In a sense, almost all owner-managed businesses are family businesses. The fortunes of even those run by a single entrepreneur without the direct involvement of other family members are heavily influenced by what goes on at home.
Such lone-operating business owners can turn their families into one of their greatest assets – a refuge of emotional support and healing when things are tough at the business, a source of inspiration during tedious times, a sounding board to help with difficult decisions. But like all relationships upon which an enterprise depends, this relationship requires concerted effort and focus, says Jeremy Lang, regional general manager of Business Partners Limited.
The ideal is to get your family to incorporate your goals for your business into their own goals... more