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Dynasty Leadership PodcastAuthor: Todd Eberhardt
It's great if you can pick when you hand over the reins, but what if that time picks you? Does your company consistently meet or beat the targets you set?" Do you have the right team rowing in the right direction?" Is there something going on in your market or company that threatens your growth? "Are you considering transitioning the leadership of the company?" Is there a clearly articulated long-term strategy?" We specialize in guiding Family-owned businesses with 50-500 employees to become Succession ready. Language: en Genres: Business, Management, Marketing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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How to Handle Leadership in a Family-Owned Multi-Generational Business
Episode 84
Tuesday, 14 March, 2023
Pete Scherer is the CEO and a third-generational leader in the family business, Scherer bros. Lumber Co. Out of nearly 300 employees, there are currently four family members that work and lead within the company. In this episode, Pete explains how he leads and keeps the interests of the company aligned when he hears multiple visions and thoughts from different members of the family. Key Takeaways: [1:30] A little bit about Pete and his company, Scherer bros. Lumber Co. [3:10] How does Pete structure the business? [6:30] What trade-offs did previous generations have to make in order to make this company work? [8:25] As Pete’s son currently works for the company, how does Pete bring children into the business? [10:20] If you want to make a career out of the family business, the rules for family members become a lot tighter. [13:00] The business is not obligated to keep you on if you’re not a good fit. [16:20] Nepotism is always assumed. Whether it is or not. How does Pete work through this? [19:40] How does the fourth generation address Pete? Do they ever use the word ‘Dad’ or ‘Uncle’? [23:55] How are the boards of directors formed in Pete’s company? [27:45] How do shareholders vote for new board members? [32:50] Pete is constantly being humbled in the business. Pet projects and passion projects that weren’t able to be profitable have to get cut. Mentioned in This Episode: Dynastylc.com Email Todd: Todd@Dynastylc.com Schererbros.com Pete on LinkedIn
