The 6 Traits of Our Strong Family Business
Burst Management is family owned and operated and very proud of it.
In the article, 6 traits of Strong Family Business, it states that family businesses are only successful when following four rules: maintain good governance, identify and develop both family and non-family talent, pursue disciplined succession, and preserve family gravity.
Family gravity according to the article by Claudio Fernández-Aráoz, Sonny Iqbal, Jörg Ritter, and René Sadowski with over 306 case studies completed have determined the following traits must be followed in order to have a long-lasting and thriving business.
1. Values system: our moral center and how we differentiate ourselves
2. Vision for the future: we set common goals and determine priorities
3. Involvement: responsibilities and be a positive force for the business
4. Cohesion and interaction: mutual understanding, respect, and support for each other
5. Family governance: decisions are made and authority exercised to avoid conflict commit to professionalism and attract and retain superior talent
6. Leadership principles and roles: are clearly defined to ensure clarity in all facets of operations
Mike, Sheryl, Rachel, and Taylor have truly been building Burst Management since as long as we can we were formed as a family unit in 2003. Mike and Sheryl met, fell in love. Burst Management came later but only after years and years of doing trade shows as a family and learning that we were good partners, helping each other develop their own strenghts. Relationships that we have now are growing stronger as we mature together.
We now travel together while working, and meet many families, some who become our brand partners who also have family businesses. The dynamic is pretty cool and every day is both challenging exciting – and but because families do the work together, the end results are far more rewarding, even with the ups and downs of the CPG Industry!