Mutual tricks of family business work


“What’s going on – the company is going bankruptare we selling ?”

for charlieAfter getting an MBA from another company and getting a stripe, he joined the family’s bakery business for two years. , This question from the plant manager came out of nowhere.

He aspired to earn the respect of his peers. , Rather than relying on his family name to provide it, So, he went to great lengths to become “one of the gangs” in every possible way. This included parking behind the building and going through the production plant. , Rather than cramming into the reserved space allotted near the administration office in front ofhim, most days he would stop and chat while strolling through the factory. , Get to know your colleagues and learn more about the job.

Here are some of the most common pitfalls family business members fall into, and how to avoid them.

Working for a company for the wrong reasons When yourfamily acts as if they are there to get your paycheck, or because you have nowhere else to go, it signals that every employee must push to get as much as possible. It is good to convey that you are interested in business. If you have a passion for business and demonstrate your will with positive energy and hard work, it can energize other employees and encourage them to focus more on the common cause than on who gets what.

Expect promotions without work. If a family member starts at a level beyond qualification or is promoted much faster than qualification, other employees are more likely to focus on sponsorship than performance to climb the ladder. If you’re in a family business, start at the bottom of the pyramid and work your way to the top. This will reinforce that the company is truly meritocratic.

Working around the chain of command to get special treatment How to get approval for their ideas Do you follow the rules and work hard like everyone else? Too often family members take advantage of access to senior members of the company. See rules as flexible and find ways to circumvent them. work through the chain of command? Instead,Do not demand special treatment from relatives in senior positions. Comply with our policy on vacation days. Expenses and Hours This will foster a culture of accountability and strengthen the integrity of the company’s decision-making processes.

BREAKING THE BARRIERS OF THE HOME AND THE WORK ENVIRONMENT The office politics of a family business becomes more complex when members bring family dynamism to the business. It opens up possibilities for employees to play as family members. It’s important to set clear boundaries within the workplace Don’t discuss the family drama in the office ‘Mother’, not ‘Mary’, like referring to people by name rather than relationships This helps to set a professional tone.

Working in your family’s business can bring huge rewardsBut it also entails a lot of responsibility. . as charlie learnedWorking harder than other employeesWilling to learn on the job site. , And humbly treat your privilegesYou are more likely to gain the respect of your colleagues and to keep office politics in check.