Help! I’m Working For a Non-Family CEO in Our Family Business

“He pushed me beyond my comfort zone, but I liked it”

At first, we were concerned, that hiring an outside CEO would feel like a loss of control. But in a strange way, we almost felt a sense of relief. Relief that the family could tap into a resource that could support us in growing the business through fast growth.

An outside CEO can also help pull the company in the same direction. When family members lead the business they have autonomous power to manage their areas of responsibility. They set their own priorities, strategies, and methods of getting the tasks completed. This independence in the management structure often has family members working in silos with no clear lines of communication and direction. Each family member is setting their own priorities in a vacuum and hoping they align with the overall direction of the business. It usually works well, but there is an opportunity to make it even better when there is a comprehensive plan in place.  More…

Keeping the Family Business Innovative

“either be at the table, or be on the menu”

Turning a family farm into an amusement park, a funeral home that doubles as a wedding chapel, or a furniture store that has an IMAX theater. Even the most ordinary businesses can be innovative.

To keep the business growing past the initial wave of success you have to try new things. You have to remain entrepreneurial and keep innovating. Staying still is no longer an option. It’s especially challenging in a family business where the founder is the idea person and the younger generation has to inherit these skills.  More…