family business Archives

Navigating Family Dynamics in Business: Tips for Positive Relationships and Effective Decision-Making

Family-owned businesses are a unique breed. With the mix of family dynamics and business operations, there are often challenges that are not present in non-family-owned businesses. Ensuring decisions benefit the company, not just individual family members, is a significant challenge...

Human Resources

Family Owned Business: Set Company Culture

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 pay...

spouse as employee the family business in the family

Leadership

Family business: Should I stay or should I go?

My parents run the family business and I'm working for them. With only general promises that someday it will be mine, I don’t have any shares. I don’t agree with what my parents are doing and think they’re making some...

Leadership

Keeping the family-owned business in the family

How do we keep the family-owned business in the family? More specifically, how do we keep our son and daughter happy, so that they stay in the business? Thoughts of the Day: Figure out what’s best for the family-owned business....

Leadership

Family Business Succession Plans

Facing family business succession, we need a plan. 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...

Family Owned Business: Set Company Culture

Leadership

Set Standards for Family Business Success

Ask Andi: Our family business success has a lot of tension. We need to learn to work together so that we don’t tear the family apart. Disagreement happens when it’s not clear who is in charge. Or what is or...

Leadership

Working with a Spouse

Ask Andi: Working with a spouse? It's a family business, all right. My spouse is in the thick of it with me, pitching in wherever help is needed. She has good advice, but sometimes we don't see eye to eye....

Leadership

The Ups and Downs of Managing a Family Business

My wife, my children and I own a business together. My wife and I started the business, and we're delighted our children chose to join us. Unfortunately we don't always see eye to eye about things. Any suggestions you have...

Leadership

Bringing family into the business has its risks

"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...

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