Saturday, December 24, 2016

Close family ties, and a secret recipe, keep business going; Pittsburgh Post-Gazette, 12/24/16

Steve Twedt, Pittsburgh Post-Gazette; Close family ties, and a secret recipe, keep business going:
"While the special seasoning recipe is kept locked away, the reason for the durability of the business may be no secret, suggested Kelly Hunt, Pittsburgh district director for the Small Business Administration, which named Ricci’s “Family Owned Business of the Year” in 2010.
“The No. 1 thing I have found is that there has to be someone in the family in each generation that shares that passion, and not just the passion, but who has the skill set,” she said...
Nonfamily businesses typically have organizational charts with a clear leadership structure where purchasing and hiring decisions get made in a disciplined and deliberative manner. “When you’re working with people who are not family, it’s more regimented. You can’t go and make a large purchase without talking to the CEO,” she said.
With a family business, “It kind of gets a little bit cloudier.”"

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