Quick Printing is the resource for the Commercial printing, visual and graphic arts industries. Since 1977, Quick Printing has focused on improving efficiency and increasing sales and profits in the print shop. Industry experts share their ideas and
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Case Study MyPRINTResource.com Quick Printing | January 2015 27 Tom Crouser is senior contributing editor, chairman of CPrint International, and principal of Crouser & Associates, Inc. You can reach him at 304/541-3714, connect on Facebook and LinkedIn and follow his business tweets on Twitter @tomcrouser . Real Work and the Executive Track for Successor O nce the educational component beyond high school is attained (see last month's column) or maybe while it is ongoing, the successor should get a job with a business outside of your control. He or she should work there for a minimum of three years or until they receive their frst promotion, which- ever is longer. If they change jobs without a promotion, the clock should start over with another three-year tour. Ideally, the job will be with a larger company within the industry, but it doesn't have to be. For extra credit, the company should be known for its employee training. This work component is done for two reasons. First, you, as prede- cessor, will appear more reasonable to them as you require that they do their job while working in the family business. Second, the successor will come into the business with a work portfolio. Other workers will look upon them as having value in their own right. They won't just be the "owner's kid". Once the external work compo- nent of the Executive Track is met, then you and the successor may choose for them to work within the family business. Next, your business must be ready to compete with the other opportunities they have for work. This means a competitive salary, an adult working environment, and the mean that the predecessor abdicates their oversight responsibilities; rather it means they are delegated. The predecessor is still responsible for the business and that includes train- ing the successor. As the succcessor masters various functions, increase their responsibilities and rewards. What would be a logical progres- sion? Start them at the bottom doing delivery and bindery, then perhaps customer service where they learn pricing and entering jobs. Next they could move into major functions such as digital output and prepress, then up to the position of production man- agement. The amount of time spent in each position depends on what they know. But in no case should they be moved to another position without mastering the frst. From there move them into outside sales where they are charged with developing customers and creating demand for existing capacity. Here they may (should) receive addition- al outside training as well as sales management when appropriate. When they have accomplished the basics of sales management they could focus, in their spare time, on the fnance area of your busi- ness. They don't have to work as a bookkeeper but they should know and demonstrate the tasks as well as how to read and analyze fnancial statements and participate in major fnance decisions. Now, they are prepared. They have completed the High School Track, ob- tained formal education, gained work experience outside the business, learned the family's business from the ground up, earned the respect of co-workers, and have a good grasp on all the major functions. Some of us still have one more thing to do, and that is to select the successor among the potentials. We'll pick up on this in the next installment. Your potential successor should get a job with a business outside of your control, and they should work there for a minimum of three years or until they receive a promotion—whichever is longer. By Tom Crouser potential for a job with real authori- ty and responsibility. Sometimes successors are edu- cated (priced) out of our business. If they have become brain surgeons or engineers, it probably is illogical they then take over the family's printing business. You may budget for someone on the Executive Track beyond the normal pay for the pre- cise position that they occupy while training. However, always base their pay on what they are "worth," not what they "need." In a business of $50,000 jobs, don't pay them $100,000. If they can earn $100,000 doing something else, they should do that. Once the successor is in the busi- ness, frst assign a series of "learning tasks." Start with the most basic jobs. Make sure they can do that before you move them to the next job. They must learn the "work of the work;" otherwise they will always be hostage to others. You may pay a successor on the Executive Track a salary that is higher than what called for by the basic function assigned. You would do this for any successor you hoped to attract. However, a successor on the Executive Track who fails along the way should be terminated or moved to a needed function and paid accordingly. The successor should report, when- ever possible, to someone who is not a family member. That does not