Tips to Starting a Successful Family Business

A lot of people associate family businesses, or "Mom and Pop Shops," with small, quaint establishments like auto repair centers or corner stores. Some might be afraid to start one, despite their dreams, because they don't think it will be very profitable and it might go under rather quickly. It's entirely possible, though, to have a large-scale, profitable family business. For example, the cement distribution company Seament was started by one man named Alex Bouri and his relatively small business loan – today, it's a giant in the industry and he still runs it with his sons Mark, Maurice, and Charles Bouri. Here are some tips for family business success!

Establish a Boss

In the aforementioned case, it's fairly obvious that the father, Alex, started the business and got things going – it needs to be apparent, despite the importance of teamwork, that one person will call the shots and keep things in order. If the members of any business are too passive and afraid to take control, or too aggressive and therefore argue too often, it's difficult to be successful. Everyone should know and comply with their respective responsibilities.

Create a Business-Like Atmosphere

Despite the fact that you will be working with family members, that's no reason to behave unprofessionally – especially if you bring in outside employees. You have to be able to present yourself properly to clients and partners, so being professional all the time helps to create that illusion.

Don't Take your Work Home

When you run a business, it's easy to get caught up in it. No matter what, family comes first. Never let issues at work interfere with the personal relationships you have with your family, whether they work with you or not. No matter how lucrative your business becomes, you never want it to tear your relationships apart. Do your best to leave your business in the office, where it belongs.