Valentine’s Day is all about celebrating love — which is the foundation of family.
If you work in a small business with your family, you know how wonderful it can be. You share ideas and memories. Depending on your industry, you may also experience some interesting stuff together. However, this dynamic can also have a darker side, which brings us to working with family — when love and business collide.
Here’s how to navigate this unique work environment as you focus on the pros and cons of working with family members.
Work With Your Family? You’re Not Alone
If you have had ups and downs with your family at work, you may think no one understands. However, you’re not alone.
When looking at the data, it’s clear that family-operated businesses are the backbone of America. As reported in 2023, nearly 62% of the American workforce is employed by a family-owned business. In a First Bank survey, it was found that among those working with family:
- 42% began working within the business to continue their family legacy
- 22% were asked to join the family business
- 15% said they needed a job
- 11% needed to fill an available role
- 10% said it was always the plan
It was reported that of the 73% that have (or plan to start) a succession plan, say there is a 50/50 split — balancing outside support and internal processes.
Take Steps to Discuss Your Expectations
If you plan to take over a family-owned small business, it’s always best to have in-depth conversations about your expectations and goals. Don’t assume everyone feels like you do about how your family business is (or should) run.
When looking at healthy relationships, strong, respectful communication is almost always one of the most important variables. A family business is no different. Speak your mind, be respectful, and when conflict does occur, try not to be overly reactive.
Now, let’s consider the primary pros and cons and some tips so that you can navigate the reality of working with family members.
The Pros of Working with Family Members
In honor of Valentine’s Day, consider working with your family like this: teamwork becomes a family affair when love is in the air.
Here are some of the pros:
- Built-in trust: A natural trust and level of loyalty are major pluses, as family bonds help protect the best interests of a small business and one another.
- Shared goals: There is an alignment of values and a shared vision for success.
- Teamwork comes naturally: Family dynamics can foster stronger collaboration and create a positive environment for the team and their customers/clients.
The Cons of Working with Family Members
On the other hand, sometimes, too much love can complicate the workplace equation.
Here are some potential cons to consider:
- Blurred boundaries: You may face the challenges of separating personal and professional relationships, which can create tension or result in poor decision-making.
- Conflict escalation: Disagreements at work can get personal and linger beyond work hours.
- Favoritism or resentment: Potential issues with the perception of bias, especially if you work with multiple family members.
Navigating the Challenges of Working With Family
Some days, you may feel like the luckiest person to be able to work with your family members. On other days, you may wonder why you agreed to the idea. When hurdles and challenges present themselves, you must take the right steps. Doing so will help support a longer, healthier work dynamic for you and your loved ones.
Consider the following:
- Set clear boundaries: It is important to define boundaries concerning work and personal spaces. If you find that hardships are being addressed with personal attacks, call a family meeting to discuss your concerns.
- Establish roles and responsibilities: Avoid overlap to reduce conflict and confusion. Know what your role is and what tasks you’re responsible for. That way, you can ensure you contribute as intended and expected.
- Communicate openly: Even in the workplace, communication is the love language that solves everything. Create a culture of constructive feedback and mutual respect.
- Bring in a third party: When necessary, involve external advisors or consultants for objectivity. With family, sometimes, you need an outsider to state an unbiased opinion, especially if you need to make a joint business decision.
Do You Work With Family?
Do you run a small business with your mom, brother, or family member?
If so, you know that it can be a blessing and a curse. Regardless of personal experiences and conflicts, you need to run a business. Learning how to navigate the complexities of this business-family dynamic will help you maintain a successful partnership and loving family.
If you can relate to this scenario and want to share your experiences, opinions, or suggestions, please do so. Comment below to share, and if you want to follow along, MRINetwork offers plenty of expert advice and actionable guides.