When Joining Mom and Pop Is Good Business

Last week we talked about the cons of joining the family business (review my CONS advice at www.AmbitionIsNotADirtyWord). Now let’s talk pros.


1. Working with people that you love and trust can be a wonderful experience, especially  if you enjoy each other’s company, share mutual respect, and have good personal and working relationships, including solid boundaries—meaning that the philosophy is: work is work; personal is separate. Daniel Kaplan, President of Cloverleaf Cold Storage Co. rejoined the family business after finishing law school and working at a major law firm says, “Being in a family business acts like a magnifying glass of your relationship. If the relationship is strong to begin with, it allows you to communicate so much easier and directly about business. You can have lively, frank, heated conversation and really go at each other with the gloves off, then look at your watch and say, “Where should we eat lunch today?”


2. Typically, the business is already set up so you don’t have to start your own from scratch. Plus, you’ve lived with the business forever; you’ve grown up immersed in it, so even if it’s by osmosis, you know it. So you come into the business with context and understanding that you wouldn’t have going to work for a non-family business.

 
3. 
Your boss is also your kid’s grandparent, so The Boss will likely be more understanding when you need to leave early for a soccer game or orthodontist appointment. Your family may even support bringing babies or children to work and working around parenting in a flexible way.

 

4. You get to see your parents every day. If you have a great relationship with them, this can be a wonderful fringe benefit, especially as they get older and your time with them becomes more precious. Your children really get to get to know their grandparents; they also have the opportunity to see their parent and grandparents as personal and professional role models.


5. If your parents are great, talented business people, they’re probably going to invest more into sharing their knowledge and grooming you than they would an outsider.

 
6. You inherit the goodwill reputation of, say, “family-owned business for forty years.” There’s a certain cache to that.

 
7. It keeps the money in the family.

Bottom line? Carefully weigh your unique pros and cons of joining the family business, think about it, talk with your family members about  what's  likely to be great about the arrangement along with what could go wrong. Also  speak with your objective advisory board members (read my "Get More Power From Powerful Advice" post on how to form and maximize your own informal board).

After you've done your due diligence, confidently go with your gut. 

« Get More Power From Powerful Advice | Main | Is It Honorable For Women To Give Up Their Dreams? »

More Like This: Ambition , Career , Money , Mothering , Parenting , Role Model , Women , Work/Life Balance

Tags: , , , , , , , , ,

Comments

The comments to this entry are closed.

Subscribe to Updates

Email RSS Comments
Subscribe to Ambition Is Not A Dirty Word Blog with email Subscribe to Ambition Is Not A Dirty Word Blog with RSS Subscribe to Ambition Is Not A Dirty Word comments with RSS
FREE! Reality Check Quiz: "Are you holding yourself back—without realizing it?" Find out Now!
Name
Email

I'll also include my FREE Weekly "Break It Down, Debra! Updates (a $197 value) that expand upon the core concepts of my book with true stories from women like you. I answer your most burning questions on a weekly basis, show you how to take the pressure off, stop beating yourself up and putting yourself down + give you practical advice + solid support to break free and start living your best life NOW—at work and at home. It's worked for me. It's worked for thousands of women I've advised. It will work for you.
~Rest assured that ALL your information is kept 100% confidential.

About

Email me
Network with me and stay connected!

I’m all about creating ways for ambitious women to share our stories with each other.

I am a business psychologist, researcher, author, executive coach, and career advisor. I lead workshops and lecture frequently on women’s need to embrace our ambition. I founded the Women’s Business Alliance, a motivational think tank for more than 2,500 women. For more details, see my about page.

I’d love to hear your story. Ambitious women owe it to ourselves—and the world—to make the contribution we were born to make. Let’s keep the dialogue flowing.

Search

To make it easier to find what you're looking for, this site is divided into 4 sections.

Click tabs above to restrict search to a section, or search all four below.

Follow me on Twitter

Twitter Logo
    follow Debra Condren on twitter

    Popular Pages + Entries

     

    FREE Tips Booklet from a Collection of Experts
     (Value $97)

    "How to Use Social Media to Increase Your Business"

     

    CLICK HERE to learn all about how to receive this free booklet

    Colophon

    Safe Shopping provided and verified by:
    Online Payments
    Official PayPal Seal