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create multiple revenue streams
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Overview Transcript Case Study Video
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David LanCarte keeps hot sauce on the grocery stores shelves.
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Develop New Products To
Develop New Leaders
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A business must grow revenues as each member of the new generation joins. If this doesn't happen, the business is squeezed for profits.

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Key Ideas of this episode
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1. Become An Icon
2. Pay Attention To Details
3. Be The Person Your Children
Want To Work For
4. Treat Suppliers Like Family
5. Develop New Products To
Develop New Leaders
6. Start With Quality Ingredients
7. Find Joy In Every Task
8. Test New Ideas
9. Keep It Simple
10. Make Work Your Recreation
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Many family businesses couldn't sustain the number of family members who make a very good living from Joe T. Garcia's. The reason there is room for all seven children is that each of them has found a way to add products and services which add sales and profits to the entire enterprise.

Topic for Discussion: What parts of the business have been added because the children have developed them?

Answer: The bakery is led by two of the brothers and has grown from a tiny take-out counter to a large eat-in restaurant across the street from the original Joe T. Garcia's. They deliver breads to nearly 100 grocery stores. They have a robust online presence. David heads the food division which distributes hot sauce to hundreds of retail stores. Jodi developed the catering and onsite party business. The newest addition is the work of Hope's grandson. He is a chef, the first in the family ever to go to culinary school, and he has a fine dining room. It is a restaurant within a restaurant and it is booked by reservation only.

You think about it: Can you help your children find their talent then guide them to develop a product or service around that talent?

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