It’s a joy to be able to write another article for you guys. Today I want to share with you my insights and experiences on the topic of Family-Owned Businesses. In my lifespan I have been in contact with many family businesses all over the world. As a matter of fact when I was a teenager I was heavily involved in my family’s business. At that time we had a grocery store in which we sold groceries and all sorts of local and foreign products. My personal role in the store was to deliver products to clients around the city and also I was in charge of managing the store’s inventory.
That experience led me to love the business lifestyle and also to know a lot of entrepreneurs and business people. A great portion of those business owners run a family-owned business.
What are the main characteristics of a family business?
There are many types of family business from a multiple generation business to just a couple who have the same profession or happen to work in the same career or type of business. In this example I have some good friends in Mexico who are husband and wife and work in a small architecture firm near Mexico City called Habit Design Construction: www.habitdesignconstruccion.com. They are the perfect example that couples can work together and complete projects in harmony, time and with success.
There always has be a person who is the leader, sometimes the eldest of the family, the grandpa or the eldest of the siblings. To be successful communication skills are vital. The leader has to be able to delegate and trust all the people involves.