Family Business

I have worked independently and with family on new ventures. I have had mixed results. I still talk to my family and did not let business come in between us, but I have seen it build a wedge and also mend relationships. Working with family can be very difficult because you can get away with more than in a typical relationship. As long as both sides work to create a stronger business it usually works well. When the two work against each other or do not separate their work enough problems start to pop up. I have bulleted some quick pieces of advice for the Entrepreneur working with family.

• Set Boundaries - make sure you know when you are working and when you are not and stick to those times.
• Separate Responsibilities - Do not hover over each other and create tension. Instead separate the work and make sure each other brings their unique skills to the projects.
• Communicate - Talk about being frustrated, or upset, and happy. Make sure everyone knows how you feel and what can be done to affect that.
• Put Family First - Making money feels great, but loosing family is not worth it. No matter what make sure your family takes precedent over the invoice.

Family businesses can be the most successful businesses because who else can you trust like your family? Make sure to talk about it early and often. Don't let lines of communication close, and always look for new ways to show appreciation and grow the business.