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…

Family Business

What Happens When the Family Business Outgrows the Family?

There’s nothing better than running a successful business and growing rapidly. Riding the wave of success, you can do nothing wrong. Or can you?

Keeping your skill set up to speed in a fast growing business can be challenging. Founders who have homegrown skill sets are especially at risk. Fast growth brings leaders into unchartered territory causing them to learn through trial by fire. Many mistakes can be made, which won’t necessarily cripple the business, but can cause serious harm.

“we could be great owners, but we weren’t necessarily the best managers”
–Andrew Molson, Molson Coors Brewing Company

I really like this statement from Andrew Molson. It proves that the Molson Family recognized their limitations and accepted the idea that someone else could manage the business more effectively than the family. More…