Foodservice Equipment & Supplies

MAR 2015

Foodservice Equipment & Supplies magazines is an industry resource connecting foodservice operators, equipment and supplies manufacturers and dealers, and facility design consultants.

Issue link: https://fesmag.epubxp.com/i/469441

Contents of this Issue

Navigation

Page 89 of 91

88 • FOODSERVICE EQUIPMENT & SUPPLIES • MARCH 2015 parting shot Family-Owned and Operated Businesses – The Formula for Success F amily-owned businesses are central to the American economy. Approximately 90 percent of American businesses are family- owned or controlled, according to the U.S. Census Bureau. Leaders of family owned and operated businesses have a daunting task in trying to be successful now while positioning their organizations for continued growth. Customers seemingly want things faster and cheaper than ever before. New technologies offer great promises but come with much risk if you are on the bleeding edge. Process- ing all of this can be overwhelming. Business leaders need to see what's coming down the road, assess their business' strengths and weaknesses, and take action quickly to remain one step ahead of the competition. We are second and third-generation family business owners and have weathered these challenges and more throughout our 88-year history. What have we learned along the way? For starters, we see being a family-run business as an advantage. Our corporate culture is one that places an emphasis on treating employees well and values their contributions. They feel they are not a number and quickly come to understand everyone knows their name and cares about them on a professional and personal level. That approach goes back to when the company was founded in 1927. We have always made it a priority to work with people to help them grow and improve. The company is even known for giving people second chances. So our people-frst culture remains ingrained in us to this day. This translates into longevity and dedi- cation from the employees, many of whom have been here 20 or 30 years. Simply put, if the employees do well then the company will do well, too. Continuity is another clear advantage for family businesses like ours. The values that serve as the foundation for how our company conducts its business are our fam- ily's values, passed from one generation to the next. Unlike publicly traded companies where leadership often comes and goes, we are here for the long haul. Our culture impacts what we do and how we do it. Even after we make the transition from one generation to the next, the previous leadership will be there to help when we need it. We can bounce ideas off each other and discuss the business to make sure we are on the right path. Accountability is another attribute that will help a business withstand the tests of time and ours is no exception. Some business people view their organizations as being there strictly for the beneft of their families. We feel the business is here to beneft everyone that works here. We have to hold family members to the same standards as everyone else in the company. Along with these tricks of the family- run-business trade, relationship manage- ment is at the core of our success story. We function as a team because we see value in that trait of our business' culture. And after almost 90 years, we're not only confdent in our approach but also enthusiastic about the future. We have always made it a priority to work with people to help them grow and improve. "Parting Shot'' is a monthly opinion column written on a rotating basis by guest authors. The opinions expressed are not necessarily those of FE&S. By Roger Kauffman President and Caroline Kauffman-Kirschnick Operations Manager Electric Motor Repair

Articles in this issue

Archives of this issue

view archives of Foodservice Equipment & Supplies - MAR 2015