In this episode, our hosts, Lonnie Sciambi and Stan Simkins, also known, respectively, as “The Entrepreneur’s Yoda” and “The Family Biz Doc,” bring on the first guest to their podcast, Mr. Karl Kringle. He introduces them to his family-run toy manufacturing and distribution business and how he and his brother, Kris, don’t quite see eye to eye on how the business should be run.
He talks about the interpersonal issues that come, a great deal, in family businesses that are often based on family interactions rather than business rationale and how some of the younger siblings aren’t taken as seriously as the more senior ones.
He talks about “things slipping through the cracks because of the lack of good systems and procedures. And how, without good management, prima donnas and “favorites” can evolve among the employee base, especially key ones.
And finally, he covers “supply chain issues” that are plaguing even the North Pole this holiday season…and lots more!
As we touched on in a previous episode, family business is fraught with emotion and the dynamic duo of Stan Simkins and Lonnie Sciambi will reinforce that emotion with this new session with your personal tour guides to business freedom. And, as always, they’ll regale you with war stories, that both carry a solid message, lesson or may bring a chuckle or two. And of course, the best of the holiday season to all of you and best wishes for a prosperous and safe new year.
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