Ime Ekpo
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Ime Ekpo in $ Financial Freedom Chasers,

Does Business and Family Mix?

This really varies. I have witnessed many successful family-owned businesses that have been operating for over 20 years. Is there a secret to this? I don't think so. The journey of a business can go in any direction when family is involved. I believe if you decide to start a business, as an owner you MUST lay down core rules and values before proceeding with operating the company. One of these rules should include, not taking the business dealings personal. This will help you avoid many bumps with relative coworkers and you can also use this tactic at any workplace, family or no fam. Make it a clear understanding to your relatives about relating business concerns with family matters. They should never cross, unless there is no way to separate the situation. Your family members will join your team with that thought in mind. They will also take the job seriously. This is what I have noticed about family owned businesses, especially the ones that have the family name attached to it. You don't want your family to have a bad reputation in your local neighborhood right? Including this in your rules and values will certainly place a bug in their work ethics. Always cater to the representation of the company! Whether they are a cashier, doorman, cook, or mechanic, every dealing concerning the company should be done with confidence and humility. When prospect partnerships come in contact with your business they want to confirm their expectations about you. Family owned businesses are viewed as the strongest ones. It is not impossible to do business with your relatives. As long as you as the owner remain organized and consistent, your business will run smoothly.