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 WebsiteCadence Bank X (Twitter)Cadence Bank LinkedInEC Malone Corporation’s WebsiteCornell Malone’s LinkedInRoman Malone’s LinkedInRyan Malone’s LinkedIn PwC’s 2023 US Family Business SurveyFeedback:If you have questions about the show or topics you'd like discussed in future episodes, email our producers, [email protected], [email protected], or [email protected].