Latest / The Family Teams Podcast / Ep. 197 | What Happens When a Family Team Gets a Hold of a Business?

Transcript

Ep. 197 | What Happens When a Family Team Gets a Hold of a Business? · The Family Teams Podcast

• 0:00
  There's no one way to do this. There's no formula. There's no like, if you're a family Christian business owner, do these things.
• 0:12
  Hey guys, welcome to the 5-Minute Fatherhood Podcast. I'm your co-host, Jeff Bethke, along with my friend and mentor, Jeremy Pryor. Join us Monday through Friday as we chat about quick tips, skills, and ways to help equip you on your journey as a father to build your multi-generational family team on mission. Stay tuned.
• 0:33
  What's up, guys? Welcome to another 5-Minute Fatherhood. So if you like In-N-Out, like I do, I have to have one of those burgers. Yes, especially for those of us who don't live anywhere close to the West Coast or California and we miss it so much. Although I think they've creeped up in Texas or something, right? Is that right? Yep, yeah. They're like bleeding. They're bleeding to the east. Yeah.
• 0:53
  Yes. So one of the things we love to talk about here is what happens when a family team gets a hold of a business. It's like one of the coolest things that it's really difficult. It has lots of challenges, but it's always fascinating. Jeff and I are constantly talking about these different businesses. In-N-Out's one of them. The current owner, Lindsay Snyder, she's the heiress of the family business, and she talks about the biblical values that have been a part of In-N-Out from the beginning, and
• 1:23
  And if you guys, I don't know if you remember the moment where somebody pointed out when you had one of those cups and you lifted it up and saw the little verses on the inside of the cup. And it's like, I remember when I first saw that when I was in college and it just started so many conversations. I don't know how many people have talked about, not just like, oh, that's interesting that there's little verses there, but also just what does it take to have a business where you're allowed to print verses?
• 1:46
  Yeah, totally. Even on the inside, it's just fascinating. So she teased that out a little bit and says, Biblical values have been a staple in In-N-Out ever since Lindsay's uncle, Richard Snyder, famously began printing John 316 below the restaurant's drink cups. Lindsay has since expanded that practice to include Proverbs 2416 and Luke 635 on the fry containers and hot beverages.
• 2:07
  Okay, she says, quote, It was my Uncle Rich who put the Bible verses on the cups and wrappers in the early 90s, just before he passed away, she said. He had just accepted the Lord and wanted to put that little touch of his faith on our brand. It's a family business and will always be, and that's a family touch. In later years, I added verses to the fry boat, coffee, and hot cocoa cups. So...
• 2:32
  It's super cool. So this guy became a believer right at the end of his life, put this little touch. And like she said, this is the power when a family privately owns a business. There are all kinds of fascinating elements. And we, Jeff and I like to refer to these as sort of points of integration.
• 2:49
  places where you kind of take maybe elements of family culture and throw it in your business a little bit, elements of your faith and throw it in your business in a really appropriate way. And there's no one way to do this. There's no formula. There's no like, if you're a family Christian business owner, do these things. In fact, when you see people do that, it gets kind of creepy. What's really fun is you see like really cool, interesting ways that people just feel led by the Holy Spirit to create a little integration. Yeah.
• 3:18
  It's a huge passion of mine. I know Jeff's to like help coach people that own businesses. Like, how are you doing this? Like, are there cool ways you can create integration? But yeah, Jeff, what is that? Well, one thing I'll say, and then I want to, and then it'd be, like I said, this is perfect to talk about one of our fun, new, exciting projects, but it's what I love. And what I'm hearing too, is like, the thing about, it's awesome about family businesses is it's, it's easier for you to hold onto the culture through the generations. Right.
• 3:44
  Right. Yes. There tends to be no one care. Like the next CEO that takes over 30 years from now, usually that has a lot harder time keeping some levels of a vision over a long period of time without just kind of making their own, which every every generation should have their own. But like within a strand, within a line and a multigenerational family business can do that really well. And what you said, too, is I think it's interesting as small.
• 4:04
  it's easier for also family to do that in family businesses when they're smaller plate points of culture, right? If you're kind of having a really heavy vision, then that, that is sometimes the next generation will want to buck out of that. Right. But if you kind of know like, Oh, this is a fun little small way that actually has really big impacts to kind of be us, to be like our last name, to be our culture, then like everyone keeps it. Right. And it kind of becomes almost something that has like extra meaning and baggage attached to it in a good way. And so, yeah, but I totally thought of integrated when you were talking about this. So,
• 4:32
  Tell people about what that is and why we're so stoked of, yeah, 15, 20 guys staying in a house together, working on our businesses, working on our families. What's the plan?
• 4:40
  Yeah, guys. So Jeff and I want to, we're starting a new project this year where we want to get a group of guys together twice a year for two and a half days each time and just talk about three things. How do we grow each other's businesses? How do we integrate our faith into our business in ways that are creative and really helpful but not destructive? And how do we integrate family into business? And so the group is actually called Integrated. So we're going to post information on that at familyteams.com slash integrated.
• 5:07
  So if you guys want to find out about that group, if you own a business, man, I cannot tell you what an opportunity you have to do some amazing kingdom things. And to what Jeff just said, to really cement a multi-generational culture. So that could be into assets that you guys are building into a business, or that could be an active business that you're personally owning and running.
• 5:28
  And if you are in that situation, you or you and your partners or whatever, we would love to spend time with you, spend five days a year just talking about this and then coaching times in between, just really getting a conversation going between us as business owners and as family team builders. And so if you're interested in that, go check that out. It's just called integrated or familyteams.com slash integrated.
• 5:50
  Hey guys, we know it's really challenging to try to build your family team when all the tools you've grown up with or seen essentially are aimed at only helping develop family members as a collection of individuals. That's why we launched familyteams.com, where you can find all the tools we've developed with tons of resources at different price points, free courses, videos, writings, etc. that help you build up and transform you and your family into a multi-generational team on mission. Check out all the resources we have over at familyteams.com.