The Good, Bad and ugly of working in a family business.

July 3, 2007 at 12:22 pm Leave a comment

Just thought that this would make an interesting food for thought entry on the good, bad and ugly of working in a family business.

Good

  • You get flexibility in the work timings.
  • You get to see your family around you as everyone works as a team to forward the company.
  • You get several perks like the car, free lunches and direct interaction with the major clients in the company
  • You get to go on business trips aplenty as a representative of the company.

Bad

  • Unrealistic expectations from the patriarch and matriarch like how you’re expected to know everything cause you’re the “brilliant kid” in your parent’s eyes.
  • Pressure to excel much more than the average John and Jane doe.
  • Doing the jobs where no man will venture. IE, if your staff decides to default on the job, you have to come in and play.
  • Not having the choice of doing what you really want.

Ugly

  • Seriously, you have not much choice in dictating what you really want to do and you get thrown responsibilities at the whims and fancy of the boss.
  • Family nuances can too often come into play.
  • And you can’t quit.

It’s a love hate relationship and sometimes I do get tired. The above is not indicative of all family businesses but just the one that I am in.

Acknowledge the situation and change it. That’s the advice I have to myself.

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Entry filed under: Entrepreneurship, Family Business.

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