How Do You Manage Decision-Making in a Large Family Business?

Listen to Anthony Esposito discuss how decision-making processes evolve with the business.

So right now, there’s no management of decision-making or difference of opinions. I’m going to answer how we are planning to do moving forward, but right now, I don’t necessarily think it’s a bad thing, and the reason why I say that is, although there are a lot of conflicting interests and differences of opinions, what we really want to get across is that it really doesn’t matter if it’s my idea that goes forward, or it’s my brother’s, my sisters or my fathers, it’s not about pride, it’s not about credit, it’s about, whoever it is, coming up with the best idea for the business. So I think that everyone needs to put their ego aside and think about the business at hand. So right now, there’s no processes implemented for decision making, everyone just pretty much bangs it out, says what’s on their mind, and at the end of the day, it might take longer, but we really want to hear everyone’s opinion and make sure we have the right one moving forward. That being said, obviously we can’t operate a business like this for years and years, so once the initial store opens and we get the foundation done, I think what we’re going to have is clear guidelines for different departments, different business functions and each family member’s going to be in charge of different business functions, so one brother might be more in charge of everything social media and online e-commerce related, one brother might be in charge of human resources or payroll, etc., etc.