She wanted to join the family business. She just needed the courage

The opportunity to continue the family business as the next generation is an amazing opportunity. Especially when there are good relationships within the family and open communication is the norm. However, succession is not as straightforward as it might seem at first glance. Even Kristýna Schönová from the family business—the advertising agency EuroAgency—was unsure which of her talents to develop in her career. “The conscious decision came during my studies at the Faculty of Business Administration at the University of Economics,” she describes in the interview. Kristýna is a graduate of the Faculty of Business Administration at the Prague University of Economics and Business (FPH VŠE) and is still connected to the school through her membership in the Honors Academia program and the VŠE Family Business Club—a club for successors in family businesses from among VŠE students and graduates.

Kristýna, did you ever think about not working in your family business, EuroAgency?

Not really. On a subconscious level, it was in me from an early age. When my sister and I played, I played office because we spent hours and hours here at the company with our parents. We even had our own play corner here. During my studies at the Faculty of Business Administration, I started to get more involved and made a conscious decision that “I will work in our family business and it’s the right thing for me.” Actually, that decision came when I was attanding Martin Jurek’s Strategy in Family Businesses course. It dawned on me that it made perfect sense, and suddenly everything was clear to me.

What positions did you start in at your family business?

I started as a driver transporting things from place to place, then for a while I wrapped Christmas packages for clients, and then 3–4 years ago, when I finished my studies, I jumped into the position of Account Manager. I also visited particular departments on an ongoing basis, observing and learning about both the agency and Mountfield, where we are also involved as a family.

Did you try working outside the family business, at least as an intern?

Definitely. Through my studies, I did internships at Nestlé and Albert, and from the age of 15, I mainly had part-time jobs outside the family business. This was so that I could find out if I would enjoy doing something else. Well, and also to understand marketing from a different perspective; I think that experience from outside is important.

So in the end, the family business won out?

Exactly, I tried it, but I realized it wasn’t for me. And that I feel most at home here in the family business. You know you haven’t missed out on anything, you made the right decision, and you have no doubts.

What position do you hold at EuroAgency now?

I’m in management and, as of this year, I’m also officially the company’s managing director. The original idea was that I would also be an Account Manager. I really enjoy taking care of clients, but at the same time, it didn’t go well with the management position. Now I’m in contact with clients, but we have skilled people for whom this is their main job.

It also seems to me that you are lucky to have a great relationship with your parents. How did you broach the subject of succession?

I think we are very lucky that both sides are really trying to make it work. It probably happened gradually. By learning about family businesses as a subject at school, I got to know their stories, saw various case studies, understood how to work within decision-making processes, and so on. This was the first step for me in realizing that we are a team as a family. That it’s not me against my parents and vice versa. Thanks to this mindset, we pull together and communicate openly and objectively. This is a huge plus for us. We also have a lot of common interests. Since we were little, we’ve enjoyed going on vacation together and spending time together.

Do you keep work and family topics separate?

Absolutely not. Business is an everyday topic in our family. Since we all enjoy it, we don’t mind discussing it. Fortunately, my partner also enjoys it quite a bit and likes to be involved in some of the discussions. Many of our hobbies are also connected to our business, so we actually talk about our hobbies.

Do you have any regular family meetings? For example, a family council?

No. We had a vision to introduce something more regular, but so far it hasn’t worked out. My younger sister has finished her studies and is doing an internship, and because we want her to be involved and have a basic understanding of the state of the company, we are unable to coordinate all our calendars. But I think we make up for it with the time we spend together. Every week, we all meet and talk.

Your younger sister is a veterinarian. Does she have the opportunity to get involved in the family business?

Our hobbies include caring for animals and the forest. We are a family of hunters, so at least in that sense, veterinary medicine fits in with us. And she definitely has the opportunity to get involved in the business. My sister is still gaining experience so she can decide what specialization she would like to pursue within her field. We’ll see what she decides. Our parents never pushed us into anything, which I think is a great approach.

How did your studies at FPH VŠE help you in your current position in the family business?

What I appreciated most about FPH was the insight into all areas of business. From accounting to logistics to product design. For someone who wants to start a business or find a direction to take in a company, FPH is perfect. You figure out what you enjoy doing. It gave me a lot in that regard. Then, during my master’s studies, I discovered the Centre for Family Business, Martin Jurek and Jirka Hnilica, the VŠE Family Business Club, and I realized that family businesses are a separate, specific topic. The VŠE Family Business Club is a huge help to people from entrepreneurial families. We all have different family backgrounds, but we all have that company as our sibling, and that’s what connects us. We can talk about it nicely, give each other good recommendations, or even examples of how we definitely don’t want to do things.

When you meet with members of the VŠE Family Business Club, is family business still the first thing you talk about?

Yes. We tell ourselves that we already know everything about each other, so maybe we don’t talk much about “life in a family business” anymore, but the first thing we do is talk about what’s new in the company and how our parents are doing. I don’t think I discuss this with anyone else. Within the club, we understand each other very well, which is great, and I am very grateful for that.

Does it make sense for you to attend VŠE Family Business Club meetings even though you have already completed your studies and are the managing director of a company?

100%. I always look forward to these events. There are people in their fifties and twenties among us who still don’t really know if they want to join the family business or if they are even part of the family business. It’s an interesting cross-section of the next generation.

Are there any changes coming up at the company in the near future? For example, are your parents thinking about stepping back from the company and giving you more management responsibilities?

I’m really happy that my parents and I are working together here at the moment. I enjoy working with them immensely. Their experience is invaluable, especially in services, which is what marketing is. So I’m not going anywhere, and I hope they aren’t either. I see us now as a family business where we all work together, and replacing the first generation with the second as soon as possible is definitely not the goal.

And what are your current work challenges?

We are launching an in-house online marketing department. We were missing that, so we started it, and now it’s up to me to see it through. My next challenge is to strengthen the company’s staffing.

Kristý, it sounds like you’re very happy now. A few years ago, you mentioned that you were addressing some issues related to family business as part of the Faculty of Business Administration mentoring program. Could you elaborate on that?

It was difficult for me to coordinate all my activities so that I didn’t have too many projects running at once. That was largely resolved by the conscious decision to go down the family business route. With my mentor Robert Faltus, who worked in a family business, I also addressed some of my fears about my new role in our company. I like it when everything goes well and I am 100% confident in my abilities. My mentor helped me with my perception of my role in the family business at that time. I would call it gathering courage.