Main Menu
Home / Career / 5 Common Threats to a Family Business

5 Common Threats to a Family Business

Imagine all the stuff that annoyed you about family as a kid, and then magnify those issues to the scale of business. Yikes. Tina Indalecio warns of five threats to family businesses for About Money.

Watch Out for Wedgies

Family feuding is itself the first threat, the problem of family arguing incessantly and not settling on meaningful resolution. Related to this issue is the threat of letting emotions run the business; bad reactions to feedback can send family members and the business itself in bad directions, so try to keep level-headed. Nepotism is another common concern, in that trying to be well-meaning about elevating family to high positions could discourage other employees who have worked harder. Along those lines, in companies where family occupies all the top spots, good employees are less inclined to stick around as a result of having fewer opportunities for growth and ascension. Who could blame them? And the final risk is to simply not have a good succession plan in place, which could spell jeopardy for many.

You can read the full article here:

About John Friscia

John Friscia is the Editor of Computer Aid's Accelerating IT Success. He began working for Computer Aid, Inc. in 2013 and continues to provide graphic design support for AITS. He graduated summa cum laude from Shippensburg University with a B.A. in English.

Check Also

The Rise of Botnets in the Age of IoT

One of the greatest dangers to future (and current) cyber security is botnets. This short …

Leave a Reply

Your email address will not be published. Required fields are marked *

Sorry, but this content
is for our subscribers only!

But subscribing to ACCELERATING IT SUCCESS is FREE and only one click away!
Join more than 40,000 IT Professionals and get the best IT management articles to your mailbox with Accelerating IT Success!

Unsubscribe at any time