The Family that Works Together
The Family that Works Together
The Family that Works Together
We enjoy working togetherwhat if we also want to enjoy Thanksgiving dinner together?
Working with family can be a blessing and a curse. While there is nothing more rewarding than coming to work every day and spending time with those that you love, working with family can also be challenging if not frustrating.
Your business is not worth the loss of family harmony or a joyful Thanksgiving Dinner
Children who choose work in the family business cannot expect to have a red carpet laid out for them when they come to work. Rather, they need to be prepared to come in earlier, stay later, and even work harder than non-family members. Why? It is the family business, which means that they are just as responsible for its reputation and success as any other family member in the firm.
What are some of the best ways to assure harmony when running a family business?
Develop your children's values and capabilities from a young age.
Have a family mission statement.
Instill both a competitive and service ethic and culture in the business.
Impart the culture of the business to family members who do not work in the company.
Build a team of owners comprised of family members.
Have a written participation policy that explicitly covers all roles and responsibilities of a family member who wants work in the business.
Retain key "non-family" employees in the business.
Compensate equitably based on the basis of what the job is worth, not on a surname.
Have written rules for resolving conflict.
As a family, give back to the community and your industry.
Avoid displays of wealth at work (e.g., leave the expensive car at home).
While many children actually grow up in the business and are capable, contributing employees, other children may feel that they are "entitled without earning" simply because they share your family name. It is important that family members understand the concept of stewardship, and that those who work in the business demonstrate that concept on the job. They also must be able to separate business issues from family issues.
We always suggest that before entering the business, the child of a business owner should work somewhere else first. This helps the adult child learning how to separate family interests from business interests. We also recommend that the child take outside business and management classes that will allow them to bring added value to the business.
What could prevent a harmonious Thanksgiving dinner for members of a family with a business? Role ambiguity in the business. Family politics. Power struggles. Conflicts of interests. Sibling rivalry.
If you manage your business effectively, you can avoid these and have the experience that other families have at Thanksgiving. At the very worst, you would have the normal relationship problems that crop up in any family at holiday time!
The Call Of Duty Family Tree Cornhole for Your Next Family Function Organization And Declutter Tips For Storage In The Family Room Cheap Luxury Holidays For You And Your Family Disney for the family Villa Rentals in Menorca For Your Family Holiday Watch Boardwalk Empire Season 1 Episode 6-Family Limitation Rewards of Tailoring Beside My Family Can I deny visitation for failure to pay child support? Rhode Island Family Law Issue Family History Research - Get Talking Before Going On-line Obtaining to Recognize the Family Roots Your Family History and Royal Descent Introduction to Family History Software