Saputo sisters forged their own path

Article content

It can be a unique path for women in Canada’s enterprising families. We profile some of their stories in our Women and Canadian Business Families series.

Patricia and Danielle Saputo are sisters from one of Canada’s most successful family enterprises, Montreal-based dairy processor Saputo Inc. Growing up Saputo involved a great deal of familial support, but also a lot of independent hard work, driven by a family philosophy that encouraged them to find their own strengths and identities.

Today, Patricia is co-founder of an enterprising family advisory firm, and Danielle is a legacy and family enterprise coach – roles they say they established with a pride and passion instilled in them by their grandparents and parents in different ways over the years.

Here they share some of their challenges and triumphs having been raised in one of the country’s most recognized families.

How did you come to found your companies, and why is the type of work you do important to you?

Patricia Saputo, co-founder, executive chairperson and strategic advisor at enterprising family advisory Crysalia: “As a professional, clients would ask [me for] advice on planning (including estate, succession, etc.) based on what other people have done, so they wanted a same or similar setup structure.

As a coach, you ensure the client achieves their personal best, and produces the results they want in their lives, the difference being the sale of product versus the sale of service. Service should be customized to the particular needs of the client and understanding what their desired future is and working toward their respective goals.

This led to [me] wanting to help individuals truly understand themselves within their own context, and how that works within the context of others around them (family and friends) and beyond that, how they interact in the communities they live in (the social side). So, it’s about knowing thyself, knowing others, and knowing the context in which they live.

For wealthy family members, their beacon is to be guided to find their purpose so they could live purposeful lives, know where they stand within their families and the family business, or set up their own business and be entrepreneurial. They could also be impactful or influential in the communities around them, whether through business or philanthropic endeavors.

I realized that there was a gap, in that many resources existed for helping with the financial capital, but no one really concentrated on the human capital of the family – a resource that could be depleted if not developed.

They say you could measure the ‘happiness’ of a family based on the least happy family member. Families spend lots of time and money to help those family members. If proper development is done early on and conversations are had so that there are no ‘taboo’ topics, a family could thrive together and become an enterprising family.

It’s obviously more difficult than it sounds, but with the right amount of agility, and with proper governance structures, you could help wealthy families through the turmoil and the transitions they face like a caterpillar going through the chrysalis to become a beautiful butterfly. [This is how] ‘Crysalia’ has come to being. To help enterprising families and its members honor their roots, be adaptive and live purposefully for generations.”

Danielle Saputo, legacy coach and family enterprise advisor: “This work is important to me because I feel passionate about educating my children and more Canadian families about the importance of communicating and living your legacy.

When there is a shared vision within a family and the values are voiced and lived, there is greater unity and a sense of moving forward together. Harder decisions are easier to make when everyone is heading in the same direction.

I like to call myself the accountability partner to meaningful conversations. Each conversation puts the continuity plan into motion. And the ultimate goal is to surpass the proverbial saying of shirtsleeves to shirtsleeves in three generations.

I began my work by sharing my own story and coaching individuals to be clear on their intentions. The demand for me increased as I focused on the human capital and family dynamics, which are not often touched by other advisors.”

What was your experience like growing up as young women in a well-known and successful family business?

Patricia: “Let me start the answer to this question by saying that culture had a big impact on our growing up. The Sicilian culture is paternalistic, where the males (usually first-born, although there are exceptions) would take over the family business. I knew early on that I would not be in a leadership position in the family’s business.

Keep in mind that, when we were growing up, although the company was growing steadily, it was not at the scale that it is today. We had what we needed, but we were taught the value of money and the importance of education and hard work, so that we could be self-reliant. We were reminded that the company may not be there tomorrow, so we needed something to fall back on.

When I studied at Concordia and McGill University, there were not many women in the accountancy program and ‘hitting the glass ceiling’ was the terminology used back then. Times were very different.

Today, the culture has changed and being adaptable is key. As a qualified professional, I was elected to the board of directors of the company for 18 years.

Growing up with a name that is eponymous with the company was both a blessing and a challenge – a blessing because we didn’t have to worry about financial insecurities, yet a challenge because people assumed our life was easy and full of opportunities.”

Danielle: “As a child, the boundaries of family and business were undefined. Most of our gatherings included employees of the business and the business was open to all family members. I was a young teenager when I began working at the family business over the summer. There was always an opportunity open for me.

