1998, put it this way: 

“It’s amazing how different the businesses are, and how all the problems are the same.” 

More Than a Network 

What makes EFBC meaningful is not just that members connect. It is that they can show up honestly. 

They can bring questions that are not fully formed yet. The challenge they have been carrying quietly. The decision that still feels unfinished. And instead of having to defend it or solve it on the spot, they can think through it with people who understand. 

That kind of space changes leaders. It leads to clearer decisions, stronger self-awareness, better relationships, and growth that extends beyond the business itself. 

Bob Giamanco of 2XL Corporation (EFBC Member Since 2016) reflected: 

“EFBC brought me shared experiences with other members that really moved the needle for my business and created meaningful growth both personally and professionally.” 

As Brian McIlwee said: 

“It’s like having a board of directors not just for the business, but for life.” 

That is the heart of EFBC: not just a peer network, but a place where leaders can stop performing, start reflecting, and find their way forward. 

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Why Brand Matters More Than Ever in the Age of AI

EFBC Breakfast Club Recap | April 2026

On a bright April morning, EFBC members gathered for a Breakfast Club session that was equal parts eye-opening and energizing. Patty Rioux, President of ODEA, delivered a sharp, candid, and practical look at what AI really means for your brand and what you need to do about it right now.

The room was full. The conversation was lively. And attendees left with a lot to think about and a few things to go do that same night.

Let’s Start With Shared Definitions

Patty opened by making sure everyone was working from the same vocabulary, because in a world where “AI” and “brand” get thrown around constantly, clarity matters.

AI, she explained, is not magic and it is not all-knowing. It predicts. It does not know. Unlike traditional software built on rigid rules, AI uses pattern recognition to generate outputs and simulate human interaction. LLMs like ChatGPT, Claude, Perplexity, and Gemini are trained on enormous amounts of text, images, audio, and video. Her description of them was memorable: think of an LLM as a very smart intern who has read more than you, but lacks your judgment, discernment, and taste because it has no worldly experience.

Brand, she reminded the room, is not your logo or your tagline. Drawing on Seth Godin’s definition, a brand is the set of expectations, memories, stories, and relationships that account for a customer’s decision to choose you over someone else. It exists solely in the minds of your audiences. It is built on two things: differentiation and resonance. And with the rise of AI, influencing that perception has gotten harder and more critical at the same time.

You Now Have Three Audiences to Influence

This was one of the sharpest reframes of the morning. For years, brands have focused on reaching one audience: humans. Now, Patty argued, there are three.

Humans. Google. AI.

Each reads your brand signals differently and ranks your credibility by different criteria. The stakes are real: if your customers don’t say your name when they interact with AI, the AI gets to choose who to recommend. Your business may not even be in the running.

She introduced two concepts every business leader needs to understand. AEO (Answer Engine Optimization) means optimizing to be the answer when someone asks an LLM a direct question. GEO (Generative Engine Optimization) means ensuring your brand is present and credible enough online that AI-generated content pulls from it accurately and favorably.

She illustrated this with a live example. When asked “What peer group should I consider if I own a family business in Chicago?”, AI tools already surface EFBC by name, describing its history, its forum model, and its affiliation with DePaul. That is GEO working. But it only works if your brand has the digital footprint to support it.

And there was a wake-up call for everyone in the room: Google has patented a system that allows it to generate AI-created pages for organizations and insert them into search results. It is already rewriting headlines on news sites with no opt-out available. If your digital presence is weak or inconsistent, someone else will fill in the blanks about your brand. And you may not like what they write.

Your Brand Has Always Been Your Edge. AI Just Upped the Ante.

Patty introduced the concept of Perceived Authority, the digital version of what people say about you when you are not in the room. It is built through social presence, media mentions, thought leadership, reviews, and consistent credible visibility across the web. You cannot buy it or fake it. It has to be earned through effort, consistency, and distinction.

Google has codified what it looks for under the framework E-E-A-T: Experience (named authors, bio pages, active social media), Expertise (case studies, opinions, behind-the-scenes content), Authoritativeness (podcast appearances, media mentions, awards), and Trustworthiness (a named team page, HTTPS, real testimonials). These are the signals that Google, LLMs, and humans use to decide whether you are worth their attention.

If paid search is your primary lead generation strategy, Patty was direct: you are exposed. Building Perceived Authority needs to become a priority now.

