Episode 8: In A ‘Pickle’? Insights On Running A Family Business And Creating A Higher Purpose
On today’s episode of Mitten Money, William Zank has a conversation with Tim Hausbeck, current President of Hausbeck Pickles & Peppers. Founded almost 100 years ago, Hausbeck is very well known in the pickle industry, supplying many national restaurants, such as Subway and Burger King. Tim has personally been involved in the pickle industry for thirty years, and on today’s episode he shares valuable insights about being a family business owner, creating Hausbeck’s higher purpose statement, and lessons he has learned about money.
Hausbeck has been family-owned since its inception in 1923. Did you know that family businesses frequently have stronger customer loyalty, and employee turnover is typically less? But, family businesses can also have significant challenges too. Tim shares, “I am known as ‘the bridge builder’ amongst our family members. I was willing to have hard conversations with my dad and siblings about creating our company’s purpose and building value for our employees.”
Tim even elaborates about a mistake he’s made. “I’m sad to admit it, but I used to think equipment, the best equipment, was our greatest asset. That’s not true. Our people are our greatest asset. And it took me a long time to learn that.”
If you’re a member of a family business, this podcast is for you. If you’re a pickle, pepper-loving person, this podcast is also for you (say that 5 times fast). With more than 100 team members they consider extended family, Hausbeck Pickles & Peppers is blazing the way to create a valuable product and a culture that employees embrace. We’d call that a win-win situation.