Starting and running a business or managing one isn’t for the faint of heart. You’re balancing internal and external forces in a continually changing landscape. This is where Cadence Bank’s In Good Companies comes in. We share our wealth of knowledge–and insights from noted industry experts–to guide you through the forces shaping business today. It’s hosted by Patrick Pacheco, an EVP and President of Cadence Asset Management and Trust, who has more than 25 years’ experience and is a self-proclaimed lifelong learner. He leads discussions with business owners and subject matter experts about how they’re tackling business challenges like: ● What are ways to grow my business without growing my debt? ● How can I turn my data into meaningful information? ● Why is company culture more important than ever? It’s information you need, in one place, in under 30 minutes. More than 250,000 listeners tune in each week...
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episode 4: It Runs in the Family: Expanding Business from Generation to Generation, with E.C. Malone Corporation
In 2023, 87% of companies in the U.S. were family-owned; across the labor market, they employ more than half of the population. So on this new episode of In Good Companies, we find out what it takes to grow your business as a family, and pass down craftsmanship from generation to generation. Who better to answer these questions than Cornell, Roman and Ryan Malone?
The Malones are a family united by their love for business. Together, Cornell and his two sons run EC Malone Corporation, also known as Malone Roofing; a company providing full roofing services, maintenance work, and wall paneling across the South.
In today’s episode, we find out how a one-man operation became a multi-state business making millions in revenue. We look back on Cornell’s early beginnings in Hattiesburg, Mississippi, and learn how he passed on his vocation for roofing to Roman and Ryan. We also discuss the challenges brought by fast expansion; from process-building, to technology adaptation and company culture.
Tune in with the Malones to dive into a family’s story of success and succession.
Highlights:
- Roofing: a Malone family tradition (2:50)
- The early days of EC Malone Corporation (4:49)
- Ryan’s first steps into the family business (07:01)
- When and how Roman got on board (8:21)
- New ideas from a new generation (9:50)
- From the tar to the sales side (11:20)
- Technology and innovation at EC Malone today (12:32)
- When change strikes fast: hurricanes Ivan and Katrina (14:00)
- The importance of growing your processes (15:25)
- How to expand your business culture (17:24)
- Enhancing client communication (19:32)
- Making roofing aspirational (21:49)
- The future of Malone Roofing (23:59)
- Growth happens at every stage (27:20)
Links:
- Cadence Bank Website
- Cadence Bank X (Twitter)
- Cadence Bank LinkedIn
- EC Malone Corporation’s Website
- Cornell Malone’s LinkedIn
- Roman Malone’s LinkedIn
- Ryan Malone’s LinkedIn
PwC’s 2023 US Family Business Survey
Feedback:
If you have questions about the show or topics you'd like discussed in future episodes, email our producers, Natalie.Barron@cadencebank.com, Eydie.Pengelly@cadencebank.com, or danielle.kernell@cadencebank.com.