A short spoken segment (single speaker) offering practical advice for running family businesses: emphasize trust among family partners, divide responsibilities to avoid daily interference, manage tense family dynamics, and note that business success tends to reduce interpersonal tension.
We have. Lots of people have family businesses. How do you make that work? What's your advice for family business? Family dynamics can be tense and tricky at times. The one thing that we've never questioned is trust. Some business partners could have backstabbing. I think in most family business, that's not usually a concern. When we were a very small company, we were all in each other's space and now we've kind of tried to divide the different areas between us and not try to influence the day to day work of each other. This isn't just for a family business, but I've learned that success seems to lower tension all around.
