Your College Grad Can Boost the Family Business
Richard ‘Rick’ Lippert, owner of I/O Trak, a central Florida document management services business, has this to say about hiring your college grad to work in your small family business:
As one of the 90% of U.S. businesses that are family owned, bringing our son Troy on-board as a principle player within the organization has been like main-lining with a rush of new, innovative and creative ideas. Having grown up in a household where ‘the business’ was the family’s source of income, working at nearly every role we have in our 45-person operation during his formative high-school years, he’s gained a first-hand understanding. This makes Troy an awesome steward of our organization’s resources – someone coming from the outside could never fully understand.
Troy’s a Millennial and has been able to infuse a breath of life into I/O Trak that’s fresh and more relevant. This makes us more highly capable, adaptive and responsive within the industry and the clients we serve.
As a business consultant, I work with many family businesses. If you’re worried that your son or daughter won’t get a job, hire him or her in the family business! It’s kind of a no brainer.
Because if you want to keep your business in the family, you may consider grooming your son or daughter to take it over one day. Even if your son or daughter doesn’t take over the family business, he or she will have gained job skills needed to get a dream job or start a small business. If not, your son or daughter may move back home and never leave. Do you really want your kid living with you forever? I don’t think so.
Keep reading to discover five reasons why you want to hire your college grad in your family business.
5 Reasons to Hire Your College Grad in Your Family Business
1. Social media gurus.
Let’s face it; college grads today are hooked up on social media networks. From Facebook to Snapchat, they’re all over the internet connecting with brands, grads like them, recruiters, and others. If your small business is not taking advantage of social media marketing because you don’t know a ‘status’ from a ‘tweet’ or a ‘pin’ from a ‘tumble’, your college grad can create a Facebook, Twitter, and Pinterest business page for your family business and you can boost your leads and sales in less than 2.5 seconds!
2. Fresh business ideas.
Have sales in your family business decreased? If your college grad has a marketing degree, let him or her analyze marketing and sales data. He or she can also speak with your sales and marketing team to find out why sales have declined. Your college grad may discover that packaging is outdated and needs a major makeover. Perhaps your sales team has low morale. Tap into your college grad’s brain because he or she will have fresh business ideas that could revive your sales quickly.
3. Techie to the core.
It amazes me that many small businesses do not have a website and/or don’t see the value of having one. What?! You’re letting money slip through your fingers. If your son or daughter is an IT wizard, have him or her build a website for your business. You may want to use a content management system like WordPress, so you can have a blog. Take advantage of content marketing (see point #1 social media) and you can increase your bottom line in no time.
4. Continue the legacy.
Maybe your college grad hasn’t expressed interest in taking over your small family business. But, if your son or daughter works in and on the business, he or she may get a new found appreciation for the small business you, your parents or grandparents built. Your college grad may even express interest in taking over the business when you decide to cut back your hours and/or retire.
5. New approach to human resources.
Working in a business today is different from when you graduated college! Most employees want to feel a part of the business and don’t want to be just another body sitting in a cubicle mindlessly doing their work. If your college grad has a degree in labor studies and employee relations or human resource management, let them speak with your employees to find out how the family business may incorporate their feedback to grow the business. Not only can you discover how to better run your family owned business, but you may learn that some employees are not a good fit for their job. Ouch!
Hire Your College Grad in Your Family Business Today
While you may hesitate to hire your college grad in your small family business, he or she may have an abundance of fresh ideas. For example, if you own a franchise, you may have considered expanding into other markets. Hire your college grad; groom him or her, and voilà! You can easily get into other markets and maximize your exposure and profits. If you have a home business and want to get into a commercial real estate space, your college grad can research potential areas and use his or her negotiation skills to get you a great deal on a lease. See that. It pays to hire your college grad in your family business.
Coach Jenn Lee is a small biz strategist, marketing consultant and rockin’ high energy motivational speaker, and the founder of The Work Creative. Obsessed with small business owners and corporations who “get it” Jenn leverages her 25 years corporate sales and marketing experience to speak to small business owners, sales teams and companies across the nation. Her spot-on advice has made her a regular contributor on Orlando’s FOX News, and FOX Business Network, and is often featured in entrepreneurial podcasts and quoted in national magazines . Follow along at @coachjennlee