Never in my wildest dreams did I see myself owning two family businesses. My husband and I opened Bed and Biscuit Boarding two years ago. In March of this year, my son and I opened Faultline Athletics, a baseball training facility.
We found a building and opened Faultline Athletics, in 45 days. We have laughed, cried, prayed, argued and learned about working together as a family.
Did you know: Family businesses account for two-thirds of all companies worldwide and create 50 to 80 percent of jobs in most countries, according to the Family firm Institute, a global association of family business professionals.
As I think about the last few months – there are a few things I want to share with you about owning a family business.
- Roles and responsibilities should be clarified.
Boundaries are essential when working with family. The more clearly defined everyone’s job description, the less room you’ll have for workplace conflict.
- Everyone should be on the same page.
For a company to succeed, relatives who take leadership or support roles need to respect and abide by the overriding business goals.
- You should separate work and home life.
Leaving work at work is a challenge. But try living with your cofounder or direct reports — or spending holidays, birthdays and summer barbecues with them. To avoid feeling like you are on the job 24/7, maintain a “no shop talk”at family gatherings.
- Always enjoy your time together
We are blessed to be able to talk daily, watch each other grow, and build a future together.
(Pictured is Faultline Baseball 14U USSSA World Champions).
I would love to hear your tips for owning a family business.
~ ConnieKayA ~
A Southern Girl sharing her passion for living an abundantly blessed life.