Coach Pete discusses family business relationships.
Communication is the oxygen of a family business. Relationships are like the heart of the family business. When the heart is strong, we can maneuver and handle the “tough stuff” and challenges that are coming at us from competitors in the market. When the relationships in the business are not strong, its difficult to deal with hardships.
Coach Pete has defined three areas of relationships that are critical for family business success. The first of these is to show genuine respect, care and concern for one another, even during the toughest struggles.
The second is to be able to have a healthy relationship outside of the business. As a family unit, it is important to spend time nurturing these relationships outside of work. Spending time together as a family instead of a business at times can help maintain a strong sense of camaraderie during business hours.
The third is to be able to be open and honest with each other when discussing the tough issues. In any relationship, business or otherwise, it is important to be able to support each other during good times and bad.
Relationships take practice. Remember to lean on Coach Pete for support and answers, and as always, play to your potential!