John Eilermann St. Louis – Tips on Taking Over The Family Business
Listen to this articleFor John Eilermann St. Louis CEO of McBride Homes, taking over from his father was something that he had always dreamed of doing. Whilst McBride was not exactly a family business, it had been John Eilermann Snr who took the real estate company to the dizzying heights which it found. John began working with his father at a young age, and was quickly taught the ropes of the industry. Recent John has been discussing the process by which he took over from his father and offered some tips to those who do end up taking over the family business, as to how they can make it a success.
Bringing Change, With Respect
There is a fine balance to strike for any heir, and that is to be able to bring in change and fresh ideas, whilst still respecting the ethos of the business and the work which has already been done. There are 2 mistakes, which people make when they step into this kind of position, the first is that they try to reinvent the wheel, and end up losing out on what made the business great in the first instance. The second problem is that they try to continue in the same way that things always were, which doesn’t work in an ever-changing landscape. It is essential that you bring in the new, slowly and with respect to the old.
Taking Advice
Taking over from your mother or father doesn’t mean that you no longer listen to what they say. They are not the authority on the business but they still have some valid insights which you can learn from. Even John spoke about speaking with his father on certain issues or decisions which he had to make. Taking over the reins doesn’t mean that your parents no longer have a valid opinion.
Honoring The Legacy
No matter what moves you make what changes you bring about or how you operate the business, it is important that any decision is taken from a place, which honors the legacy of what was built. This means that you always maintain those values and the ethos which have been brought into the business. These things take many years, sometimes decades to create, and this is why it is so critical that you look to honor that legacy wherever you possibly can.
Seeking Longevity
And finally, this stage of your career should be about seeking longevity for the company, perhaps even with an eye on handing the business down to your children one day. If you have taken over a secure and stable business then now is the time to work hard on moving that business to the next level and continuing the great work which has been done.
There is some level of pressure here but the reality is that you should operate this in the way that you have always known, and how you have always been shown. Work hard on cementing that legacy and you will be just fine.
