You built a small business business, but now it’s time for passing the baton to family. Are these Family Business Heirs ready? Moreover, is the business ready? Is the business organized through systematization whereby you’re not passing on, frustrations and chaos. In other words, passing on the very things you dislike about the business, i.e. working long hours bogged down the mundane operations of your business.
The late Larry Burkett wrote: “If I had to identify the area of finance that is least understood, it would be inheritance. Not only do people wreck their lives by hoarding, but they also wreck the lives of their children and grandchildren with abundant inheritance.”
The Decision to Step Away from the Business
The prospect of passing on the business I started in 1988 to my children has been on my mind for some time. I believe they would tell you I have been a pretty good provider over the years. Yes, even as I was building a commercial printing company, and then a second company that designs and markets software.
I have three great sons—Paul, Barton and Brandon Beyer. All of them are such individuals, I could only hope they would take a serious interest in carrying on the business, at some point. I would then be able to enjoy other interests, like time to travel with my wife Susan. It would be great to do more software development, and have time to write at least one more book!
Beginnings of a Family Business
Paul, the eldest of the “Beyer Boys,” was in print production for more than 20 years at our company. He has vast experience in every phase of print manufacturing operations. He’s great with technical hands-on, one of the best pressman around, and a huge proponent of the systemization that drives our business. However, the economy had him thinking, like many in the print industry, that maybe he should go back to school and learn another trade. However he made the decision to continue in printing.
Embracing Systemization
At the time, my second son Barton was majoring in advertising at MTSU. He was thinking about launching out and making his way with a large ad firm somewhere. A few years ago, when seeking a new prepress manager, he took an interest in that aspect of the business. Barton is the best prepress manager Beyer Printing produced. Barton willingly embraced our written systems of quality control, preventative maintenance and other control systems for the prepress department. Those were in place when he took the position. He has given credit to our systematic approach many times, saying, “I would NOT have been as effective in so short a time without these systems!” Still, I felt sure the first big advertising agency offer would whisk him away from our business.
Five years ago, Brandon, the youngest and tallest of my boys, talked much about traveling to Japan and other parts of the world after graduation. That was before he took a serious interest in the way we handle systems in this business of ours. He began sharing ideas for improving our systems, and finally came to work at our systems software company, Ebiz Products, to train new clients. Brandon has become a top-notch trainer and systems demonstrator for Ebiz. He now enjoys working with many owners and managers who opt for systemization in their own operations.
I believe a good father trains up his children to live productively in the “real” world, and to take advantage of every opportunity to learn skills that will allow them to grow and support their own families at some point. If my sons didn’t want to be in the printing or software business, I would hope I had instilled that legacy in them to take into whatever vocations they might pursue.
Hey Dad, I Think it’s Time
A few months ago now, Paul and Barton came to me, separately and together, to discuss their interest in “stepping up” and taking the reins of the printing company. I can’t tell you how much that meant to me personally!
Paul is so skilled and ready to take the lead, technically and creatively, in the production aspects of the business—and Barton has more than shown his ability to manage the sales, marketing and administrative areas. It’s more than I might have hoped for.
One of the best decisions I ever made for our company was hiring Paul’s wife Jennifer as head CSR and also as Production Administrator. Since 1994, she has shown consistent leadership in the implementation and application of our systems in all aspects of her work, aiming always at the highest possible quality and service. She supports Paul fully in this transition now.
Soon, I will gladly pass the baton to the “Beyer Boys” (Jennifer, too), to carry on with growing our printing business that was started on a hope and prayer (literally!), nearly 27 years ago.
We Owe Our Family | The Right Order of Thing
I believe we owe it to our children—the next generation—to help equip them to do the same for their children. I also believe in leaving children an inheritance that includes a legacy of love, faith and integrity. To my mind, it’s the answer to much of what has been lacking in our country and our world in recent years.
Thinking about what Larry Burkett said years ago, I don’t believe in hoarding or in leaving children some kind of blank check—piles of unearned money to just squander on their lives, without thought of what it took to earn any of it.
However, I do believe that leaving the legacy of a good name and the fruit or seeds of a productive life is a right inheritance for our children—the RIGHT order of things! That’s a great system!
Did I mention? Great systems work!
[UPDATE Nov 4, 2016 – It has been several years since I sold my business building and passed the baton of my printing company to my sons, Paul and Barton, who are now co-presidents of Beyer Printing Inc. in Nashville. Son Brandon, my wife Susan and I now operate the second company, Ebiz Products (System100 software) at another location in the Greater Nashville area. It was done in right order, and our systemized businesses are still going strong!]
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