After all these years of exploring the dynamics of families and business, what I’ve learned in family business is that most of it is grounded in sound parenting. The task of parenting is to raise responsible adults who have high self-esteem and who can function independently. In return, acceptance in the family is unconditional; we unconditionally love our children.
On the other side, the task of business is one thing: to generate profit. If you don’t generate profit, you’re not in business. Acceptance in business is based on competence, the ability to develop skills, and to produce and perform. If you cannot produce and perform, you don’t belong in family business.
Combining the dynamics of family and business often creates conflicting messages, causing a family to confuse the tasks and try to use the business for what they should be doing in the family—this is perhaps the biggest mistake families in business can make. Having and maintaining clarity between tasks in the family versus tasks in the business is the most fundamental piece of building a smooth-running platform for success.
Does Your Family Business Need Help?
Family Business Matters has extensive experience assisting family businesses. With many decades of experience, we understand the wide variety of challenges that families face as they work together to build, grow and sustain a thriving family business generation after generation. Through conferences, continuing education programs, family business retreats, speaking engagements and private family business consulting services, Family Business Matters has assisted more than 450 family-owned businesses around the world chart their way through family business issues of all shapes and sizes.
For more information on how Family Business Matters can help your family business survive and thrive, please contact us today at (970) 948-5077.