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Overview Transcript Case Study Video
Havana's loss became the USA's and Miami's gain.
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Be A Team Player
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Family businesses work because of what we can't see. In the case of the Navarro's, it's heart. You heard it straight from Jose Navarro, don't go into a business because you think that business will make a lot of money, be sure and find something you love. Work hard and the money will come. In addition to loving one another, the family members seem to see each other as a team members not as a persons who are lined up in some type of pecking order.

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Key Ideas from this Episode
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1. Small Business School Do What You Know
2. Do A Lot With A Little
3. Pour Your Earnings Into The Future
4. Speak Your Customer's Language
5. Hire People Who Want To Move Up
6. Inspect What You Expect
7. Change To Meet Demand
8. Increase Profit Margins With Private Labels
9. Enroll The Next Generation In The School of Hard Knocks
10. Put Others Ahead Of Yourself
11. Be A Team Player
12. Develop Core Beliefs
13. Use Technology To Dazzle Customers
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Topic for Discussion: How does a family-owned business incorporate more family members into the business as the company grows?

Answer: Roles and responsibilities are critical. The Navarro's involved each child in the business at a very young age. They nurtured their children both inside and outside the business, allowing each to explore the company and self-determine how and where they could contribute to its growth. You heard Marcel; he was encouraged to find something he liked and "just go ahead and run with it."

Topic for discussion: No one, not even a loving parent, can determine another's destiny. How do you guide and support family members in making the right choices for their involvement in the business?

Answer: What you can't do is match the open positions at the business with the available family members. Just because the company just lost its Controller or Sales Manager does not mean that the family member entering the business has either the skill or the interest in a specific role. As you incorporate new family members into the company, allow them the opportunity to work in each facet of the business, see what interests him or her.

Guide them through the process but don't dictate it or even try to influence them to assume a specific role. They may even come up with something unique that further expands the company, leading to additional growth and profits.

You think about it: Are there family members you could recruit if you took the right approach? Do you have family members who aren't reaching their potential working in other organizations? Are you the kind of person your family wants to work with?

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