If you do not want it to become one more of those companies with family ties that fail to survive the first two years, it is necessary to develop a structure that puts order in the company and that aims to preserve the balance between the development of the business and that of the family . A model that meets this objective should, therefore, enhance the qualities of a united family and take care of other qualities that are key and necessary in any company.
The keys to success in the family business
Sharing a set of values within a family-run company is vital. Generally, this means sharing the same vision of values regarding people, work and money . If as a family you have a shared vision of the company in the future, congratulations, you already have a good chance of moving forward together.
According to the data presented in the study "The family business in Spain (2015)" , family businesses have an important weight within the Spanish economy :
To lay a good foundation for success, it is necessary to life insurance email list establish from the outset what the responsibilities, rights and obligations of each partner will be, as well as to keep in mind the “shared power” . In other words, the talents and skills of different generations and members must be mutually respected. If, for example, I am the brother who is better at dealing with the public and you are the sister who is more skilled in financial matters, then you should let me do my area of expertise and I should do yours.
And what about money and accounts? This is a delicate subject in itself in a normal company, but in a family business , where trust and closeness are paramount, it is no different. Although a balance sheet is necessary to control the status of any company, in family businesses it is also a trust tool that will avoid creating personal problems within the professional relationship. Do you already know Sage ContaPlus Flex and Sage Business Cloud Accounting and Billing ? Don't miss these programs that will make keeping accounts simple and you will only have to worry about how to sell more.
Last but not least, organisation is crucial at key moments . Within a family business, the greatest challenges can occur even in times of growth and stability. If there are defined patterns of action, as well as mechanisms that ensure the quality of management, nothing will stop you.
