Aside from keeping home and work issues separated, the dynamics of a family need to be separated as well. For example, at home, the roles of father and son are quite clear and have been for generations. However, at the office, the relationship between father and son can take on diverse forms, such as being co-partners or president and vice-president. This means that the professional respect and courtesy one would afford to any upper management team should always be present, even when the ideas of one partner are adversary to the other. Acknowledging this difference can make any business run much more smoothly.
In addition, the business plan must accommodate change. In the beginning, the business plan is often from the mindset of a business owner/entrepreneur. However, as time progresses, the mindset must change to that of a typical business, with the idea of upper management, management, and employees. As the business grows, the business plan must grow as well.
Family businesses are unique in numerous ways, and they deserve to work with an expert that understands this. The experts at Hubler for Business Families have many years of experience working with family business owners and look forward to bringing that experience to your door. Contact them today at (612) 375-0640.