69: Perfect Bar Founders On Overcoming Debt To Run A Thriving Family Business, The Future Of Snacking, And Eating Sugar Healthily

Family Roles

In the Keith family business, defining roles and responsibilities was crucial from the start. Bill Keith emphasizes the importance of setting clear expectations to avoid conflicts, a lesson learned early on as they navigated the challenges of working with siblings 1. Leigh Keith adds that despite the inevitable sibling disagreements, their focus has always been on what's best for Perfect Bar, which ultimately benefits the family 1.

We really tried to move forward and grow up and be professional, but it didn't come without the awkward turkey time at mom's house.

--- Leigh Keith

Bill also set a standard that family ties do not guarantee special privileges, ensuring that the company's mission remains the priority 2.

   

Growth Challenges

Managing growth in a family business presents unique challenges, especially when integrating external partners. Leigh Keith describes the emotional journey of bringing in private equity and the responsibility that comes with it 3. She stresses the importance of aligning with investors who share the company's values and mission 3.

Once you have a value put on your company, you inject capital into it. You are responsible to your shareholders.

--- Leigh Keith

Leigh also highlights their commitment to a triple bottom line approach, focusing on people, planet, and profits, which guides their growth strategy and community engagement efforts 4.