She also made a point that resonated deeply with the room: audiences can smell AI. Authentic, specific, human content outperforms polished AI content with every audience that matters. Google rewards it. LLMs cite it. Humans feel it. The goal is not to be raw for the sake of it. It is to be so specifically and undeniably your brand that AI cannot replicate you and no competitor can fake you.

To prove the point, she broke down the anatomy of a typical AI-generated LinkedIn post, exposing its nine predictable moves: the hook, the restated problem, the short declaratives, the arrow bullets, the pivot line, the mic drop, and so on. Then she showed her own top-performing posts alongside ODEA’s best content. The difference was stark. The AI post performed as content. The human posts connected as brand.

You Are Going to Use AI. Use It Well.

Patty was clear that AI is not optional and not going away. The phase of experimentation is closing. The time for implementation is now.

Use AI for ideation, research, and thought partnership. It is a remarkable thinking partner for pressure-testing ideas, drafting outlines, researching competitors, and prepping for meetings. Data-driven and repeatable tasks are its sweet spot.

But teach it your brand first. If you cannot articulate your brand to a human, you cannot articulate it to a machine. The LLM will default to the pattern every time. Your visual brand guides and verbal brand playbooks are training documents for your AI tools. An undefined brand means generic output.

And do not just take what AI generates and paste it live. Inject your point of view every time or you are as generic as your competitors. Research shows that pure AI-generated content does not perform long-term. Google rewards quality regardless of who or what created it, but quality requires your voice, your experience, and your judgment.

Finally, get ahead of AEO and GEO now. Traffic from AI tools is still a small share of total web sessions but it is growing exponentially. The brands building credibility and digital presence today will have a head start that is very hard to close.

The Parting Thought

Patty closed with a line that was both sobering and motivating: AI is currently as bad as it will ever be. Everything it can do today will only get more sophisticated, more influential, and more pervasive. The question is not whether this matters to your business. It does. The question is whether you will be ready.

Her homework for the room: tonight, open Claude or ChatGPT and ask what it knows about your company. Then ask who the best in your category are in your market. See if your name comes back. If it does not, now you know where to start.

A sincere thank you to Patty Rioux and the team at ODEA for a session that was as practical as it was thought-provoking. To learn more about their work, visit teamodea.com or connect with them on LinkedIn.

We hope to see you at the next EFBC Breakfast Club. These conversations are exactly why this community exists.

EFBC BUSINESS LEADERSHIP SEMINAR


Joel Spencer
EFBC President 2025-2026


 

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Global reach, local expertise:

How Wintrust International Services support business growth around the world

White paper from our strategic partner, Wintrust.

Without strategy or guidance, expanding your business into international markets can leave your company fraught with unmitigated risk. Not only is identifying the markets where you are best poised for success challenging, but supply chains are fragile, currency markets are constantly fluctuating, and tariffs continue to create uncertainty.

While international growth is risky and complex, it offers the potential to access entirely new markets and achieve large returns. Whether the expansion is upstream or downstream in your supply chain, there is undoubtedly growth potential at stake. However, to realize this potential, companies must do their research.

“Even the first step — identifying a market where a company could be successful — requires a thorough and clear understanding of all potential risks, as well as mitigation strategies, before any sale is attempted,” says Tom Beube, senior vice president and head of international banking at Wintrust Bank. Mapping this out is no simple task, but it’s a task that can be made much easier with a trusted banking partner with a strong trade finance and foreign exchange team.

Once a company has identified the most suitable market to work within or expand to, having that trusted banking partner is essential to help navigate potential pitfalls. According to Beube, risk-mitigation tools and services like those Wintrust provides — such as letters of credit, foreign currency hedging strategies, and trade finance — not only deliver peace of mind for businesses but can often determine whether a transaction can be successfully completed.

“There have been more instances than I can count where Wintrust has stepped in and helped mitigate risk on a deal, allowing our clients to complete their export sale or bridge the working capital challenges with a foreign supplier. We do this by leveraging our trade and supply chain financing payments tools and foreign exchange services,” Beube explains.

CASE STUDIES FROM ACROSS THE GLOBE

United Arab Emirates (UAE)

One of Beube’s clients had the opportunity to expand their business abroad and sell a product in the UAE. The company was the beneficiary of a letter of credit from a bank in the UAE with deferred payment terms of 90 days. This presented working capital and foreign bank and country risk issues for the U.S. company. Without faster payment, their working capital was significantly constrained, and they were unable to complete subsequent orders.

That’s when they turned to Wintrust. Beube recalls exploring every financing option with the client to ensure that when Wintrust took on the risk of the deferred payment from the UAE bank, the business would be well-positioned to continue operations, complete its orders, and achieve long-term success.

