What do Comcast, News Corp, and Cargill all have in
common? They’re all successful
corporations, and they’re all family owned businesses. Lizzio Development Group
was built on the backs of three generations of Lizzios, so we know what it
takes to make a successful family business.
Running a family business is appealing to a lot of people, but they
shouldn’t make the mistake of thinking that running a family business is
easy. If you’re interested in running a
family business, or if you run one that could use some improvement, remember to
keep these tips in mind
Don’t be afraid of
conflict
Some family businesses end up failing because family members
never felt comfortable bringing up business problems to other employees. Conflict is going to happen in any business,
and you can’t be afraid to confront problems head on. If the thought of telling your cousin that
their work has been sub-par, you shouldn’t be running a family business.
Keep work and home
separate
Telling someone with a family owned business to keep their
home and work lives separate may seem strange, but if you want to run a
successful family business you’ll need to learn to separate the two. Don’t bring work problems to family dinners,
and don’t bring up family conflicts at work.
If you can’t learn how to keep the two separate, you’ll start to feel
stressed about the wrong things at the wrong time. As long as you can leave your personal family
problems at home, you’ll be able to run a good business.
Only hire skilled
family members
This may be the most difficult rule for people to follow
since it can be hard to leave certain family members out of the business. Having a family owned business doesn’t mean
that you have to hire every single family member; you should only hire family
members you know can do the job. There’s
nothing wrong with hiring your accountant cousin to handle finances, and it’s a
wise business decision to not let your uncle with a terrible work ethic join
your company.
No comments:
Post a Comment