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Construction Executive Magazine: What Type of Leadership Is Needed to Sustain a Family-Owned Business Through Economic Changes and Generational Differences?
Posted @ 8/26/2016 7:48 AM
Posted in
Uncategorized
,
Construction Economics
,
Member News
|
5 Comments
ABC Greater Tennessee Chapter's Board Chair and President of
Stansell Electric Company
, David Stansell, recently participated in a Q&A with
Construction Executive Magazine
. Check it out at the link below.
You can check out the full piece
here
or read David's answer below:
My grandfather founded Stansell Electric Company 76 years ago in his garage in Nashville. Soon after the business really got going, he needed extra help, so he invited his two brothers to join the company and gave each of them one-third ownership in the business. This created second-generation problems right away. They had different styles and ideas about how things should be done—just like we do today—but they found a way to make it work.
A big part of what made them successful, and remains a key part of our success today, was a strong sense of shared values. My dad grew the business significantly, especially into some key, niche areas. My brother Jake and I decided it was time to actually write down those core values and talk about them regularly as our company grew. We think this is an important part of why we have such a strong team today and continue to bring in people who share those values, even as we have grown to more than 200 employees and locations in three cities throughout Tennessee.
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