editing disabled

Today in the business society there are many types of firms out there. One of the fastest growing firms today is family businesses. There are many different factors that do play into a family business in order for them to succeed in today’s world. One of the most important factors to us on how to handle the business and continue it successfully is in-laws.
An online dictionary website stated that the definition of in-laws was people that were related to the family by marriage. Sometimes when a family business is already established, the future in-laws feel a distance to it since they are not working for the family, and may show little to no interest in the business. ”In-laws enter their new families with the experience of culture shock. Unless they come from a business-owning family, they have little understanding of what to expect. (BNET)” As in-laws become part of the family and get closer to them they feel more of a obligation to learn more about the family business, since they may have lack of experience in that general field.
One thing you can’t do when running your own business is let your emotions get involved. For example: if you daughter comes along and tells you that Tom needs a job bad will you give him one? One of the first things you may need to do is to make sure Tom is qualified in position available, if you have one in the field he is trying to pursue. There is also the challenge of if Tom is not able to perform the job to your needs will you have the heart to fire your daughter’s husband.

Training Tom may require extra effort, but few people are totally unskilled.
· Endeavor to cultivate a talent he possesses that will contribute to the business.
· Provide special training.
· Arrange for him to work under a nonfamily supervisor who is a top producer. Because working for a non family member will reduce bias towards Tom. (www.sba.gov)
What happens if you die! Will you pass along your family business to one of your children that have worked there a longer time then Tom has who recently your only employee is working there now. A family meeting is necessary in order to determine who will take over and run the business, such as a neutral site for example at the owner’s house.
Consideration on the agenda should be given to
§ Family goals for the future.
§ Plans of next-generation family members.
§ Grooming of future leaders. (www.sba.gov)

Every business has rules and guidelines that it needs to follow even for the employees and family members working there. The best thing to do is have a set of rules and guidelines that everybody has to obey whether they are your son, daughter, or even newly required in-laws. You need to enforce the rules at all times so the in-laws feel more comfortable in the environment. Whether you want to believe it or not in-laws are going to be treated a little different the immediate family may be treated (Family Education). One thing that owners are going to feel different about with in-laws compared to immediate family is trust . With your immediate family you have been close to them all your life and know how they operate, where on the other hand you’ve just become acquainted with your in-laws and not really familiar with how they operate during a business environment. Performance evaluations are a must you should focus on the improvements that can be made whether pointing out weakness employees may have at the time (AllBusiness.Com). Key component in the family business is stock and should it be issued to family members as well as in-laws (AllBusiness.com). If problems do occur within the business don’t let them be unknown bring attention to them and try to fix them as soon as possible (AllBusiness.com).
If the in-laws are thinking that they are going to join the family business to have it easy they may need to rethink that choice, they should only go after it if they want and desire the field ( Expert Business).
So no matter if your family business is just you and your immediate family or even your in-laws there are certain factors that play into it but mainly overall you should try and treat everybody the same and it will help you in the long run.


http://findarticles.com/p/articles/mi_m1154/is_n9_v81/ai_13267315/
http://www.sba.gov/idc/groups/public/documents/sba_homepage/pub_mp-3.pdf
http://life.familyeducation.com/in-laws/business/48113.html.
http://www.allbusiness.com/specialty-businesses/family-owned-businesses/1190-1.html
http://www.expertbusinesssource.com/blog/1750000375/post/1800021380.html

Leon Boyette John Webster