Conflict within any business can be troublesome, but in a family-run business, conflict can be downright crippling. On the other hand, healthy relationships in a family-run business can lead to greater long-term success. So, what differentiates family businesses that operate peacefully and without major conflict from those that run into conflict regularly? Having an effective […]
Family Business Relationships
Perspectives on family business relationships, how different members within a family-owned business interact with one another and tips for successful communication.
Simply put, a team is “a group of people working towards a common goal.” “A family-owned business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.” (INC.) Therefore, Family Business Team Building is a process that enables a […]
We just completed another Fundamentals of Family Business Success program with a family group this week…it’s so great to see families expand their business tool kit and have some real conversations about the family dynamics that can destroy a good business. As the coach, I provide real time live coaching to teach the family how […]
It’s difficult to combine business and personal issues but a family business patriarch or matriarch is forced to deal with both at the same time. This presents a family business challenge when the family leader is pressured to perform according to the expectations of his family. He can be pressured to make decisions that are […]
Working in a family business is by nature interdependent. It is the result of multiple interactions between multiple family members every day. Each family member has a vested interest in the success of your organization and your products and services. This situation alone is one of the challenges of family business. Family members come in […]