Running a family business can be a great source of pride and satisfaction but can also be challenging. And one of the most critical factors in the business's success is the relationships between family members. From communication and collaboration to trust and respect, what other aspects make a difference in the growth and development of the business?
In this episode, Brett talks with Bill Hale. As a veteran entrepreneur who runs a family business, Bill shares how he and his son started their business, what it means to provide superior customer service, and what the power of positive relationships can bring to your business.
In This Episode
01:06 - Backstory of Bill Hale
07:57 - The story of how Bill and his son started their business
10:49 - Bill's working relationship with his son
16:27 - The ideal amount of expenses when starting a business
18:15 - What it means to provide superior customer service
24:33 - Bill's perspective on finding the right team member
28:05 - Some of the challenges Bill faced while running his business
32:03 - How Bill and his son manage their cash flow
33:58 - The benefits Bill provided for their employees beyond monetary compensation
43:45 - The best way to determine if you're serving your industry well
46:58 - Bill's key takeaways for running a family business
Favorite Quotes
20:12 - "Be nice to your customer. They're paying your salary. Don't lose that concept. Those are the two most important things if you've got a business. If you do that consistently, you're head and shoulders above everybody else." - Bill Hale
27:21 - "If you say you're going to do something, do it. Don't let anything stand in your way. If you say you will do it, take it to the bank and get it done." - Bill Hale
33:41 - "My son and I took lesser pay and passed that on to our employees. If you have happy employees, they will do a better job. So, it's not always about money in your pocket." - Bill Hale
39:09 - "As an owner or a manager, listen to your people because they'll give you good information. But at the same time, if they want to be slugs, you have to address that because your other employees know who is not working. And that's a downer if it's not addressed." - Bill Hale
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