Future-Proofing the Family Business with Matt Nielsen, Nielsen-Massey Vanillas

08/13/24 • 36 min

Welcome to Building Unbreakable Brands, the podcast for business leaders with a generational mindset, hosted by Meghan Lynch. Meghan, a brand strategist and advisor to generational family businesses, interviews the stewards of enduring brands to uncover what makes the difference between fleeting success and a lasting legacy.

In this episode, Meghan welcomes Matt Nielsen, a fifth-generation steward of Nielsen-Massey Vanillas. Matt sees his role as a caretaker of the family business, ensuring its prosperity not only for the current generation but for future ones as well. They delve into the importance of stewardship versus ownership, emphasizing the long-term care and sustainability of the business, and a "6th generation" mindset and strategy.

Matt shares how Nielsen-Massey has implemented unique governance structures, such as an independent board of directors and a non-family CEO, to bring in external perspectives and challenge the status quo. This approach helps the company avoid complacency and maintain a dynamic, forward-thinking strategy. He also discusses the critical lesson of articulating a distinct shareholder vision that aligns yet remains separate from the corporate vision.

The conversation touches on diversifying beyond a reliance on vanilla while maintaining strategic guardrails on diversification efforts. Matt talks about learning from other family businesses and his interest in creating a structured program for onboarding the next generation.

In a special segment, Meghan's son Henry asks Matt about working with siblings in the business... and about his favorite recipes to highlight vanilla!

Tune in to hear Matt's insights on stewardship, governance, professionalization, diversification, and preparing the next generation.

Key Points Discussed:

The distinction between stewardship and ownership in a family business.
The benefits of an independent board and non-family CEO in bringing fresh perspectives.
Articulating a distinct shareholder vision separate from the corporate vision.
Strategies for diversification while maintaining focus.
The importance of learning from other family businesses and developing next-generation leaders.
The dynamics of working with siblings.

Learn more about Nielsen-Massey Vanillas
Follow on Instagram: @nielsenmassey
Watch on YouTube: @NielsenMassey
Connect with Matt on LinkedIn: https://www.linkedin.com/in/mattnielsen/

Building Unbreakable Brands is hosted by Meghan Lynch
Produced by Six-Point Creative

In a special segment, Meghan's son Henry asks Matt about working with siblings in the business... and about his favorite recipes to highlight vanilla!

Tune in to hear Matt's insights on stewardship, governance, professionalization, diversification, and preparing the next generation.

Key Points Discussed:

The distinction between stewardship and ownership in a family business.
The benefits of an independent board and non-family CEO in bringing fresh perspectives.
Articulating a distinct shareholder vision separate from the corporate vision.
Strategies for diversification while maintaining focus.
The importance of learning from other family businesses and developing next-generation leaders.
The dynamics of working with siblings.

Learn more about Nielsen-Massey Vanillas
Follow on Instagram: @nielsenmassey
Watch on YouTube: @NielsenMassey
Connect with Matt on LinkedIn: https://www.linkedin.com/in/mattnielsen/

Building Unbreakable Brands is hosted by Meghan Lynch
Produced by Six-Point Creative

Previous Episode

How to Nurture a Generational Company Culture with Ruth Lund

In this episode of Building Unbreakable Brands, host Meghan Lynch, brand strategist and advisor to generational family businesses, interviews Ruth Lund, co-founder and CEO of True North Culture Advisors. Ruth, who also serves as a Vistage Chair for a leading CEO peer group in the Greater Boston area, brings a wealth of experience in working with companies that have a generational mindset.

Ruth and Meghan delve into the importance of cultivating a strong company culture that can endure and thrive across generations. Ruth emphasizes that companies with a long-term vision are already planning for the next 20, 30, and even 50 years. She discusses how culture is shaped by leaders and the critical role future generations play in preventing leaders from becoming too protective and siloed.

Ruth shares insights on how True North Culture Advisors helps companies measure and improve their culture by assessing the alignment between values, experiences, and desires through comprehensive surveys. This data-driven approach promotes accountability and targeted improvements. One notable client example highlights how a company demonstrated cultural resilience during the COVID-19 pandemic after re-evaluating and strengthening their cultural alignment.

Additionally, Ruth discusses the benefits of CEO peer groups, such as those offered by Vistage, in supporting cultural health and generational planning. Tune in to learn how a strong, future-focused culture can make the difference between fleeting success and a lasting legacy.

Key points discussed:
• The role of leaders and future generations in shaping a resilient company culture.
• The process of assessing and improving cultural alignment through surveys.
• Real-world examples of cultural resilience and improvement.
• The importance of generational planning and CEO peer groups in maintaining cultural health.

Learn more about True North Culture Advisors
Connect with Ruth on LinkedIn: https://www.linkedin.com/in/rutholund/

Building Unbreakable Brands is hosted by Meghan Lynch
Produced by Six-Point Creative

Next Episode

Reigniting Entrepreneurial Spirit in Generational Businesses with Andrew Morgans, Marknology

In today's episode, hosts Meghan Lynch and Henry Lynch sit down with Andrew Morgans, an expert in e-commerce and founder of the full-service Amazon agency, Marknology. Andrew shares invaluable insights on the importance of setting clear, achievable goals for both personal and professional success. He draws parallels between tailored fitness plans and customized business strategies, emphasizing the need for generational brands to define objectives and track progress effectively. Andrew discusses the common pitfalls businesses face, particularly legacy brands transitioning to e-commerce platforms like Amazon, and how rekindling an entrepreneurial spirit can lead to successful digital transformations and build important skills that help brands endure.

We'll explore how Andrew's family-oriented business approach has helped overcome challenges, the significance of gap analysis in building strong e-commerce teams, and the importance of maintaining strong customer relationships in the digital marketplace. Plus, Henry talks to Drew about the fun and rewards of selling products online. Get ready for a deep dive into the world of e-commerce, brand building, and the generational journey of maintaining a thriving business.

Learn more about Marknology https://www.marknology.com/
Follow Drew on Instagram: @andrewmorgans
Connect with Drew on LinkedIn: https://www.linkedin.com/in/amorgans/

Building Unbreakable Brands is hosted by Meghan Lynch
Produced by Six-Point Creative