Keeping it in the family. Whittaker’s and all that is good about dynasties.
When I was a lad, Dallas. the long-running TV drama, was in its prime. For those youngsters who aren’t aware of the show, it ran for well over a decade and centred around the Ewings, a wealthy Texas oil family. The Ewings were a fantastic example of all that is bad in family business dynasties. They were chock full of nepotism, scheming and back-stabbing. It’s enough to convince an individual that donating their assets before they die is the smartest thing they can do. Maybe it’s Dallas that is behind my threat to my sons that my will includes a provision to donate everything to the cats’ protection league.
But not all dynasties are bad, and I was thinking of that fact as I read the other day that Whittaker’s, New Zealand’s best (in my view) mass-market chocolate company, is doubling its production facility at its Porirua headquarters. Maybe it is the fact that I was born only a few kilometres from the home of Whittaker’s Chocolates, or maybe it was the fact that a milk chocolate Sante bar, or a Peanut Slab, was the treat of choice when I was growing up. Either way, Whittaker’s has always been a favourite of mine.
Anyway, Whittaker’s was founded in 1896 in Christchurch by J. H. Whittaker. After a 1911 shift to Wellington, the company continued to prosper, through good times and bad. Two World Wars, the demise of the founder, and successive generations of Whittaker family members later, and the business is still going.
Interestingly, in contrast with many other family dynasties where subsequent generations use the success of their forbears to live it up and waste all that had been built, the Whittaker family members obviously have some good stuff in their DNA. Maurice, the son of J.H, invented the Peanut Slab back in 1950 (thanks, Maurice, they rock!)
Roll on to the 1970s and, apart from my birth being celebrated, the Whittaker family also celebrated the fact that Andrew and Brian, grandsons of the founder, took over the business. Today that theme continues with Holly and Matt, Andrew’s children, working in the business.
I may be tempting fate to say it, but the DNA seems to have been robust and Holly and Matt have managed to continue to improve the business – new flavours, collaborations with other businesses (witness the chocolate milk collaboration with Lewis Road Creamery) and signing on some big names as brand advocates (Nigella Lawson, no less!) The dynasty continues.
It’s something I think about in the context of Cactus Outdoor, the business I’m a shareholder in. Bucking today’s trend of businesses being built to sell quickly to the highest (or any) bidder, at 28 years young, Cactus is still in its infancy in our view. Taking a leaf out of the Maori approach towards business, we see Cactus as something that will outlive us and which will be passed on down through the generations.
Which raises a challenge – how to ensure we end up not like JR Ewing and his oil-rich family, but more like whanau Whittaker, with their focus on protecting the business taonga they’ve had passed down to them and, in turn, passing on an even better legacy to the generations that come. It’s something that is even more relevant for me, as my two lads finish school and start thinking about careers. They’ve both grown up feeling a familial connection to the business, so how do we foster that while encouraging them to forge their own path? How do we open up opportunities to take up the baton, without risking the flip side of nepotism?
It’s an interesting challenge and something we’re exploring at the moment. Our kids have worked in the factory over their school holidays and, after a gap year spent teaching in England, progeny #1 is now working fulltime in the warehouse – learning the business from the ground up.
There are no easy answers, and I’m pretty sure there is a fair amount of chance in determining whether subsequent generations follow a Ewing-esque path or a Whittaker one. There’s every chance that in a generation’s time my progeny will have run the business into the ground and blown it all, as the saying goes, on wine, women and song.
Here’s hoping that doesn’t come to pass – maybe I should book them a trip to Porirua to go and visit the Whittaker clan.
Vistage Chair | Venture Capitalist | Empowering CEOs & Business Owners to Drive Growth & Leadership Development | Executive Coaching | Venture Funding | Business Strategy
4 年Ben Kepes, do you have any thoughts on why some 'dynasties' maintain their strength and go from success to success and others seem to decline (no comment on the current US president!)?
Australian Laureate Fellow and Professor of Software Engineering, Faculty of IT, Monash University
4 年Whittakers Peanut Slab - still my favourite treat!!! Remember buying them from the diary (corner store for you non-Kiwis out there...) growing up in South Auckland - they were displayed in big box and you got them served in a little paper bag to take away and munch... vs the not so environmentally friendly plastic wrap now. To quote Ben - "thanks, Maurice, they rock!" Great story about the Whittaker whanau / family too Ben Kepes - thanks!! The Dallas theme music was pretty cool too ...
GAP co-ordinator/Tour organiser and leader - adults and students
4 年Making #1 an even better person! Keep working him hard.
Knowledge Management | Organisational Effectiveness
4 年Thanks for sharing Ben. You always address interesting aspects of what it means to be a director
Venture Capital | Analyst | Finance | BioScience
4 年Ben, delightful article! Cat Protection League, I shall have to remember that one. Anyway, the point is well made. One fellow I study rather closely is Asim Quresh. Part of the reason he home schools in a particular manner is to engender a (well, in my words: joy) about learning and challenges. To my way of thinking, that is not a bad start. The words attitude and mindset seem almost worn out these days, and it is hard not to use them... but let me try. This morning my body was desperate for some exercise so I sharpened the axe and just spent two hours in mild pain chopping out a large stump. But I see it as a good pain. That -- "good pain" -- is, in a nutshell, what I think a person needs maybe more than anything to want to take up the mantle of any business. To see certain kinds of work as good pain, or even better, cool or fun or play. In the case of a family tradition and national heritage like Whittakers, deep pride and family tradition is no doubt part of the recipe. But I doubt it, alone, is enough. Start 'em young, yee-haw! ( I saw a few episodes of Dallas, too!)