NEWMORROW SESSIONS - A PodCast Series on the Future of Hospitality

The Challenges of Running a Family Business - Michael Durach, Shareholder & CEO of Develey

Apr 10, 2024

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From Doubt to Drive. Entrepreneurs Only. This week with Michael Durach, Shareholder & CEO of Develey (www.develey.com), a family-owned business for generations founded in 1845.

Develey is a typical German “Mittelstand” company with strong values and deep bound with the family. Successful as supplier for McDonalds and distributing own brands to 65 countries around the world. With 2.500 employees and 16 production sides in Europe and USA.

In this episode Michael Durach talks about the challenges of running a family business and what it really means to go “all in” with full dedication and put the company first.

Our main learnings from this conversations are:

Company First. Family always 2nd. It needs full dedication to build a successful company Create a company set up where you can say NO. Don’t make yourself depended on certain clients, product lines, countries or banks. Make sure to strengthen the right partnerships and get out of the wrong ones. Don’t make the same mistake again. Learn from the former generation. Struggles are mostly in countries where you don’t speak the language and you cannot interact directly with everyone. But actually when you look in peoples eyes you can read a lot. Give your trust first. And you will get it back. Ask yourself: Is it Killing me or just Hurting me? Consult with People to prevent you from being killed. You have the responsibility not to create chaos. Trust your gut. Take fast decisions. Be yourself. Don’t mimic somebody else.

Join us for this episode and learn how to overcome struggles & roadblocks from a real entrepreneur. .. Hit the subscribe button and hear more stories from successful entrepreneurs worldwide in hospitality, food & drinks, and related industries, as they share their inspiring journey FROM DOUBT TO DRIVE.Uncover their tools and tactics, shifts in mindset, and breakthrough moments - how they knew they were stuck and how they got out. Join our community & learn how you can move from DOUBT TO DRIVE.

© From Doubt to Drive Podcast, owned and operated by Aperitivo International B.V Recorded on 4th March via Zoom in Unterhaching, Germany (Michael Durach) – Bandarawella, Sri Lanka (Mario C. Bauer) - Hamburg (Florian Schneider),

.. Hit the subscribe button and hear more stories from successful entrepreneurs worldwide in hospitality, food & drinks, and related industries, as they share their inspiring journey FROM DOUBT TO DRIVE.Uncover their tools and tactics, shifts in mindset, and breakthrough moments - how they knew they were stuck and how they got out. Join our community & learn how you can move from DOUBT TO DRIVE.