Most of our businesses are family business or going to be one, when our children, wife or relatives joins in.
One of the major challenges that family businesses face is lack of clarity on policy matters and business norms. Sometimes, the business will have these norms, process and policies. But the ones that's applicable to his son or relative will be missing.
Resulting in confusion, ego problems, conflict with managers etc.
This can be avoided, if upon the entry of a family member, it is made clear to him,
1. what the business policy on various matters is (ideal to have it officially written),
2. where he is on the organisation chart (it should have one),
3. who he should report to,
4. what his job description is and what it is not (not interfere in others affairs);
5. what actions from his side will result in an action against him
6. what his targets are
7. what his remuneration will be
Being clear on this will make things more positive for the relative or even the son. Thereby avoiding many crisis situation.
It is easiest upon entry of the relative, but hard to implement when he is already part of it. In such cases you will need tact and a perfect plan to do it smoothly. If you can't, it's better to use the services of professional consultants so that these changes will come as a result of a professional advice, and a family conflict can be avoided.
Business Insights by Ameen Ahsan @
*Ameen Ahsan Strategy Consulting*
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