Openness and transparency are key when bringing a difficult message
Break It and Make It – with Ben and Sarah Spaas, CEO and Sales Manager of family-owned business Spaas Candles
Although each company is different, entrepreneurs all face similar challenges. Sharing knowledge and learning from each other’s highs and lows can be a valuable source of inspiration and energy. Across its 30 years of existence, the Impulse Centre ‘Growth Management for Medium-Sized Enterprises’ (iGMO) has united over 400 owner-managers and owners of family businesses. The annual highlight for its members is the iGMO Summit, a two-day event that combines keynote speeches, workshops and networking.
Amongst the 120 entrepreneurs attending the event were siblings Ben and Sarah Spaas. Ben is the CEO of Spaas Candles, and Sarah’s responsible for sales management in the Benelux.
Being the fifth generation of this family-owned business, Spaas has been producing and distributing candles for 170 years across 40 countries. “In this world of bits and bytes, we hope that our candles and flames can contribute to connecting people and creating a warmer, more respectful society overall,” says Sarah. We asked them to share their slip-ups and learnings as seasoned entrepreneurs.
Openness and transparency are key when bringing a difficult message
Ben and Sarah Spaas - CEO and Sales Manager of Spaas Candles - share mistakes they've made – and valuable lessons they've learned – in their entrepreneurship journey.
What’s the main added value of the iGMO membership and network?
Ben Spaas: “I think I speak for both of us if I say that the learning aspect is key to our iGMO membership. And there are two elements to that. On the one hand, we have access to academic research and insights from Vlerick professors. And we get to attend lectures from national and international speakers.”
Sarah Spaas adds: “Apart from expert knowledge, we also get to tap into the experience of other members leading family-owned businesses. We’re all confronted with the same challenges, problems and opportunities, and the networking aspect of iGMO allows us to interact with other entrepreneurs. Through these informal discussions, we can all learn from each other.”
What is the biggest failure you made as an entrepreneur – and what did you learn from it?
Ben: “Some 15 years ago, we closed down a particular European production facility, as part of a bigger strategic plan. And that did not at all go according to plan. What I learned from that is that I should have been more open and transparent in my communication towards the people who worked there. I should have explained to them what the plan was. And I did not do that, or at least not transparent enough.”
Sarah: “For me, it’s not one particular failure, but rather something that is hard to do for a company and especially an entrepreneur. When the company is growing, and you see that people cannot attain the level that you’re trying to reach, then sometimes you need to say goodbye to them. And that is hard. Although they are really committed and did a lot of great work, they just did not meet the standards that we need for the future. The learning for me is that you don’t need to postpone this decision. You need to act in an accurate way, but always be respectful.”
Being experienced entrepreneurs, what would be your most important advice for starting entrepreneurs?
Ben: “My advice for a starting entrepreneur would be to surround yourself with good, driven and competent people.”
Sarah: “To dare to take risks but think them through. Go for it, believe in yourself and surround yourself with people who have the knowledge.”
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