Managing the Family Business
If you own or are a part of a family-owned business, then you know how downright complicated it can get. The best business owners can keep their personal and business life separate, but it gets tricky when the two are inherently connected. If you’re looking for the best business articles specifically for family-owned businesses, then go straight to Harvard Business Review’s two-part series called Managing the Family Business. Keys to Family Business Success: 1. Set some boundaries. It’s easy for family members involved in a business to talk shop 24/7. But mixing business, personal and home life will eventually produce a volatile brew. Limit business discussions outside of the office. That’s not always possible, but at least save them for an appropriate time — not at a family wedding for example. 2. Establish clear and regular methods of communication. Problems and differences of opinion are inevitable. Maybe you see them already. Consider weekly meeti...