Roles & Relationships
Family is all about relationships. Business is, too. Partner, boss, mentor, assistant, colleague… and, of course, customers. When family members work together, however, the roles they have in one setting can be quite different than the roles they have in the other. This mixing of relationships is one of the reasons why managing a family business can be such a delicate art. It’s a balance of emotion and objectivity, of personal and business, of unconditional love and workplace performance. We already know that relationships take work. That’s especially true in relationships that do double duty in the family and in the workplace.
These articles provide information on the ways family members can work together in businesses, balance the demands of business and family, and create a happier, healthier family dynamic.
You look forward to the day when you can hand over the reins of the family business to the next generation and enjoy retirement. Or do you?
In today’s economic climate, there are four different generations working together—Veterans, Baby Boomers, Generation X and Y, and
Millennials. Each of these generations grew up in a different time with very different values and communication styles. As members from each of these
generations come together to run a family business, they need to continuously improve their internal communication in order to avoid interpersonal
The family business is a complex entity made up of three distinct and interrelated parts. This article describes the complexities of this unique dynamic.
When a family comes together to create a business, they must be careful not to let that business take over their lives. This article emphasizes the importance of maintaining a balance between work and family.
In family businesses, emotional family bonds can affect business decisions such as those that affect the ascension of the junior members of the family in the business. This article describes the associated pitfalls and how to avoid them.
Communicating is not as simple as talking and listening. It’s about doing those things intentionally and strategically. Read this article to learn more about effective family business communication.
by Leslie Dashew
Under most circumstances, young people have significant challenges figuring out who they are and what they want to do when they grow up. When you add the complexity of growing up with a family business lurking around you, it creates even more pressures and dilemmas. This article explores these issues and some of the guidance which can be given to families in business to assist in the career exploration process.