In this episode we were joined in studio by Bill Streb, owner of Streb Electric a second generation electrical services company. During the show Bill shared several stories about how he got into the family business and eventually purchased it, including breaking the news to his wife!
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How Do I Get Money For My Business?
Most owners start and fund the initial growth of their business through a combination of their own personal savings, borrowing from family and friends, and maxing out their credit cards. As those sources of money dwindle or become tapped out, the growth of the business can often be stifled by this lack of capital. It’s at this point that many business owners approach alternative money sources (e.g. bankers or investors)
Family Business Issues – What’s Best For The Organization?
Small business can be emotional. This isn’t a good or bad thing. It’s just a thing. It can be a great thing if you can get your team emotionally connected to the business where they start to take ownership of their decisions and activities.