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You can choose your friends and business colleagues, but you can’t choose your family. However, many people choose to start or continue running businesses with family members. Of course, the common stresses of family and business are usually multiplied in a family business, so it’s important to establish the ground rules early on. Here are 20 tips to keep your family business on track.
Chances are, you’ve had to make some changes to your company’s internal structure in response to the economic downturn and in preparation for the slow recovery that appears to be underway. As with everything in business, restructures can be done well and they can be done poorly. Here are seven principles to help you avoid unnecessary complication.