Running a business is challenging enough. Involving family in your business will add a whole new layer of complexity so it is vital to plan ahead with care.
- If your spouse is involved, this will add pressures to your business and personal relationships.
- If your children are involved, the lines between parent, child and employee need to be clear at the outset.
- Hierarchies can play a huge part between siblings, possibly influencing business decisions and outcomes.
People’s priorities change with time. Family members spouses’ can get involved and yield unwelcome influence. Priorities may not be aligned in the same direction and the lines between employee and family can become muddied.
It is important for everyone to remember it was you who brought your business to where it is now and to ringfence and protect your future and that of your business above all else.
Margaret has considerable experience in this area and knows it can be a source of distraction and wasted energy so you can learn from her and hopefully avoid storing up problems for the future.