“Being asked – or more aptly, strongly encouraged – to join our family business as a senior manager and potentially become the CEO in the near future is quite a perplexing situation for me. Our company has been manufacturing paint and commercial coatings for nearly five decades, with my father currently at the helm as the CEO. While I pursued a business degree and spent summers working in the company, I don’t possess the same passion and single-minded dedication to business as my father does. I’ve eagerly absorbed all the leadership books you’ve reviewed, yet I find myself plagued with doubts about my suitability for this role. Nevertheless, I don’t want to disappoint my family. I’m hoping to find a book written by a CEO of a family business who candidly discusses the realistic challenges I will inevitably encounter if I accept my father’s request. Any recommendations, ‘Darren?'”
Absolutely, I do.
Running a family business is a unique and intriguing experience. So, what does it really mean to be a part of one? Well, imagine being the conductor of a grand orchestra, harmoniously bringing together different instruments to create a beautiful symphony. In a similar vein, joining a family business means becoming a key player in a dynamic and interconnected network. You become part of a tight-knit team, bound not only by blood but also shared goals and values. It’s like embarking on a thrilling adventure, where every twist and turn offers both challenges and rewards. As you navigate the intricacies of the market and the complexities of family dynamics, you must strike a delicate balance between business acumen and personal relationships. It’s like walking a tightrope, where success requires harnessing the potential of the family unit while embracing the unique advantages and challenges that come with it. So, if you’re up for the challenge, running a family business can be an immensely fulfilling journey that combines the joys of entrepreneurship with the warmth and familiarity of your loved ones.
During our Zoom conversation, Julie Charlestein greeted me with a bright smile as she proudly stated, “Our products have been an integral part of your daily routine.” Together, we delved into the concerns brought up by Darren and discussed how these matters impact our valued customers.
What does it require to become a truly effective and influential leader? This is a question that many people ponder. In order to tackle this topic and provide valuable insights, we need to dive deep into the qualities and skills that make a leader strong. So, let’s embark on this exploration together and discover the key elements that contribute to a powerful leadership. Are you ready? Let’s go!
Meet the incredible author behind the book “How to Lead Your Family Business: Excelling Through Unexpected Crises, Choices, and Challenges”. Not only is she an expert in navigating through tough times, but she is also the fourth-generation CEO of Premier Dental. Premier Dental is a well-established company that has been providing dental products worldwide for over a hundred years, serving 75 different countries. With her experience and knowledge, she has successfully propelled Premier Dental to become a reputable and trusted global provider in the dental industry.
Get ready to dive into Charlestein’s fascinating world as she guides you through her daily experiences in running a family business. In our conversation, she provided invaluable insights and candidly highlighted what Darren, as the potential CEO in a family business, should steer clear of. Here are the top six things he must absolutely avoid at all costs:
1. Change everything all at once.
What happens when you try to change everything all at once? Well, the consequences can be not so great. You might not make a big impact and your team might not be very loyal to you. And that’s not good if you want their support in the future. Instead, a better approach is to be someone who listens. Ask your team members what they think needs to be improved. Let them have a say and make them feel heard.
2. Rest on your name.
Consequences: It’s pretty clear that you’ve made it to where you are because of your name. However, don’t just rely on that to take away from your personal responsibility. It’s important to constantly work hard and prove yourself. Charlesstein, who happens to be a fourth-generation CEO, once said, “I’ve always made it a point to work harder than anyone else, so that people could see my dedication.”
3. Say no when presented with opportunities.
When it comes to consequences, it’s crucial to avoid a knee-jerk reaction of always saying “no”. Taking this dismissive approach can make others perceive you as someone who believes they have all the answers. Instead, try adopting a mindset of saying “yes” initially, to explore the potential possibilities rather than shutting ideas down immediately. As Charlestein wisely suggests, it’s important to let others know that their input is valued and appreciated.
One of the best compliments a CEO can receive is when an employee says, “Hey boss, you might not always agree with my ideas, but you actually take the time to listen and it means a lot to me.” It’s a great feeling for both the CEO and the employee when they have an open line of communication and a willingness to consider different perspectives. This kind of interaction fosters a sense of value and appreciation within the workplace, making everyone feel heard and respected. It’s a reminder that effective leadership is not just about making decisions, but also about creating a space where people feel comfortable sharing their thoughts and ideas. The CEO who understands the importance of active listening is more likely to build a collaborative and engaged team, resulting in a positive and productive work environment.
