Do You Really Want Them in the Business?

02.13.2014
Small Business

You have raised them from birth. You love them dearly. But do you really want them working for you? This is a decision that is fraught with numerous financial and emotional implications, especially when multiple children are involved.

The following questions can help guide you through the decision-making process:

  • Are you inviting them to join for your satisfaction or theirs?
  • Is the business better off with them or without them?
  • How strong are sibling relationships and can they withstand the pressure?
  • Can you choose between children for promotions, increased responsibility and different compensation?
  • Will these decisions harm your relationship with them or between them?
  • Are you capable of terminating a family member if it doesn’t work out?

Adapted from “Keeping Family ‘Out’ of the Family Business” at fambiz.com. Read the full article.

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