Germany

Another business, operating in Germany, was having its U.S. dollar payments converted to euros by a European bank while their domestic operations partnered with Wintrust for financing. Upon learning they were accepting less-than-favorable exchange rates from the European bank, Wintrust’s team worked with the company to provide an exchange rate that allowed the business to realize significant savings on these payments to its operations abroad.

“Ultimately, that’s what I believe separates us from larger national banks and non-bank competitors,” says Beube. “We spend the time to help clients navigate every pitfall they may encounter and provide in-depth advisory services.”

Wintrust’s international banking team has a deep understanding of global markets, helping partners streamline operations and reduce risks. Coupled with Wintrust’s advanced technologies that provide a secure, efficient banking experience, their personalized advisory services empower businesses to navigate the complexities of international trade with confidence, driving growth and long-term success.

Whether your business is experiencing supply chain financing difficulties, searching for a more favorable exchange rate for a project, or simply looking to understand the risks of global expansion, Wintrust is committed to advising and servicing businesses of all types, with no project being too small.

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The Business Case for Women on Boards

Why Diverse Leadership Strengthens Governance and Decision-Making

As we recognize International Women’s Day, it’s a good opportunity to reflect on the role women continue to play in strengthening leadership across businesses. One area where this impact is increasingly clear is in the boardroom.

For privately held and family-influenced businesses, strong governance is essential to long-term success. Boards are responsible for providing oversight, challenging assumptions, and helping leadership teams think strategically about the future. Research continues to show that boards that include women bring broader perspectives, stronger discussions, and ultimately better decision-making.

Diverse Perspectives Lead to Better Decisions

The role of a board is not simply to affirm leadership decisions, but to ask thoughtful questions, challenge ideas, and bring a range of perspectives to the conversation.

When board members come from similar backgrounds or experiences, it can limit the range of viewpoints considered. Women often bring different leadership experiences, professional backgrounds, and approaches to problem-solving. This diversity of perspective helps boards evaluate opportunities more thoroughly and make more informed strategic decisions.

In family businesses especially, where leadership roles can overlap with family relationships, having a mix of voices around the table can create a healthier balance in governance discussions.

The Data Behind Diverse Boards

The business case for gender diversity in leadership continues to grow stronger. According to research from McKinsey, companies in the top quartile for gender diversity on executive teams are 27% more likely to outperform financially compared to companies in the bottom quartile.

Additional research from Bloomberg Intelligence has found that companies with gender-diverse boards have delivered 2–5% higher annual returns compared to those with less diversity in leadership.

Despite this progress, women still hold roughly 27% of corporate board seats globally, highlighting that there is still significant opportunity to broaden representation and leadership perspectives in governance.

Strengthening Governance in Family Businesses

For family-owned and privately held companies, governance structures are often evolving as businesses grow and leadership transitions occur.

Adding diverse voices to the board, including women with varied professional expertise, can strengthen oversight, encourage more thoughtful debate, and help organizations think beyond the immediate operational challenges.

Independent directors, next-generation family members, and outside advisors all play important roles in building governance structures that support long-term business continuity. Ensuring that women are represented within those groups helps boards reflect a broader range of experience and insight.

Expanding the Leadership Pipeline

Board service also plays an important role in developing the next generation of leaders. For family businesses preparing for leadership transitions, creating opportunities for women to serve on boards can help expand the leadership pipeline and build stronger governance for the future.

Whether serving as family directors or independent board members, women contribute valuable strategic perspective that can help businesses navigate growth, succession, and change.

Moving the Conversation Forward

Strong boards are built through thoughtful composition, diverse perspectives, and a shared commitment to long-term success. Including women in governance is not simply about representation. It’s about strengthening the quality of conversation and decision-making that takes place in the boardroom.

As family businesses continue to evolve, bringing a wider range of voices to the table will remain an important part of building resilient and forward-thinking organizations.

Continuing the Conversation at EFBC

At the Entrepreneur and Family Business Council (EFBC), we believe strong leadership benefits from a range of perspectives. Today, three of the ten members of EFBC’s Board of Directors are women, contributing valuable insight and experience to the organization’s governance and strategic direction.

Through peer Forums, educational programming, and events, EFBC brings together leaders from privately held and family-influenced businesses to explore the challenges and opportunities that come with leadership, governance, and growth.

If you are interested in connecting with other business owners and leaders who are navigating similar decisions, we invite you to learn more about EFBC and join the community.

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