CompanyBest Tips for Running a Family Business
Thinking of starting a family business? Read this! The Business Beware Show has compiled tips from family business owners around the country (including Gypsywing and Varsity Sports Academy founder Lolo Siderman!).
We asked, you answered:
“What is Your Best Tip for Running a Family Business?”
Check out what these business owners had to say about working in a family business!
Lolo Siderman, founder of Gypsywing Media
“Handle separate areas of the businesses. Too many cooks in the kitchen can be a disaster, especially with family businesses!”
Jeremiah P. Sullivan, owner of Framework Media Strategies
“Once you shut the lights off for the day in the office, the work and everything related stays there; don’t let it permeate your life outside of the business you are in.”
Sharon Gilchrest O’Neill, author of “A Short Guide to a Happy Marriage.”
“When the family/couple relationships are not functioning well at the office, sooner rather than later, seek out an appropriate professional to work with you all. Myriad family/relationship issues can play out negatively, harming a business in ways that in retrospect, people are so surprised about.”
Brian Amthor, family member of the fourth generation family business, Amthor International
“The key for a successful family business is separation….being able to separate home life from work life. You are to run the business the business isn’t supposed to run you.”
John Durante, owner of Durante Rentals
“Practice effective communication. Listen as much as you talk. Make sure everyone is on board with the same priorities, the same goals and the same mission.”
Jessica Chapman Clark, founder of Room to Breathe
“Clearly write down roles and responsibilities and what happens when someone needs to be held accountable. Write this down ‘before’ everyone gets cranky when things aren’t getting done.”
Jacqueline Camacho-Ruiz, of JJR Marketing
“Keep business separate from personal by creating systems, processes and procedures.”
Janice M. Walters-Taylor, owner of BSASS LLC
“There is a tendency to not treat the other family members with the same level of courtesy and respect as would be afforded an “off the street” employee. My best suggestion is to treat family members as if they were not.”
Cole Parker, VP/COO of Divas In Defense Inc.
“Identify SPECIFIC roles for each individual and entrust them to manage that role effectively. By establishing parameters of everyone’s responsibility, it will prevent useless conflict between involved parties.”
Randy Rubin, co-founder of Crypton Fabric
“Divide up responsibilities to help alleviate stress.”
Joelle Obsatz, co-owner of Butterfield Market & Butterfield Catering
“Support and respect each other. You do not have to agree on everything, but work together and come up with solutions.”
Colleen McCarty, co-owner of Mod’s Coffee and Crepes
“Let your family members play to their strengths, even if that means not being involved in the business at all!”
Tanya Mitchell, VP Research and Development of Learning Rx
“Leadership comes from the top, if the head has anger issues and poor business practices it affects everyone. When your leader is always trying to better themselves, it makes their staff also try to be better people. “
Eric Poulin, CEO of CalendarBudget Inc.
“Constant communication and not assuming, checking of how everyone feels about their assignments can make the difference between a business that works great, and a millstone dragging everyone down.”
Ashley Walkup, of EmbracingBeauty.com
“Clearly divide work so there is no confusion & each person gets to work in their area of expertise. Set designated hours to work and stick to them. When hiring an employee make sure everyone is in favor of hiring them. Most of all be organized! When life and work are organized everything runs smoothly.”
Heath Goldman, President/CEO of ICON Wealth and Legacy Partners
“Set up your estate and business transition plan long before you actually think that you need it.”
Christy Cook, founder of Teach My
“When you work together, you need to know when to switch off. Also, if you have work debates or disputes with your spouse/business partner, put them aside in the bedroom! Leave it for the office and for office hours.”
A special thanks to all that participated!
