7 Challenges Every Family Business Faces | MSNBC Interview

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Greg Alexander, CEO of SBI, provides valuable input on dealing with common issues a family business may encounter.
01:10 Evolving the family owned business: old school vs. new school
03:16 From traditional to digital: how formal should the transition be?
04:09 How do you separate work from the dinner table?
04:50 What should small businesses do to acquire credit?
06:38 Can you market to various demographics with one message?
08:20 How do you save money on health benefits?
09:56 How do you evaluate employees when you aren’t in the office?
SBI TV Episode Summary:
Greg Alexander is joined by Phil Town and Max Ramberg to discuss common problems a family business may encounter, especially when related to a clash between the technology-based incoming generation and the older generation with years of business management. They then discuss how to transition from that “old school” to “new school,” not only people but also technology.
Next, the panel answers questions from several small business owners. Questions include how to get credit for their company in the poor economy, how to market to various demographics with one business strategy, and how to save money on your employee’s health benefits.
Finally, they discuss evaluating and grading your employees in order to measure performance and properly reward the employees, despite a busy schedule.
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SBI is a firm comprised of former sales and marketing leaders who spend every minute of every day thinking about one thing: Making Your Number. We are a firm drawn to companies with aggressive goals and unreasonable timelines because we enjoy working on projects with a lot on the line. Our business is built to over-serve a small number of clients. We are not trying to please everyone, and we always put our money where our mouth is. Because of this, we tend to develop deep and long lasting relationships with our clients and coworkers that extend beyond the office.
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[@disbishryhier6889]

I'm the 3rd generation working in my family's business and it's got its pro's and cons. The best aspect, you have a job where you can be free from fear of being fired (unless you do something unacceptable). Biggest con is something that probably out weighs the good: your family WILL screw you over, as they do each other. Secrets, back stabbing, exploits, and etc. Work drama does follow you home and even worse home drama follows you to work.

[@donelion6459]

How do you deal with it ? I am also in the same situation 2nd generation though and it drives me nuts at times . It's almost as if there is an us vs them attitude

[@AN-jz3px]

A fucking men!!!

[@mypapaya590]

But doesn't that make the business less competitive? Instead of hiring the best job candidate(s)?

[@jannej4301]

My papa always brings the business to the dinner table..it feels like a meeting everytime. Feels like we always have to be careful with our words

[@donelion6459]

It annoys me when the same happens . My older brother is also taking up this attitude which makes work tiresome . And whenever you are called to talk you always ask yourself if you've done something wrong or there is a problem .

[@nicolenew1708]

OMG