Gary Beckwith has had an extraordinary business journey, one from which every generation of any family firm can learn. From the tough decision to fire his own father in order to grow the business, to working alongside his children, to maintaining a love for his business even after selling it, Gary’s story is steeped in emotional insight and invaluable wisdom.
In this captivating podcast episode, Gary and his daughter Lucy share their journey with City Cruises on “It Runs In The Family.” They discuss the delicate balance of maintaining personal relationships while prioritising business-first thinking, the evolution of City Cruises from a small fuel barge to a thriving tourism business, and the crucial elements of succession planning and exit strategy in family firms.
They also touch on the critical importance of clear family communication, setting boundaries, and how deeply intertwined personal identity can become with a family business. “You have to be prepared to make tough calls for the sake of the business,” Gary reflects, offering an honest glimpse into the highs and lows of running a family company.
