Bringing in a family member into your construction business and transitioning leadership is more challenging than you’d think.
But our guests for today had cracked the code and can now go on vacations without being on their phones or laptops.
In this week’s episode, Construction Leading Edge’s Systematize Your Construction Business (SYCB) coach Monish Khadye speaks with Tru Builders’ owners, Max and Lori Christiansen, and their daughter/senior designer, Cassie Parra.
Today, Max, Lori, and Cassie share their lessons on how they made it through the 2008 slowdown, navigating business transition, and the systems and processes that make their construction business successful.
Let’s dive in!
Navigating a Business Transition
There’s something special in building family businesses. Family businesses offer the opportunity for the entire family to work together towards a shared goal and create a legacy that can last for generations.
However, transitioning a family business from one generation to the next can be a complex and emotional process, with potential pitfalls and challenges.
But don’t fret. Tru Builders’ owners, Max and Lori Christiansen, are living proof that you can avoid all those complexities with the right systems and processes. (Check out episode 285 on family partnerships.)
Here are some of the tips they shared on the podcast on successfully navigating a family business’s transition from parents to children.
1. Start planning early
The transition of a family business should ideally be a long-term process planned out well in advance. The earlier you start planning, the smoother the transition will be.
2. Communicate openly and honestly
Communication is key when it comes to family business transitions. This means discussing expectations, roles and responsibilities, and any concerns or issues that may arise.
In Max and Lori’s case, all six of their children knew they could work for a paycheck on their family business.
However, they are pretty straightforward with their children that they’re not going just to hand over the company to them; instead, they have to earn it.
3. Establish clear roles and responsibilities
As the children take over the family business, it’s essential to establish clear roles and responsibilities for everyone involved.
This will help prevent confusion and ensure everyone takes ownership of what they do.
And Cassie, their daughter and head designer, knows exactly what she must bring to the table.
4. Seek outside advice
Transferring a family business from one generation to the next can be a complex process, and it can be helpful to seek the advice of outside experts.
This could include lawyers, accountants, and business consultants who have experience in family business transitions.
And this is how our Construction Leading Edge team got on Tru Builders’ radar.
The #1 Change That Made the Difference
You can certainly figure out how to transition your business smoothly through trial and error.
You could spend months experimenting, trying out systems, and seeing if they work. Meanwhile, dealing with all the chaos and profit bleeds along the way.
However, the Tru Builders’ team avoided that and accelerated their results by enrolling in our Systematize Your Construction Business program.
And it has been one of the best investments they’ve made in their construction business.
As Max would say, “The money that we invested in the class is back severalfold, and the investment was minimal for what we’ve gotten out of it so far. And I know it’s just going to continue to make us better and better.”
To know more about the systems and processes that make Tru Builders successful (and a zero-debt business), listen to the full episode above or click HERE to watch.
– Check out Episode 285 on Family Partnerships with Jake Lewendal HERE
– Schedule a FREE breakthrough session now with our team HERE
– Learn how to get out of your business and make it run without you HERE
– Visit Construction Leading Edge for more HERE
Connect with Tru Builders:
– Check Tru Builders’ website for more info HERE
– Follow them on Instagram HERE
– Got any questions? Send your email to firstname.lastname@example.org, email@example.com, or firstname.lastname@example.org
The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.
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