When Alison Gutterman’s grandfather first launched his company back in the 1940s, he had no idea that decades later, his granddaughter would be leading the family business through a global pandemic. Back then, Manny Gutterman & Associates, Inc., was a national sales representative organization selling a variety of proprietary products to chain drug, variety, hardware,...
You’ve built your family-owned business from the ground up, and you want it to last. An establishment that’s sustainable for generations is a goal worth working for. But there’s one problem I’ve seen again and again in small family businesses-- a tendency to focus too much inwards. Sometimes our focus on continuity and sustainability...
A family owned and operated business is nothing new, but a family business managed by two parents and eight and children is pretty unique. Goat Milk Stuff. The business started with making soap, as it is a low barrier (much less difficult than food products) and the whole family could easily be involved in...
Many of you have a family business that you either inherited, that you bought, that you got pushed into, shoved into, or that you chose to be a part of. It’s important to talk about the route of entrepreneurship when you’re working with or for family. Ramon Ray interviewed Nancy Larick of Larick Associates...
About 70 percent of family businesses never make it past the first generation. Mitzi Perdue is uniquely familiar with the challenges of passing on a family business. Perdue was born into the family that created Sheraton Hotels and then married into the family behind Perdue Chicken. Because of this expertise, Perdue recently wrote a book specifically...
Everyone has an opinion about working with their relatives, and many people like to heartily declare "I could NEVER work with my family!" but Michelle Poniewozik begs to differ. Customer Experience Coordinator, marketing, admin, sales—you name it; Michelle wears many hats at her family owned and operated HVAC business, Iceberg's One Hour Heating &...
Everyone has their own reasons for starting a business. Some are passionate about an idea and want to bring it to life. Some are motivated by the profit potential. Others are lured by the lifestyle it allows you to have – being your own boss and being able to control your own time. None...
[content field="callout1" format="true" class="calloutwide"]When you operate a family business, in addition to the typical issues you must deal with in any company, there’s often an emotional component to any decision. This is especially prevalent when dealing with succession planning. When several siblings inherit the business from a parent, for example, there could be issues...
The good ol' American Dream may have been passed down many generations, but the spirit from which it was born is timeless. We were once explorers, settlers, and adventurers, and now entrepreneurs. People who strike gold today often do so by launching a unique business idea like an app, a social network or a...
At Smart Hustle, we like to focus on the entrepreneur or small business owner, but when it comes down to it, starting a business impacts the entire family. The decision to leave a traditional 9-5 with a steady income and venture out on your own has consequences for family and spousal relationships. Growing the...
