Everyone running a family business should agree on this - and preferably before the confusion becomes a problem, as I have experienced it can be.
The family dinner is an opportunity to talk at a personal level. However, it is NOT the place to discuss business decisions.
The challenges of not having clear dividing lines are many:
- Few people are prepared to make business decisions when they turn up to a family event
- Some family businesses have decision-makers who are not family members and who therefore do not attend family gatherings
- For obvious reasons, it can be difficult to take minutes and follow a formal decision-making procedure at a social event
- Family members not involved in the business may feel excluded
- Business talk in social settings can be annoying and stressful, both for family members who are active in the business and for those who are not
It is important that we talk openly about the specific challenges that family businesses face.
Do you have any experience concerning the distinction between family time and working time in family businesses?
