Episode 11 - Five Generations Strong: Keeping a Family Business Alive ft. Lance Cheney

What does it take for a family business to survive for 150 years and five generations? In this episode, Lance Cheney joins us to share the story of his family’s fifth-generation brush manufacturing business. What began in the 1870s with his great-grandfather making brushes to clean milk bottles has evolved into a company producing highly specialized brushes for industries ranging from food and pharmaceuticals to aerospace and oil and gas; including brushes that have made it all the way to Mars. Lance shares the lessons learned across five generations: from an early family split and his own rocky start working for his father to bringing the next generation into the business. He explains why successful succession requires giving the next generation room to lead, how a business can evolve without losing its core purpose, and why strong relationships have remained central to the company for 150 years. In this episode, we explore: • How a family business survives and evolves across five generations • What an early family split taught Lance about succession • How Lance transformed a difficult start with his father into a successful partnership • Why the next generation needs room to make the business its own • How the company preserved its core purpose while continually evolving • How solving customer problems led to a different approach to pricing and growth • The story behind the brushes that made it all the way to Mars • How rapid growth exposed the need for better systems and structure • Why Lance never wanted the family business to become his children’s “destiny” • How relationships, outside perspectives, and trust help a family business endure How do you preserve a family business for the next generation without holding it back from change? Share your thoughts below. 👉 Subscribe for more conversations on family, business, succession, and beyond. Co-hosts: Gershon Morgulis & Shlomo Morgulis Guest: Lance Cheney Connect with Bloodlines & Bottomlines: LinkedIn: Bloodlines and Bottomlines Facebook: Bloodlines and Bottomlines Instagram: @bloodlines_bottomlines YouTube: @Bloodlines_Bottomlines Spotify: Bloodlines and Bottomlines Apple Podcasts: Bloodlines and Bottomlines Sponsored by Imperial Advisory: www.imperialgrp.com