Family Business

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When it comes to family, it comes before all.

Except in business.

People sometimes forget that your business of thirty or more years could be all for naught if you hand the reins over to someone that doesn’t want the same for the business. Driven into the ground, you might say. Or, it could be the next best step in taking your business into a new generation. The question often sits on whether or not you would have hired this person if they were not of your family. If the answer is “no”, then you might be going down the wrong path. If it is “yes”, then you could be in for a treat.

Family often clouds business judgment because there is emotional attachment. You often know what the financial situation is with that family member and could have an impact on firing if it came down to it. People also hold grudges in family businesses when there are firings done. You often see holidays broken up due to family’s that have some sort of business dispute.

The other side of the coin is that family often work very well together. You already know the personalities, strengths, and weaknesses of each other and that creates an instant dynamic team that can hold each other up during the largest business catastrophes. This is extremely important in the world of small business when it seems like every little issue happens to be the next huge disaster. And it’s very difficult to find people that you can jive with in a regular work setting as well as family.

So if you’re ever in a situation with hiring family versus outside, ask yourself this: Can your family member compete against this person on an even playing field against the outsider. If the answer is yes, then the tie-breaker might win out for the family member. But if your answer is otherwise, then it’s time to consider letting someone else in.