We’re a family-owned small business with a history of saying we’re family oriented with all of our employees. But we’re having trouble explaining what that means to our employees and potential new hires. Thoughts of the Day: Smart companies…
We’re a two-generation company, and I find that ownership is very confusing. It feels like as long as the seniors are alive, we in the next generation will never own the company, even though we’re now doing the majority…
I am working in the family business for my parents. I don’t have any shares and just general promises that someday it will be mine. I don’t agree with what my parents are doing and think they’re making some…
How do we keep our son and daughter happy, so that they stay in the business? Thoughts of the Day: When it comes to figuring out what’s best for the family and the business, start with understanding the needs…
We’re dealing with a family member who should be retiring. Unfortunately she still owns the stock and is very controlling. We want to take the company forward, but don’t have the authority to do that. She has done some…
It’s time to turn the business over to the next generation. They’re already here; they’re doing the work. And I’m ready to play, to do other things, to lay down the responsibilities I’ve carried for so long. What do…
If we hire another salesperson, operations has to be able to deliver. People are already working hard within the constraints of their available hours – and they are worried about things they’re not getting done now. We don’t want…
Last time we did inventory was 3 years ago. Inventory is a big project. It takes a lot of time and manpower to do it. Know our counts are off, but not sure how much value we’d get from…
We have a few family members in the business, and a lot of tension. It’s important to me that we learn how to get along at work, so that we don’t tear the family apart. It seems like a…
"I want to bring my son into the business. He runs a business of his own that is related to what my business does. I am concerned that his business doesn’t make enough money to support him, and as…