I believe millennials in our family businesses are massively under served.
Do a quick google search for family business blogs. There are plenty of them, but they’re hosted by consultants, lawyers, and CPA’s. Those groups are trying to do one thing, sell you their services. There’s nothing wrong with them. In fact we need them more than most companies are willing to admit.
Next, search family businesses in the rapidly growing podcast field. While some podcasts will do individual shows or touch on the topic, no one is solely focusing on this group.
This site is a passion project for me. I’ve grown up in a family business. I have very specific memories of picking up nuts and bolts in our shop yard, weed whacking weeds that felt like they were ten feet high (they probably were), and walking on the recently poured footings of our new shop. My family business is Pride Neon Signs in Sioux Falls, SD. We’re an custom sign company that focuses on helping customers differentiate their business from their competitors through our design, innovation and experience. We’re in the middle of transitioning operations and ownership from the second generation to the third generation.
The genesis of why I started this site is simple. Nine years ago when I started working at Pride, I searched for stories on other people going through the process of what I was about to get into. There were none. There still are none. Right now I’m sitting here wishing there was a resource who could at least give me an idea of what the next five to ten years will look like. No family business is the same – I get that. We all have our different circumstances and are at difference stages in the process, but at the same time, we’re all pretty similar. We all facing the monumental challenge and seeing what it takes to successfully transition a business from one generation to the next. And frankly, what is out there inter webs to help millennials through the process is junk. We’re left reading leadership books, articles, and listening to podcasts and asking ourselves “yeah, but how does that effect our relationship with our mom, cousin or sister?” We’re left to guessing and making assumptions.
I hope to answer some of these questions and explore new ones that I’m about to approach. I’ve been back at Pride for nine years and have been an owner for about half of them. I want to be a resource for the guy or girl just looking at going into their family business. I at least have an idea of what the first nine years can be like! Also, I want to research, educate and steer the conversations of family business to be more open. We’re very secretive as a group because there are family dynamics involved. (I just had to delete and retype the “I’ve been an owner for about half of them” sentence five times because I had to decide if someone would get mad about that). That should not be the case! If we all work together, we can hopefully improve those depressing statistics of successful transitions.
Thank you for visiting my site. I hope you find some piece of information here helpful.