Lessons From a Family Business 5 Generations Strong

Family business strengthens a family."
No family business owner has more credibility to say that than John V. Evans, Jr., chief executive officer of D.L. Evans Bank. His great-grandfather started the bank in 1904. John hired his dad and next door neighbor, former Idaho Governor John V. Evans, Sr. They worked together for 26 years until a hip replacement made it difficult to continue. He and his three sons are fourth and fifth generation bankers. Today, the Evans bank is Idaho's largest community bank. It survived the Great Depression and all of the economic downturns since. Though Evans family has defied the odds by keeping the business thriving for five generations, John is a humble man who struck me as compassionate about his own family, his
banking family and Idaho. Here are some key lessons he shared on how to become a successful business family.

Start your children early.

His three sons, John III, Jim and Richard, grew up in the family bank. John taught them early that hard work and dedication make a family bank successful. Each son had to sweep the parking lot and pull weeds. They collected trash and were promoted to bank tellers during their junior high and high school years.

John warns family businesses to be careful how their children advance in the company. Hiring your children and grandchildren is one of the greatest rewards of owning a family business but you don't want your employees to think that your children are advancing because of their status. His children had to prove themselves and work twice as hard.

Prepare your relationships for business growth.

John and Karen Evans have been married for 43 years. She worked with  him for 10 years, first as a teller and later as a customer representative before eventually leaving the banking business.
John explained that one of the main problems with family business is that it's difficult to stop working. The work spills over into family life at home and that can strain the relationship. John thinks that smaller ventures may not be as difficult to manage. Business growth demands that you work together, all of the time, and that doesn't work for all couples.
Karen continues to play an important role in his success by managing the home, attending functions and motivating him when times get tough.

Read more about this family business

Prepare your relationships for business growth.

John and Karen Evans have been married for 43 years. She worked with  him for 10 years, first as a teller and later as a customer representative before eventually leaving the banking business.
John explained that one of the main problems with family business is that it's difficult to stop working. The work spills over into family life at home and that can strain the relationship. John thinks that smaller ventures may not be as difficult to manage. Business growth demands that you work together, all of the time, and that doesn't work for all couples.
Karen continues to play an important role in his success by managing the home, attending functions and motivating him when times get tough.