Avoiding Conflict When Family Members Join The The Business

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Avoiding Conflict When Family Members Join The
The Business
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• Bringing family members into a business always
  carries an element of risk. Conflict between
  siblings, cousins, parents, and their offspring
  can damage the business and family relationships.
  Family businesses encounter many problems, but
  having close relatives on board can be a good
  move for those with a strategy for avoiding
  conflict.
• One of the biggest challenges is creating
  boundaries between personal and business
  relationships. Five years ago, Adam Foster,
  director of The Fibro Guy, brought his wife into
  the company as a safeguarding lead. With her
  business knowledge and her social worker
  background, he considered her the best candidate
  for the role. However, he was also aware of
  potential downsides to the arrangement.

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• Work can easily bleed into our personal time
  together, which is why work-life boundaries are
  essential, he says. Having a dedicated
  finishing time, as well as rules of no shop talk
  when on dates, helps to create a good balance. On
  the upside, as she has watched me build the
  business and support us both over the years, she
  is incredibly invested in the business, much more
  so than if she was just a normal employee.
• One key to avoiding conflict between family
  members is being clear about what their duties
  are and what is expected of them. When Philip
  Bacon, director of Bacon Marketing, needed help
  with his business, his sister was the first
  person he turned to. In approaching her, his
  strategy was to treat her like any other employee.

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• My top priority was being clear about what was
  expected of her that way, there should be no
  arguments or bickering, as siblings tend to do,
  The forbes says. As a partner or an employee,
  they should be treated the same as others in the
  business. Two years on, theres been no conflict
  between us or anyone else on the team.

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• Andrew Tropeano had worked at a consulting firm
  as a sales rep and an account manager before
  attending New York University business school.
  After graduating, he joined his fathers video
  production business, NewsWatch TV, and
  immediately took responsibility for business
  operations and video production. His younger
  brother also joined the company and took over the
  sales function due to his external experience in
  that field.
• Our father never had any roles outlined for us
  before joining, however, says Tropeano. We
  naturally migrated towards roles that suited our
  experience and passions, and so far, its worked
  well.

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• He says Meetings are run with strict agendas
  and rules, and responsibilities for every role
  are drawn up, agreed upon, and put into writing.
  Its natural for family members to feel a false
  sense of permission to meddle in another family
  members department. But agreeing to it formally,
  in writing, sets boundaries that are hard to
  overlook. Its also critical to respect one
  another and not allow childhood pasts to cloud
  judgment.
• With rules in place and the written agreement of
  everyone, regular, frequent and open
  communication further helps to strengthen the
  family bonds within a business.
• Dmitry Sokhach, founder of Admix Global, says
  Every business needs good communication to
  thrive, and it is essential when dealing with
  family who may expect priority over other
  employees. For example, if you have upcoming
  promotions or succession plans, it is important
  to be open and honest.

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Thank you