4. Let yourself be intimidated by what you don’t know.
Feeling a little overwhelmed when you’re in a room full of seasoned professionals is totally normal. But hey, don’t let it get to you! Just put in the work and do your research. Dive into all the technical stuff, read up on it, binge-watch those educational videos, attend those seminars, check out websites – you get the gist. Before you know it, you’ll be speaking the lingo like a pro and confidently joining the conversation. Ain’t nothin’ gonna stop you now!
Have you ever encountered someone at work who seems to constantly thrive on drama? Spotting a drama addict can be quite perplexing, as their behavior can be both unpredictable and intense. These individuals have a burstiness that is hard to ignore, always bringing some kind of drama into the workplace. But fear not, there are ways to handle this situation effectively. Let’s dive into some tactics on identifying a drama addict and how to deal with them.
When it comes to attending a meeting or giving a presentation, it is essential to pay attention to how you present yourself both physically and through your demeanor. Maintaining good posture not only contributes to your overall appearance but also instills a sense of confidence that you want to exude. In addition, it is important to remain relaxed, maintain eye contact, and wear a smile that shows you are genuinely glad to be present. Taking these factors into account helps to counter any perception of intimidation and ensures that you are seen as someone who holds their ground in any given room.
5. Fool yourself into believing that work-life balance is possible.
What happens when you join a family business? Well, get ready to embark on a quest for something that may turn out to be nothing more than a figment of your imagination. Just because a business is labeled as a “family business” doesn’t automatically mean it’s all warm and fuzzy. No, my friend, you’ll still have to grapple with the eternal struggle of balancing your leadership responsibilities with your duties as a loving and committed spouse, parent, or family member. It’s a challenge that plagues all of us, regardless of whether we work in a family business or not.
Running a business, especially a family-owned one, can be incredibly demanding. The truth is, there’s no easy solution to the problem of balancing work and personal relationships. If you’re truly committed to your business, it requires a significant investment of time and energy, which can make it challenging to maintain deep personal connections. It’s a perplexing dilemma that many entrepreneurs face – how to nurture both their business and their personal life. The constant hustle and bustle of running a company can often leave little room for personal engagement, forcing difficult trade-offs. So, the question becomes: How can one successfully navigate this tricky situation, juggling business responsibilities while also cherishing and preserving personal connections? It’s a delicate balancing act, but one that’s worth pursuing, as finding a harmonious blend of work and personal life is crucial for long-term happiness and success.
Imagine sacrificing precious moments with loved ones for the sake of your career. Instead of sharing quality time with your family, you find yourself clocking in extra hours at the office. No more school concerts to attend, no more romantic dinners to savor, and family holidays becoming mere fleeting moments. This is the harsh reality that awaits, and the sooner you acknowledge and come to terms with it, the smoother your journey will be. Such is the perplexing trade-off you’ll encounter, where the allure of success comes at the cost of cherished experiences.
6. Join the family business for the wrong reasons.
Joining the family business can have serious consequences if you’re not truly passionate about it. You might end up feeling miserable and regretful if you let others pressure you into taking this path. It’s easy to think it’s the easier option or believe you owe it to your family due to their long-held expectations. However, if you join without wholehearted commitment, the outcome will be nothing but resentment on your part. So, it’s crucial to carefully consider your own interests and aspirations before making such a significant decision.
How to be unsuccessful as a leader? Let’s delve into the intricacies of this topic and explore the various ways one can steer clear of success in a leadership role. Picture this: you’re a leader who is neither original nor creative; instead, you rely on stale ideas and copy-pasting from others. Your content lacks that certain spark that captures the attention of readers and fails to engage them on a deeper level. In addition, you ignore the importance of being specific and contextual, leaving your audience perplexed and confused about your intentions. Your writing lacks the burstiness that keeps readers hooked, leaving them feeling unfulfilled and disinterested. Moreover, you fail to adopt a conversational tone, opting for formal language and distancing yourself from your readers. This only serves to alienate them and prevent them from fully connecting with your message. To top it all off, you disregard the use of active voice and brevity, making your writing long-winded and tedious to read. Ultimately, your lack of attention to detail in grammar and editing results in a plethora of glaring typos and errors, undermining your credibility as a leader. So, if you aspire to fail as a leader, heed these tips and watch your potential for success dwindle away.
“Let me tell you, if you’re studying business administration or pursuing an MBA, then you absolutely need to get your hands on a copy of How to Lead Your Family Business. This book is an absolute treasure trove of practical and valuable information that is bound to leave you satisfied. Trust me, I was hooked from the very beginning and couldn’t tear myself away. It’s a real testament to the quality of the content when it captures your attention like that, you know? So go ahead and grab yourself a copy, you won’t be disappointed!”