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The biggest challenge would be encouraging growth with people outside of your base. You become a $50m company, and the young manager you hired is turning out t
by columbo 14y ago
The biggest challenge would be encouraging growth with people outside of your base.
You become a $50m company, and the young manager you hired is turning out to be better than your sister/brother/wife/husband... are you ready to replace one of those people with an outside person?
As an outside individual I tend to be wary of working for a family run business because the chances are that I will never be able to replace the owner's wife/brother/sister/husband, instead my maximum growth will be the tier below the family.
- cwallenpoole 14y agoThis is true of a lot of founders of companies though. A lot of times the person who is the most invested in leadership for the early success of a company is not necessarily the best person to lead the company in the long term. Zuckerberg is probably the most noticed, recent example: he lead Facebook to the top of the social networking scene, but now investors are scared of him. Objectivity is something you always need in business.
- fooandbarify 14y agoSure, objectivity is good, but often times difficult decisions have no objectively clear optimal path (eg. there are many good arguments to be made for why MZ should not be replaced, and even time will only evaluate a single path). Emotion has been a useful (though admittedly fallible) cognitive shortcut for our species in those situations.