Its all in how you say it…. FAMILY business or family BUSINESS

Hey Fun People !!!  

One of the issues that all family businesses deal with has a lot to do with which word you put the emphasis on: family or business. We must remember that we are dealing with two of the most important demands in our lives: Families and business.

Those who view it as a “family business” put their family relationships before the best interests of the business. Often they employ many family members because of a sense of loyalty or expectation. Family members assume they are “entitled” to work in the business and often feel that they should be part of upper management, regardless of whether they are qualified or experienced.

This can also lead to preferential treatment of family members over non-family employees, which begins to destroy trust and morale in the workplace. Non-productive relatives on the payroll can weigh the business down or, in extreme cases, even drive it under.

You can end up with an Uncle Joe on your payroll who rolls into work late, leaves early, and is otherwise found on the golf course. Handling him can be tricky, especially since the Thanksgiving family dinner is always at Uncle Joe and Aunt Mary’s home. If anyone dares to bring it up, doors will slam and the turkey stands a good chance of flying through the air.

Those who view it as a “family business” see the business as a entity separate from the family. The success of the business is primary over the family relationships within that business. Family members are hired only for jobs where their experience or qualifications match the position. This can cause hard feelings, but it’s far better than having to fire non-producing family members or, in the worst case, kill the business.

So how do you change the way a family sees its business? The best advice is to help the family understand, from the moment the business is launched, that there are no entitlements or special treatment for family members. All family-related business issues must be treated the same as if they were a non-family issue. There is no child too young to learn that work is rewarded and that a family business requires lots of it, but that there is a great future for those who succeed. It’s establishing a work ethic that will carry your family members through for the rest of their lives. Children will also learn that with the proper education and development of skills they will have an opportunity to be part of the family business at the level of their competence.

It is also important for family members to be aware of the areas in which they need professional development and to make every effort to attend skill-set training relating to employee management, leadership, communications, basic human resources, customer service, and a myriad of other primary skills.

Family members who are employees must understand that everything they say and do will be watched by all the other employees. They need to support the business’s policies and decisions. They are seen as representatives of the business, both inside the company and in the eyes of the public.

So, if you own a family business, or work in one, ask yourself which word you emphasize when you think about your business. Is it a family business or a family business?

Dont forget to visit us a www.familybusinesscc.com  

Till next time… have a great day and a profitable week  

Rich