Carl-Gould-#70secondCEO-Family Business: Great Idea Tough Reality

Family Business: Great Idea, Tough Reality

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Interestingly enough, even though there might not be blood in every family, blood family in every business, almost every business has some family dynamic.

Here's the first thing that changes. Now one, you know, it's on paper. It's a great idea to work with your family.

Who else would you want to support? Who else would you want to be around all the time? And you say, wow, wouldn't this be amazing? We can have this legacy business, and we can all be around each other all the time. Wouldn't that be great? You know, and it's great right up until it's not. And well, one of the things that changes immediately is accountability, right? It's the first thing that is sacrificed.

You can't, I'm sorry. You're not going to Thanksgiving dinner and singing Kumbaya and then holding somebody accountable the next Monday. On the sales meeting, because they didn't make as many calls.

You're not going to punish them financially because of it. It's simply, it's just almost never works. And so a family-run business really struggles with accountability at first and foremost.

Like and follow this podcast so you can learn more. My name is Carl Gould, and this has been your #70secondCEO.