Better numbers and a closer family. Kris Kluver, in The Dysfunctional Family Office, returns to Mitchell Industries one year after the family transition retreat. Revenue went from $82 million to $109 million, a 25 percent jump. EBITDA improved 28 percent. Employee turnover dropped from 29 percent to 19 percent, industry-leading. Net new client acquisitions went from negative three to seven major new accounts. The family was tighter than it had been in twenty years. Robert and Joanne were back from a month in Italy. Steve was running expanded markets. Tim was building a veterinary roll-up with family backing. Gail was running the company. The pattern is consistent across UHNW families that do this work. The numbers improve when the relational work improves. Both shifts happen together because they were always linked.
What does a family business actually look like a year after they do this work?
From: Ch 16: Thriving
Also asked
- year over year family business turnaround
- results of family business retreat
- show me what happens to the numbers after a family does this kind of work