Kate Stranberg is a Partner with Stranberg Resource Group and the first 2nd generation family member to join the family business. Kate recently celebrated her ten-year anniversary with the company and we took the opportunity to ask her about the experience as a part of our “Becoming a Family Business” Series.
Below Kate reflects on her decision to leave corporate america, and the lessons and advice she's learned over the first 10 years working with family.
You had a great career outside the family business and joining SRG was never on your radar. What led you to the decision to join the company?
When I started my career, I was extremely money-driven. I went to college to be an Investment Banker, because it would make me the most money in the shortest time. However, interviewing with the big banks was such a demeaning, horrible experience that the money instantly became less important. Before my career even started, my goals had already drastically shifted; it became less about money and more about life and people.
I think my decision to join SRG is unique because it came about while I was considering two very different opportunities, one to join Ann Taylor’s Logistics team in Louisville, the other to return to consulting with Accenture in Australia. They were both very attractive to me and it was not an easy or fast decision. As I thought through it over multiple months, the idea of moving home to join the family business naturally became a 3rd, and increasingly appealing option. The one thing I remember clearly is thinking, “if I join the family business, it’s forever; no going back, no changing my mind; I can’t do that to my parents.” So, I really had to convince myself that I was ready to leave big company life. Even through this period of deep thought and reflection, neither of my parents made the argument for the family business – they wanted whatever I thought was best for me.
Yet, it was a conversation with my dad, Jim, that ultimately made the decision clear. He, with both children showing no interest in the business, was thinking about the future– how long he would continue to work and whether to sell or let it fade away. After that, there was no question – I was proud of the business my parents built and didn’t want it to simply fade away.
You have described your father, Jim, as a role model and a tremendous resource for you throughout your career. What are some things you have learned from him that you hope to carry on in the family business in the future.
My Dad has always been the voice of reason and a natural mentor for me. I would call him before and after every interview - he never told me what to do or how to act but provided advice and asked questions that allowed me to figure it out for myself. This not only helped develop my critical thinking skills but also built my confidence and helped me stay focused on my goals and the future.
He’d tell me “Remember, it is best to have multiple good options to consider" and "a good interview is not a job offer.”
As a young professional, I was driven and impatient, and my dad’s ability to clear the clutter in my head had a huge impact on me. He advised me to start a journal and write down my thoughts and feelings - to reflect on what I really wanted and why I was considering different decisions. These are lessons that have stuck with me – if I am feeling frustrated with work, life, relationships, I step back to reflect. My tools for doing this are different than his, my moms and my brothers – I walk, ride horses, and journal – activities that help me refocus, see more clearly and make better decisions.
Your parents never pushed you into joining the business. Can you expand on that experience?
As children, we watched as our parents started the business from our basement - we saw the stress, fears and sacrifices – as well as those first wins and the ecstatic relief that came with it. I think we both understood that having a business that our parents built is an incredible privilege but that we could create our own paths. They put a high value on "real life" experiences – not just career experiences. My mom in particular has always been an advocate for grabbing life by the horns and doing the things that are uncomfortable. She is the reason our family business exists; she had the experience to know they would be happier if they struck out on their own and the confidence in my Dad to make it work. And that they did. But they could not have done it without each other and their combination of life experiences.
One of my favorite stories, early in my career I actively sought out an interview with one of the biggest executive search firms in the world – thinking that I MIGHT want to join the family business one day and it would be good to gain experience at a big firm. My first interview went well, so I called my Dad to talk and, instead of supporting or opposing the idea, he told me to talk to some of his friends and ex-colleagues in the industry to see what advice they had for me.
He stayed neutral while giving me tools to guide me toward my own decision. I really respect the way he handled that. And, I believe I made the right decision in waiting.