Tips for a Successful Family Business

HeraldNet:

So, you love being with your family and you love the thought of operating a small business. Why not combine the two, and create a family-operated small business? Mixing family and business can lead to success. The combination can also challenge the strongest of families. We talked to the owners of several family businesses in Snohomish County for their suggestions for making this kind of small business work.

Setting boundaries
A family business can impede on family time. That’s why it is important to set very clear boundaries between the family time and business time.

“We make time for ourselves, enjoy our neighborhood and community and appreciate what we have,” Linnea Covington said. “You also need to keep your humor and keep the business at work. When one of us is low, the other person can help pick them up and vice versa.”

Defining roles
A family business also has special challenges such as defining roles and setting boundaries. As with any business, roles need to be clearly defined. This is even more important in a family operated business, since disagreements at the business can easily spill over and cause tension in the daily interactions between family members.

Image via Boston.com

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