Tips on Building a Family Business
00:00 - Introduction
It’s been a long day full of recording. Eddie starts out by hashing out an unsettled issue about crabs. He’s not a licensed crabberman. He pulled a Kramer and harvested without a permit. This sets Tyler off on some reflections about The Little Mermaid and lobster zombies.
05:40 - Anyway, about family businesses…
Surely you’re still interested in advice from these guys. Eddie asks Tyler if he’d choose to join a family business even knowing what he knows about the challenges. For 20 years, Eddie has been working in the family business where he thought he wouldn’t stay for more than 2 years.
We discuss the day-to-day challenges that are unique to a family business. You’re working around people you know really well. That has its good parts and its bad parts. Eddie shares a bit about the dynamics of working under your father.
We touch on the hierarchy issues, and Tyler advises that you make a big-time conscious effort toward maintaining a sense of active respect. You’ll likely fail in this effort from time to time. When that does happen, work through it openly.
Be family first. Love each other first. Don’t let the business destroy your relationships.
14:40 - Pick some weeds
Eddie encourages family-business folks to pay attention to the little things that can grow into problems. Invest some effort in seeing where tensions might arise. Make room for your family co-workers to grow. Don’t insist that they work so hard that they’re unable to thrive in other aspects of their lives.
Tyler points out that it can be easy to misconstrue growth as greed–especially when some members of the family are progressing at a different pace in earnings or advancement. He also shares about the more natural tag-team dynamic that can become a healthy part of family business.
21:47 - The podcast
Eddie and Tyler discuss the natural brotherly energy that fills the podcast but also filled their workspace when Tyler was in the detailing business. They discuss their dad’s role in developing them as not just steel detailers and businessmen but as fathers and husbands.
The bros address the topic of boundaries and family time. It’s important to be sure that work doesn’t flood over into birthday parties.
Tyler shares about the sense of reward and pride that comes with becoming better because of the work you do with your family. Eddie discusses the sense of comradery that helps everyone make it through the crappy times. He gives an example of how Dad is taking a laptop and heading off this weekend to be with Pop (Grandpa).
37:30: Pressure
Eddie addresses the disparities in expectations that can come with family connections. He also warns against nepotism. Tyler discusses his decision to stay in the building even when he broke off professionally to do his own thing.
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