At some time or another, many families
decide to try to open a business together, with the most popular options ranging
from setting up a retail or crafts store to building up a café or restaurant.
Family businesses can be an exciting way to bond with your loved ones and work
on a project together, so here are some things you need to consider when doing
so.
The Safety of Your Family Members
The safety of your family members is
paramount when you are setting up a business, but many family companies are lax
with this. To make sure that your loved ones can stay safe, you should act as
if you are starting up a much bigger venture or as if your employees are not
your family members. For instance, if you are setting up a construction company
together, you should invest in light
bars that can alert other vehicles of your presence on the roads. You
should also check safety regulations and make assessments of your work
environment regularly.
Keeping Work and Personal Life Separate
When you are working for yourself, it can
be difficult not to become all-consumed with your business. However, this can
have a negative impact on your ability to have a healthy relationship with your
family. It can even cause conflict. Therefore, you should aim to keep your work
and personal life separate by meeting up outside of work and banning talk of
the business at family gatherings. You should also stick to set working hours.
Encouraging Your Kids
If your kids also want to get a job in your
business, once they hit the appropriate age, you should let them. However, you
should discuss with them that you are their boss in the workplace and that they
must act and will be treated like any other employee. You should also encourage
them to get
another job beforehand to gain experience and to gain more skills for their
resume, though.
Getting Everyone Involved
It can be upsetting for family members if
you shut them out from participating in your project, and so you should get
everyone involved by playing to their strengths. For instance, you may ask a
tech-savvy artist to design your website or flyers and get another to be in
charge of your marketing campaigns.
Whether to Employ Family Members
One of the biggest questions surrounding
family businesses is whether you should employ family members or not. Although
you should work together on the project, you should define a clear hierarchy
and roles and responsibilities before you open. You also should consider
employing people outside your family to give you another perspective and to
help you to diffuse
any chances for conflict.
Opening a family business can be a nerve-wracking
experience. However, to make sure that your venture is a success, all you need
to do is to plan in advance, considering some of the elements that could make
your new project a challenge.
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