Management Masterclass: Succession and Growth in Family Millwork with Dustin Giffin
On this episode of Verify In Field Podcast, Dustin Giffin shares his experience taking over a company that faced significant challenges during the 2010 recession. He talks about the importance of clear communication and conflict resolution in the workplace, as well as the need for a clear accountability chart. Giffin also discusses the significance of balancing sales and production in business, and developing a second level of leadership to ensure that the company can continue to perform well. In addition, he provides insights into the millwork industry and the importance of succession planning. Overall, Giffin shares his knowledge and experiences, offering helpful advice that can serve as a guide for listeners interested in improving their management skills and growing their business.
About Our Guest:
Dustin Giffin is a second-generation owner of a successful business that builds custom cabinetry. His father had started the business in the 1980s, and over the years, it had grown to be an 85 employee-strong company. However, growing up, Dustin had a different perspective on the industry as he felt that the business took his father away from him. Despite that, he always had a fascination for building things and enjoyed working with his hands. He started with a major in Political Science but soon realized it was not for him and switched to Business. In 2005, he surprised his father by proposing that he would work for his company during the day and attend school in Pittsburgh at night and on weekends. During this time, he worked in estimating and the shop, gaining hands-on experience along with a well-rounded education. He slowly realized that his father's business was one of 2000 other companies in the industry and decided to get involved with AWI to learn more from other people.
Listen to the Full Episode:
What You’ll Learn in Today’s Episode:
How important is it for a business to have a clear accountability chart? Could this be modified for smaller businesses or startups
What advice would Dustin Giffin give to someone who is looking to take over a family business but is hesitant to do so?
What are some ways that managers can effectively resolve conflicts between departments?
How can management teams strike a balance between focusing on sales and production, in order to maintain growth?
What role do weekly staff meetings play in creating a common goal and fostering motivation?
What are some steps that business owners can take to develop leadership among their employees?
How important is self-awareness when it comes to managing a business, and why?
Can a lack of self-awareness be addressed and improved upon, or is it a fixed trait of an individual?
How can businesses best prepare for succession planning, particularly at the high level positions?
What are some industries or sectors that could benefit from implementing the practices and strategies discussed in the podcast?
Ideas Worth Sharing:
"Providing feedback consistently over time is important for improving performance." - Dustin Giffin
"If conflicts turn into personality issues, leaders need to address the underlying behaviors and facilitate communication to bridge the gap between parties." - Dustin Giffin
"Founder-owners tend to excel in either sales or production, neglecting the other side." - Dustin Giffin
"To stay in business, companies must excel in both sales and production." - Dustin Giffin
"Succession planning is important for high-level positions in businesses to avoid an abrupt replacement." - Dustin Giffin
Resources:
Share The Love:
If you like Verify In Field: The Millwork Podcast …
Never miss an episode by subscribing via Apple Podcasts, Spotify, Stitcher, Google Podcasts, Amazon Music, or by RSS!
