🌱 When Your Business Family IS Your Family: Tips on Keeping the Peace 

Many businesses like to say that their work colleagues feel like a family, but have you ever had a company meeting erupt into a family feud? Fortunately, we haven’t at Bonanza Cannabis Company, but it’s not without trying. With two brothers, Corey and Conlan Keller, at the helm of the business there have been more than a few heated discussions since the company first began operations in 2019. But when family members commit to a business and bring the best of their long-term relationships with each other to the office, there are very few challenges they cannot conquer. Despite what many might think, running a business with your family offers many unique advantages – so long as you understand the risks and rewards. 

A double-edged sword 

The trust and shared values family members bring to a business can be hugely beneficial, particularly in the earliest days of a company as the business is getting established. By removing the uncertainty that can result from numerous strangers trying to work together, family businesses are able to move faster and more nimbly – often outpacing other companies with slower decision-making processes. The engrained loyalty family members feel for each other often also translates into loyalty for the business, helping to build a stronger company with a greater focus on long-term success and quality. 

However, the close bonds of family members can also blur the lines between the personal and professional, which can lead to emotional decision making, perceived favoritism and an imbalance in responsibilities. While respecting traditional familial roles, businesses should be sure to assign specific duties to each family member in the company. A lack of clearly defined responsibilities can lead to role confusion, disagreements and missed opportunities. 

A family business is first and foremost, a business 

If it sounds like fun to create and manage a business with your family, that’s because it truly is one of the most fun things you can do with your life. Family relationships are the most enduring relationships any person will ever experience, and they define a family dynamic and a person’s role in it. Many families naturally maintain this same family dynamic throughout life. 

But a family business is first and foremost, a BUSINESS. Therefore, it’s critical to develop defined roles and responsibilities immediately and to stick to those definitions in the practice of the business. Falling back on defined family roles may not be in the best interest of the company. Establish professional protocols for all business activities, including ongoing company meetings, conflict resolution practices, communications and human resources. Of utmost importance, separate the business from your personal lives whenever possible. When a family event creates cause for celebration, keep talk of business to a minimum. Similarly, when business achievements are acknowledged, family matters are best left unsaid.  

Keep disagreements focused on business 

Even the closest of co-workers sometimes experience conflict. In any successful venture, there will be times when decisions create disagreements, stress overwhelms colleagues and emotions erupt. Just like in any family, fights and arguments will occur. The secret in a family business is to forget bringing up the past even if it feels relevant to the current problem. No matter how tempting, the business challenge at hand is not a good excuse to recall the time your family member failed in a similar circumstance. Family members typically understand the best ways to “push the buttons” of each other, but rarely does that tactic produce satisfactory results – in business or in life. 

The key to disagreements is to stay focused on the business objective and keep emotions out of the picture. When push comes to shove, consult with third-party, objective advisors, consultants or valued employees to resolve disputes between family members. And make certain that the full team understands the relationships at play: Family members can argue like their fighting to the death and then go grab dinner afterward like nothing happened. Don’t let family business squabbles affect the focus of other employees. 

The truth is, there are very few endeavors that can be as satisfying and yes, frustrating, as a family-owned-and-operated business. When managed with intention, it can be an extremely rewarding experience. If you have ever worked at a family business or formed one yourself, you’ll likely relate to everything said here. Tell us a lesson you learned from your family business in the comments.