Taking Over a 2nd Generation Business | 23

Felicia Harris, CEO of EverythingHR and EverythingHR Financial Services interviews Katie Balash, President of Vaughan Industries, a company that has been supplying carwash supplies for over 40 years. Katie Balash opens up about her personal experiences when she took over the family business when she initially wasn’t interested, what the responsibilities, learning curves, and transitional periods were like, and valuable advice for others looking to take over or pass on a family business.

Episode Highlights:

• How did the succession plan get executed for Vaughan Industries?
• Katie discusses the responsibilities of entrepreneurs for their employees.
•  How did Katie evolve Vaughan Industries after taking it over? 
• What types of additional training did Katie Balash receive? 
•  What are some things Katie would recommend to second generation business owners?
• How did Katie’s transition go between the family and the business?
•  How do you fire somebody?
• What was Katie’s decision process like when she had apprehension about taking over Vaughan Industries?
• Being part of a multi-generational business is about being part of a legacy.
• What was it like for Katie being a female in a male-dominated industry
• You can never stop learning and finding alliances. 

Resources:
support@everythinghrfs.net
Email questions about EverythingHR: Support@EverythingHRFS.net
Katie Balash: Linkedin
Website: vaughanind.com
EverythingHR
Felicia G. Harris on Twitter