Family Business – Challenges & Joys
The Third Growth Option with Benno Duenkelsbuehler and Guests
English - January 14, 2021 15:00 - 23 minutes - 16.4 MBBusiness business revenue expansion growth Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Starting and running a business is hard. Do you have family members in your business or are you considering asking family members to join? For some of us that’s been a great experience (see Ep. #11, where my wife and I talk about working together), for others, not so great. Joseph Cilio, owner and CEO of Alfresco Home shares his lifelong experience being part of or running a family business. He stresses the importance of defining roles and building mutual trust, among other wisdoms.
3:58 – “you can’t have three chiefs”
6:23 – the most rewarding part of working with family is “being able to be together with people you love…there is this level of trust…it is a critical element in making a successful family business”
11:31 – “you have to have an ability to rebound, not to let the losses hurt you”
20:52 – “we took one day at a time, communicated, talked to a lot of people, people smarter than us, who could guide us, and we were able to persevere”
22:12 “if you’re entrepreneurial…and start your own business and when you decide to bring family members into it, understand you need to have clearly defined roles which helps the communication process”
Always growing.
Benno Duenkelsbuehler
CEO & Chief Sherpa of (re)ALIGN