“There is no bigger compliment than when one of our team members brings one of their family members — or a close friend — into the business.” Brad Wasserstrom, President, Wasserstrom
Family to Family
Columbus, Ohio
When Brad Wasserstrom left home for college, his father, a third-generation leader in an equipment dealer enterprise doing business for more than a century, offered some valuable guidance: “Having a family business means you will always have a job. But the job you have is up to you.” Today, that job is president of Wasserstrom, a leadership role he shares with his cousin Eric Wasserstrom, who heads up N. Wasserstrom. Brad Wasserstrom oversees the part of the company that handles functions that include national account smallwares distribution and traditional dealer functions like street and regional sales, as well as retail. Eric Wasserstrom is responsible for the heavy equipment distribution and all engineered solutions for national accounts.
These fourth-generation leaders first joined the family business after graduating from college and testing the waters elsewhere. “We wanted to be independent,” reminisces Eric Wasserstrom. But they both landed at Wasserstrom’s Phoenix facility within two weeks of one another. Eric started in sales; Brad gravitated to operations. Within a few years of working together (and even living together for a time), they both moved to the company’s hometown of Columbus, Ohio, and eventually were named to top leadership positions and given a seat at a very small family table: the umbrella family holding company with just four other family members, all part of the third generation.
There is enough independence in this co-leadership model that conflict is rare. “We each have our own businesses to run,” explains Brad Wasserstrom, noting a few crossover areas that require joint decision-making, such as IT and employee benefits. “We rarely disagree on the big things.”
“We keep our focus on always doing what’s right for the business, full stop. As long as we do that, the business will be fine.” Eric Wasserstrom, President, N. WasserstromThe cousins demonstrate an easy-going dynamic, ribbing one another affectionately while crediting the ties that bind. “We’ve been working together since 1993. We’re a year apart in age. We have the same pop culture references. We live in the same town. We are both girl dads,” notes Brad Wasserstrom.
“If one of us were miserable working with each other or the family, we wouldn’t be here,” agrees Eric Wasserstrom. “You know how some say it’s lonely at the top? It’s not as lonely for Brad and me. We can call each other and vent, exchange ideas and share that security blanket.”
Brad Wasserstrom goes on to tout the impact of the larger family network: “We have our own built-in network. We can call either of our fathers, our uncles and make better decisions with their advice.”
Once again, Eric Wasserstrom is in full agreement: “I can’t say enough about how much we appreciate our dads. They’ve done such a great job being available and not micromanaging. I wouldn’t trade working side by side with my dad for 25 years for anything. How many people can say that?”
Will Wasserstrom be able to keep it all in the family into a fifth generation of leadership? The succession crystal ball is a bit cloudy. The Wasserstrom presidents are the oldest members of their generation, with the youngest of five other cousins not yet 40. Meanwhile, their children, representing the fifth generation, are all too young to be contemplating career paths.
Fortunately, neither Wasserstrom president is feeling itchy about retirement. “We’re in a sweet spot,” says Brad Wasserstrom. “We’re old enough to really understand the business, but we still have runway left. We have the energy and desire.”
