CEO Confidential

A Successful Family Business - Mark Schnieders - CEO Confidential - Episode #017

September 23, 2021

“One big family!” There are benefits to pulling from a pool of people you know when you’re first starting a new business venture. There’s also a lot of risks! What happens when you hire a sibling or a friend of a friend, and your expectations of their capabilities don’t line up? Mark Schneiders has accomplished the almost unimaginable - owning and managing a company where almost everyone is a first-degree connection or “once removed from the family”. Listen to this episode to hear his tips and tricks on this mastery!

Takeaways 

  • “There is an entrepreneurial paranoia, you’re often taking risks… and we find ourselves pushing forward, doing what you have to win, to overcome, to adapt.”  
  • As a business owner & leader, when you take ownership of problems and manage them the business takes off and breeds success.
  • One of the best tools Mark employed is a culture Index. This helped him understand how his employees need to be motivated, led, talked to, and utilized. 
  • Not every employee will think like you or work like you, and that’s a good thing. 
  • Biggest challenges about recruiting and working with family members: especially early on it can feel like you never get a break - 24/7 spouse, kids, parents, siblings, house!
  • Define your process and set your expectations. When you don't, chaos can creep in, and when your employees are your close friends and family, it can lead to friction.
  • Mark’s advice: “Be honest... it’s more than okay to express yourself. It’s okay to say I don’t have the answer and I need your help.”

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