In Family Businesses, Roles Are Assigned by Convenience

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

In family-run businesses, we assign a role based on convenience or need, not talent and skill, and propensity for the job.

And so, you know, we make people managers when they're not really managers. We put people in certain parts of the business because that's the opening that is there. And you do your best to try to match the, you know, some skillset to what they're doing.

In that dynamic, it's more important that the person has a job and is busy than they can do the job, at least, you know, for the family survival, if you will. And so it's oftentimes very mismatched who's working in the business and where.

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You Can Hustle to $3–5 Million — Then What? Pt. 2

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

Pinch point in that three to five million dollar range, where having a bunch of generalists, nobody knows marketing well enough to know how to do Google Ads.

Nobody knows logistics well enough to get the best trucking and rates other than just calling around like, how much will you be, how much will you, no. They don't know how to synchronize routes and points of origin. It's not point of destination, it's the point of origin that almost always reduces your shipping.

So they don't know a lot of these things and they're scrambling, and they're generalists in almost all areas, so that means there are challenges in almost all areas. So all of us being entrepreneurial and scrappy, while those are good attributes, they're not good techniques when you get to three to five million.

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

You Can Hustle to $3–5 Million — Then What?

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

Now this is common in all businesses, not just family business.

And here's part of what the challenge is, but I'll take family business for starters. Two family members get together and say, let's do it, whatever it is. Let's do it.

We're on, game on. And like every business, we all start out as generalists in the business. We wear multiple hats.

Well, you're pretty good with people, and you're in marketing. I'm pretty good with numbers. I'll take finance.

Great. But who's going to move the pallets in the warehouse? Well, what's wrong with your arms and legs? That'll be both of us. Right? And so we wear multiple hats and then you can hustle your way to three to 5 million in almost any business.

And just by sheer grit and determination, get there and listen, three to $5 million is nothing to sneeze at. That's you're in the top 4% of all businesses worldwide. That's a lot to be proud of.

But you realize that you hit a wall pretty easily because there's only so much of you to go around and what was working for you when you had $250,000 in revenue, as opposed to 4.5 million in revenue, that's where you're getting stuck because you now need specialists.

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