Family Business
Running a family business has its ups and downs. On the one hand, family
businesses have a lot of advantages. With a family business, everyone
knows that they are really in it together. You are not just helping out
the business, after all, but your family. When a family company is run
well, There is no force that can beat it. Everyone knows their strengths
and weaknesses, knows their duties within the business family, and knows
how to talk to each other. Family businesses, however, are a lot like
families. They can work well or they can work not at all. If your family
owns a small business and communication starts to fall apart, you will
see the disastrous results.
As a Chinese business owner, my grandfather was an extremely pioneering
man. When he started the families business, everyone was overjoyed.
Although starting family businesses takes a lot of work, he was willing
to put in the effort. He brought people over from China one by one, and
everyone got to work on the family business.
Paradoxically, it doesn't seem like the business family was really hard
to do until it started to succeed. Everyone knew that their survival and
happiness was dependent on making the family company work, so no one
questioned the need to devote their lives to this. Now, the family
business has prospered in bloom, but there are new problems around. You
see, the new generation doesn't really want to work anymore. Between all
of my grandfather's grandchildren, there are easily a dozen of us
involved in this family business now, and we all have very different
ideas.
Some of my cousins actually wants to sell the family business. The
problem is that there has never been a very clearly defined family
business succession plan. It wasn't a problem when we were all working
together, but now that we are fighting, no one knows who owns the rights
to the business. We have decided to hire a family counselor. It is
somewhat embarrassing to see it come down to this, but I can't see any
other solution. We don't want to have to decide the fate of the family
business in court. We would much rather go through family therapy and
learn to treat each other with respect. I only hope that it works out.
My grandfather is still alive, and it would absolutely break his heart
if anything happened to the future of the family business.
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