Insights for the family-owned operation

Insights for the family-owned operation

WHEN IT COMES to your small business, there is usually no such thing as too much analysis or planning. It’s essential to always be open and honest about the way your business is being handled by all those involved in its success. That is especially true for those family members who are given opportunities to be a part of the operation.

There are certainly many benefits, as well as challenges, to working directly with family. Oftentimes, the closeness and familiarity between relatives can be a roadblock to efficiency. One way to stay on task is to discern between simple family arguments that can be solved with a little cooling off, and the serious problems that have the potential to affect productivity.

It’s also important to remember that the owner of the business is ultimately responsible for its success or failure. As that person, the owner must be a leader who sets the tone and direction for the company’s future. There is a time to leave childish things behind. When you are responsible for employees/relatives who look to you for work and support, there is no choice but to step up and light the way for them to follow.

CREDIT

column by BAXTER TROUTMAN

BIO: Baxter Troutman is founder and chief executive officer of Labor Solutions, a staffing company with offices in Bartow, Winter Haven, Lake Wales, and Arcadia. A citrus grower who served in the Florida House of Representatives, Troutman understands the challenges and concerns of today’s farmer.