When I began as a full-time employee, I no longer felt those opportunities were limitless. There was more a feeling of having to prove myself three times over – that I was credible because I worked hard at what I did and I knew the job well, not because of the name I held.

As I grew into adulthood and the family business became more successful, there was a feeling of being taken advantage of. I never had the feeling of being oppressed because I was a woman, [it was] being a Saputo. Judgements were passed on me because of the name I have, not on the person I am. When a salesperson knew my name, there was the feeling that prices were raised. Trust in people was difficult because there was the brewing question: Are they really seeing me for who I am or are they wanting to be in my presence to say, ‘I know a Saputo?’

As a young woman, my guard was always up, but this did not stop me from pursuing my passions.”

How were you advised or encouraged to take part in the family business as you were growing up?

Patricia: “There was no encouragement. My parents would tell me that education was important and would give me something to fall back on if the company would not be around in the future. Being a female family member, I knew that I would not be in the high ranks of the company, so studying to become a tax accountant gave me the status and credibility I needed to be successful outside of the family business.

Being a woman in a man’s world never stopped me from moving forward and pivoting to be a leader in my own right. I often found myself outside my comfort zone, until it actually became my comfort zone. I wanted to be a role model for other women in my profession, the business world and the community, which is why I kept involving myself in many endeavours.”

Danielle: “There is no specific advice or encouragement I recall receiving to be part of the family business. There was a culture built in my family that we had to achieve on our own. I wasn’t able to take a holiday unless I worked hard to put money aside and pay for it myself. This instilled an early knowledge on saving and learning how to make my money work for me. The encouragement was always there from my mom to have a great education. With an education we will always find our way.”

What was the best advice you received from the first and second generations in your family business?

Patricia: “I did not receive any advice from my paternal grandparents regarding my family’s business. The advice I do remember from my maternal grandmother was to be ladylike and always be presentable in public.

The advice I received from my parents was when I was at a crossroad in my career. That was in 1997, when the family business went public, and due to my professional designation, I was asked to be on the board of directors.

I was working at Deloitte at the time, which was the auditor of the family business. Due to conflict-of-interest rules, I could not work at the CPA firm and accept the board position. My parents advised me to accept the board position and leave the firm.

That is when I began a new journey and pioneered in the single family office space. I began to manage the patrimony of my immediate family.”

Danielle: “From my grandparents, the greatest lesson I learned is the value of family: ‘Unity brings strength.’ From my parents, the greatest lesson is the value of humility.”

How did you make decisions around your education, and how did those decisions help you to take the career paths you have taken?

Patricia: “My decision around education was based on having a love for math and numbers. My maternal grandfather would quiz me regularly with math problem sheets. Trafalgar, the all-girls’ high school I went to, had no business-type courses, but mainly arts and sciences (although I did win the physics prize). I chose the business route in CEGEP.

The accounting program at Concordia University and the taxation program at McGill University would allow me to attain the basis of what I needed to become a professional, so I could develop my own reputation and credibility, not as a businessperson or entrepreneur, but as a professional.”

Danielle: “Fate took part in my education path. Applying to university, I sent out many applications to enter architectural school. It was a last-minute thought to apply to business school in which I only sent one application and it was the only one that I received an acceptance to.

As a life learner, I continued being educated in a number of areas after university. My life experience, my work experience and my varied education all come together providing me all the tools that make me successful at what I do. I cannot say I planned my path. Doors opened and I had the courage to walk through and find myself doing what I was meant to do.”

What advice would you give to young women growing up today in successful family businesses who might be nervous about carving out their own path, either within the family business, or in a venture of their own?

Patricia: “The best part of having wealth allows you to have choices that others may not otherwise have. The advice I would give others is think about what they are truly passionate about so they can figure out their life’s purpose and not feel like they are working. They could then make the choices to fulfill that purpose so they could live more meaningful and happier lives. They should always be humble, authentic and true to themselves.”

Danielle: “First, know who you are. Confront your saboteur, find your sage and know you are enough just as you are.

Second, have the courage to try. Hire a coach if you feel stuck.

Third, find your voice and speak your truth.”

Responses have been lightly edited for clarity and length.

More from Canadian Family Offices:

• Founder ‘excited’ by daughter’s interest in the business
• What makes someone a great leader? Craig Dowden digs in
• ‘Religion or faith will make or break a decision to give or not give’
• Nitty-gritty of succession: Holding a mirror to families, looking for leaders
• Why next-generation immigrants clash with parents over money, business

Please visit here to see information about our standards of journalistic excellence.