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Exploring the Pros and Cons of Working with Family by Susan Scotts Are you thinking of a family partnership or working with family? There are many benefits that come with family-run businesses, but with anything, it is important to consider all the details before making a choice to move forward.
can create a successful business for themselves and their families.
My old boss used to say, “A partnership is a leaky ship,” and that can be especially true if the partner is a family member. I’ve been working in franchising over 30 years now, and I’ve had the opportunity to see many partners, whether business associates, friends or families, work together. I generally have a discussion with them all together, then each person individually to help them really think it all the way through. I want to ensure everyone is on the same page so they
On the positive side, you are familiar and know your family and may get along well with them. Of course, this would work to your benefit and to be fun as well!
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Here are some things to consider when exploring self-sufficiency with family members:
It is likely that your family members also know your strengths and weaknesses, especially if you work with a family member who has strengths other than yours - that could come in really handy!
The trust factor is also a plus. Working with family often provides a higher level of trust than with employee; if you can’t trust your family, who can you trust? However, sometimes mixing business and family can be harmful. If things don’t work out, think about having to discipline or fire your own family member. That could prove to be difficult. Additionally, it could be difficult for your loved one to show you the respect you deserve and need in the workplace because of your familiarity with each other. That can invite further disrespect with others in the organization. They may even feel that the regular rules don’t apply to them
