Some tough love from George Cloutier author of , "Profits Aren’t Everything, They’re the Only Thing."
But don't be scared off; with all that tough love, some great advice for those of you running a family business - or for those who have longed dreamed of doing so.
Guest Author Blog: George Cloutier, Profits Aren’t Everything, They’re the Only Thing.
Of the 23 million small businesses in this country, 60-70% are family-owned. That’s where most of their problems start—with the rest of the family.
Our company, American Management Services, has worked with hundreds of troubled small- and mid-sized businesses. We don’t publicly present ourselves as a family counseling service, but a good deal of the time that’s exactly what we do. The problems that are rife in most family businesses are not just about profits and losses. They’re about all the raw emotions, the resentments and the betrayals between husbands, wives, sons, daughters, brothers, sisters, and in-laws.
The best family business has one member. Blood and business don’t mix. It’s a recipe for office dysfunction. In my experience with thousands of small businesses, I have found that putting relative in a role they are not suited for will lead to failure, and it’s done way too often.