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Tagged by: "Family Business"

Find balance when your business partner is your spouse

Having similar goals and interests are key to many successful relationships. So it's no wonder that about one-third of family businesses are run by husband-and-wife teams, according to the Wall Street Journal. Running a business together requires the same qualities that create a successful marriage: trust, communication and commitment. Working hand-in-hand to build a partnership that's both professional and personal can be incredibly rewarding. Here are some tips to keep both relationships healthy. Read More >

Being fair with family wages

Determining appropriate compensation for employees is tough enough, and even more so when some or all of your employees are family members. How can you most effectively determine a "fair" salary for all your employees in a family-owned business? Read More >

Create effective rules for your family business meetings

Running a business with your family can be incredibly rewarding, but when working with family members, ordinary conflict can take on a new dimension. The interconnected nature of a family business means that workplace issues, family drama and business conflicts can come together to create serious problems and communication breakdown. Set your family business up for success by creating formal processes and strategies that help to mediate disputes and create better communication during family business meetings. Read More >

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