50. Managing the Dynamics of a Family Business | Spruce Industries

Driven by DCKAP

This week, our special guests open up about the sometimes difficult to navigate dynamics of running a family business in the distribution industry. While so many companies are going through mergers and acquisitions, as new generations move away from the traditional takeover of the business, some companies like Spruce Industries are doubling down, as the newer generations are taking the reins and leading the company into the future successfully.

In this episode of Driven by DCKAP, Karthik Chidambaram, Founder & CEO of DCKAP, speaks with Hank Josephs and his two sons, Daniel Josephs and Michael Josephs - respectively the President, CEO and CFO of Spruce Industries. They discuss the challenges and advantages of running a family business, what to do and what not to do, including how to successfully navigate the difficult roads, the importance of keeping open communication, and the best way to steer the company into the future.