Juggling the diversity of expectations, relationships, and motivations in a family business can feel like balancing spinning plates in the air. First, there are family perspectives from those who have the most history and believe they know you best. Then there are the business perspectives of long-term loyal employees who witnessed your maturity from potentially a young age to where you are today, either thinking about joining the business, entering the business, or having had a number of years in the business. Both family and business perspectives are generally shaded in some way by stereotypes, relational baggage, the belief of nepotism, or fear of being replaced. With the family and business plates spinning in the air, it becomes very easy to overlook individuals, or your motivations, perspectives, and goals.
The family business can be a beautiful environment of collaboration, creativity, and opportunity for those we refer to as “blood family” and your extended community of family. However, anything worth having takes work to effectively and successfully juggle all of the spinning plates of expectations. Without a commitment to personal development, nurturing relationships, and clear expectations, a family business environment can quickly turn into a kicked hornet’s nest of havoc.
Our series focused on “Family Business Balance” provides insight into the various perspectives influencing the family business environment so all those associated can thrive and achieve their personal, family, and business goals. Remember, there is no business gain worth a family loss.