Building Trusting Relationships
The cause of many family business owner disputes is a lack of trust with each other. If left unaddressed, this lack of trust can become a significant barrier to effective communications. It can stymie efforts to obtain agreement on major issues and cause businesses to fail to take advantage of opportunities because of their inability to come to agreement. It can cause a company to implode.
Just as you spend time and effort managing the business, successful family business owners also spend just as much time and effort managing the relationship that family members have with the business as well as each other.
There are a number of strategies and practices that can be employed to build trusting relationships and maintain or enhance the relationships that you already have. At the top of the list is regular communication with family members about the business.
Call or email me for more ideas that you can employ.