Tips to manage threats to your family business:
- Clearly define the goals of the company and make sure everyone is on the same page.
- Outline each family employee’s role and responsibilities and hold them accountable.
- Keep an open line of communication at all times.
- Address all concerns quickly and in a non-emotional manner.
- Create a fair promotion and salary system that is based on individual merit and ability.
- Take a management course to learn how to separate your emotions from the management process.
- Provide opportunities for advancement in your business for non-family employees.
- Be prepared and create a succession plan to ensure your business lives on after you are gone.
Contact Information:
Merle Schneider
Co Owner Broker/ Vice President of Operations/ New Construction Consultant
Office: (636) 946-5553 ext. 237
Cell: (314) 422-8040
Fax: 1 (866) 730-5961
Email Me
MerleSchneider.com
Audio Segment 2: Merle Schneider
Audio Segment 3: Merle Schneider
Podcast: Play in new window | Download
