To maintain team morale and respect, family members in the business must hold themselves to a higher standard. This means working harder, arriving earlier, and never asking for exceptions, ensuring the team sees their position is earned through merit, not just their relationship to the owner.
Related Insights
To cultivate a culture of high agency, frame ultimate responsibility as a privilege, not a burden. By telling new hires 'everything's your fault now,' you immediately set the expectation that they have control and are empowered to solve problems. This approach attracts and retains individuals who see ownership as an opportunity to make an impact.
Elite salespeople understand that closing deals requires a team. They actively cultivate advocates within their own company—in operations, support, and finance—by treating them well and recognizing their contributions. This internal support system is critical for smooth deal execution and ensures they can deliver on client promises.
At Vanguard, strong job performance alone is insufficient for career longevity. The company's culture, shaped by leaders like Jack Brennan, mandates that managers must also excel at developing and leading their people, making management skill a core requirement for success.
To build a loyal and effective team, leaders should constantly make "deposits"—helping employees advance, improve, and do their jobs. This builds goodwill, so when a leader needs to make a "withdrawal" by asking for something, the team is happy to oblige. This applies to customers, employees, and government stakeholders alike.
While you don't need to be a parent to start a family-focused business, you must compensate for this blind spot. An investor would scrutinize a non-parent founder's early hires to ensure parents are on the team and have direct access and influence over key decisions.
WCM avoids the 'family' metaphor, which implies unconditional belonging and can make performance conversations difficult. They prefer framing the team as 'a group of friends,' which emphasizes voluntary commitment and a mutual desire not to let each other down, fostering greater accountability.
![[REPLAY] Paul Black and Mike Trigg – How to Build a $100B Money Manager (Capital Allocators, EP.227) thumbnail](https://static.libsyn.com/p/assets/f/b/7/6/fb76e1c8bfb69e8dd959afa2a1bf1c87/CA_Square_logo_light_background_6.26.24.jpg){kind=logo}
At Crisp.ai, the core value is that the best argument always wins, regardless of who it comes from—a new junior employee or the company founder. This approach flattens hierarchy and ensures that the best ideas, which often originate from those closest to the product and customers (engineers, PMs), are prioritized.
The primary goal in a family-run business should be preserving relationships, as work provides meaningful time together. Choosing money or ego over family creates tension. Often, the real friction stems from a perceived lack of respect, not just financial disagreements, which can poison the dynamic.
When making tough personnel decisions, leaders should frame the choice not as a personal or purely business matter, but as a responsibility to the rest of the organization. Tolerating poor performance at the top jeopardizes the careers and stability of every other employee, making swift action an act of collective protection.
