Every family business that’s growing and expanding runs into some challenges. From navigating tough conversations with family to determining a centralized versus decentralized model, there are numerous things to consider. Joe Patterson’s family business overcame the challenges that came their way and expanded globally.
However, they had lofty goals for the business and ultimately needed more capital to realize those goals. Joe shares how they expanded their family business and why they sold the majority of their shares to private equity in this episode of MakingSparks. Listen to learn how you can help your family business make sparks, grow, and make money.
communication with your family? How do you foster open communication in difficult conversations?
Running a family business is full of unique challenges—and successes—that many other businesses don’t have to think about. But navigating those challenges doesn’t have to be difficult. Tad Dickel returns in this episode of MakingSparks to cover it all.
– Matthew Nix
If you missed part 1, go back and listen HERE.
Nix Companies is a fifth-generation family business in an industry that's predominantly privately held and family-owned. Family-owned businesses are the fabric of our economy. Today’s guest on MakingSparks, Tad Dickel, is a Leadership & Strategy Consultant with a special interest in family-owned businesses. He helps them with everything from governance to succession planning.
Tad shares why having difficult conversations with family early can make a profound impact on the long-term generational success of the business. He also covers how to have those conversations. Don’t miss this one!
– Matthew Nix
Cutting tool manufacturers have to remain on the cutting edge. If you do so, it’s possible to stay competitive. We know that a solid education and training for new talent is the best first step. But you also have to learn to embrace grit to make it through. We cover what else is important to remain successful and competitive in this episode of MakingChips.
– Drew Crowe
Out call-to-action: Bring us someone who can talk about innovation in the tooling industry in North America.
Andy Mueller is a seasoned vet in manufacturing, one of the real OGs. I’ve leaned on him for advice and support throughout the years because he’s been through the seasons and weathered the storms. Andy was able to step in and teach my students things that I couldn’t with my limited resources. That’s why, in this episode of MakingChips, we have a conversation with Andy about inspiring the next generation and teaching them what they can’t learn in classes. Because if they aren’t MakingChips, they aren't making money. BAM!
– Drew Crowe