FAMILY BUSINESS 
| Coaching tips to help
you address the unique challenges of family business |
Family business is a unique situation. You have the positives of a
long term view and family values. On the negative side, there can
be interference between family issues and business issues.
Q: What are the things family members
need to be aware of in their leadership role?
A: The biggest thing to address
is having an attitude of entitlement. Family members can sometimes
be given a position of authority because they are in the lucky sperm
club. So it’s important to act with humility and earn your
way in the organization. Other non-family employees will anticipate
that family members will be first in line for promotion so there
is no need to flaunt it. Treat people with respect and you will
gain their loyalty.
Q: What about non-family members who
want to get into management at a family-owned company?
A: There are almost always opportunities
for non-family members to rise into leadership roles - even at the
most senior level. It usually requires a slightly different skill
set than in a non-family company. The key difference is being sensitive
to the family dynamic and how it impacts decision making. It is
wishful thinking to think that family issues and business decisions
will be kept totally separate, even if that is the goal. It's like
the politics that you might find in any other organization - just
with family bonds and baggage attached.
Q: Is there any organization to help
people in family business?
A: Yes, the Canadian Association
of Family Enterprise is a resource for Canadian companies. In other
jurisdictions you can search for family business association. Visit
http://www.cafecanada.ca
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