The comment is made on a regular basis in the world of business. It is so commonplace, we even hear it when dealing with friends and family on a transactional level. The phrase is, “it’s just business.” Most know the meaning of the phrase, which is that decisions made in business are not to be taken personally. Business decisions may be harsh and hurtful; however, when it is “just business” these decisions are not a reflection of either party on a personal level. How do you keep that mantra true in a family business, especially when the person being reprimanded, placed on leave, or even fired is a blood or legal relative? The good news is it is possible. The bad news, of course, is that it is not always easy.
Setting Clear Boundaries
Family business is never easy. Personalities that can often butt heads are expected to work together for a common good. However, while that can be easier to do when the parties involved can go home at the end of the day or week and not think of each other until the next working day, families do not have that option. After a fight at the office or a continual difference of opinion, the members of these types of businesses, must still see each other at dinner or the next family gathering. One way to help make the transition from work to home smoother for a family business is setting clear and visible boundaries. The most successful family businesses have clearly defined rules for business versus family time. For instance, they may not be permitted to discuss business issues unless they are in the office, whether it is a home office or an external place of business. Additionally, they may not be permitted to bring any work into their home or family gatherings. These are just two simple examples of boundaries. Other boundaries may be much more defined or even complex, depending on the type of business and the family members involved. However, there are no successful family businesses that do not set clear boundaries of any type.
Making Time for Family
Making time for business is inevitable. We all have bills to pay and items we want, which all costs money. Therefore, we are ingrained to make time for work. At the same time, we are constantly told to make time for ourselves. However, when you own or work in a family business, you forget the importance of making time for family. Family surrounds you in the office or on the job daily. Therefore, many times, you feel as though you already have made time for family. Yet in reality, all you have done is made time for work that happens to include family. Making time for family means doing things with your family that remind you of how precious they truly are to you and your personal happiness. This philosophy will help your family survive the family business both at home and at work, allowing business to truly be “just business.”
If you are struggling with the art of running a family business, or if you simply want help and an expert with whom you can bounce around ideas, contact the family business experts at Hubler for Business Families at (612) 375-0640.
If you are struggling with the art of running a family business, or if you simply want help and an expert with whom you can bounce around ideas, contact the family business experts at Hubler for Business Families at (612) 375-0640.
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