Running a Family Business

A Business Match Made in Heaven

The day arrives when your husband or wife decides they want to run their own business. Excitement is mixed with trepidation. How you react will depend entirely on your age. The younger you are the less you tend to worry about the future. However there is often a tendency to be reckless the younger you are. Age tends to bring caution and common sense, which is not a bad thing.

The 3am Jolt!

The older you are the more you will have unexpected happenings younger people rarely have. The 3am sudden jolt! That ‘wide awake’ experience which still happens even when you are totally shattered; and does one of two things. You have woken to a new idea! Or the mind floods with panic-stricken thoughts, where the heart races and you feel sick at the thought of what you are undertaking. This fearful part of the brain will have you believing poverty, homelessness and destitution is on the horizon.

Hot Wired for Business

There is a very good reason why this happens. Your ancestors would be either dying or dead by middle age. You have been indirectly ‘hot wired’ to react because of this ancient programming. The only people who fail to worry, would be those suffering with delusions of grandeur, are psychologically disturbed or narcissistic, and of course the young who never see problems anyway. There is another band of people who trust so deeply that life will work out regardless, however these people are a phenomenon. A rare breed that seems to have been born this way or knows something the masses do not.

Nepotism in a Family Business

When the business takes off you will need someone to answer the phone, make endless tea and coffee, or even do some of the smaller jobs that means you work smarter and not harder. Someone straight from college is tempting for all sorts of reasons. While this would make you feel noble, deep down you suspect this may also be more trouble than you need. You would be right! Apprentices are for large companies who can afford the time to train. Small businesses need to keep everything in the family. The bonus is, all the money goes into the same household pot.

Familiarity Breeds’ Contempt in any Business

For anyone who goes down this route, there are a few things that need to be addressed. Boundaries and guidelines! These are mandatory because things will change. The relationship you have at home will naturally be different than the working one. You cannot kiss and cuddle, well not in sight of customers. The loving pat on the bottom or sexual and loving innuendos, all perfectly normal at home stops! Neither can you raise your voice; be impatient, irritated, exasperated, angry, complacent or demanding as a customer may overhear. A tall order when this may be normal in your household.

Love in the Workplace is Mandatoryin Buisness

Not the romantic love we have come to understand and be confused about, but the kind of consideration you have with a customer. Without a shadow of a doubt if you do not have some love for your customer, then you will eventually become disillusioned. But more than anything, you will eventually lose your customer base. People can detect a fraud over the phone, but face-to-face the skills of recognition are enhanced. He or she may not know why they feel this way, but eventually the penny will drop. Love in the workplace is very important for everyone.

Work Smart Not Hard in Business

You may find out how hard or lazy your partner is by working together. Laziness is fairly rare as most people who have their own business are working extremely hard to succeed! Maybe not working as smart as one could be; but will certainly be working extremely hard! If you are going down this route there are a few considerations.

·           Be patient, not everyone thinks the same

·           Communicate, no one is a mind reader

·           Speak the truth gently, but firmly

·           Try not to take things personally or too seriously

·           Laugh a lot, a daily does of laughter relieves stress

·           Be considerate and thank each other daily

·           Be grateful you can work together

·           Learn to stand back and observe the situation as a stranger

·           Be realistic at all times

·           Go out and have lunch together, if possible once a week

·           There’s no such thing as a mistake only learning experiences

·           Apologizing is not a weakness.

We only have to look towards those businesses with strong beliefs and values and we see sustainable businesses. Working with your partner could well be the smartest thing you will ever do for your family business, as long as boundaries and guidelines are in place.