Secrets to a Successful Family Run Business

We’ve all heard that you need to be extremely careful when getting into business with your family. However, there are still some people who can do it well, and today’s guest is one of them.

Chad Banks joins the guys from Universal Screens to talk about his family business that he’s been running for over 20 years. What started as a business he ran with his wife, has now evolved to something that he runs with not just his kids, but even his children-in-law.

Chad talks about how he’s been able to build a successful business, while also keeping his family close, and what matters to him the most as he’s growing his business.

He also talks about why keeping their eye on growth has been such an important piece to helping them continue to grow year after year.

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Full Episode Breakdown:

1:57 - Meeting Chad and learning more about how he built his family business (and why failure was such an important step to his success).

4:20 - Chad tells the story of why he worked with Universal Screens the first time.

9:33 - The guys jump into understanding the family dynamic of running a business, and how Chad works with not just his wife, but his children too.

12:58 - At what point did Chad learn to let his kids be themselves, and push the work hard, play hard philosophy?

15:49 - Chad talks about how he learned to let go of control and letting his kids work in the business.

20:04 - Learning how to flip the switch when it comes to shutting off the business, and just enjoying life.

24:30 - The guys talk about learning how to drop the relationship side and coming back together when things may go south.

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