Mar 21, 2023

7 Tips for Working in a Family-Owned Business 

For the last 3 years, I worked with my dad, Jim Sobeck, at New South Construction Supply. If you know my dad, you know he responds to emails in two seconds, works 14 hours a day, and networks 24/7. He famously loves to say "I don't expect much, just complete and utter perfection all of the time." HA!

When I decided to work with him, we spoke candidly about how it would work (spoiler alert: I was nervous). I did a lot of reading, I spoke with others in family-owned businesses via 
YPO, and talked with mentors. After three years of working with my dad, here are 7 tips I gained.

1. Set boundaries. Define roles, sign a contract, or have an official offer. Clarify who you'll report to. Last, ensure you have two emails -- one for work and one for personal.

2. Know your stuff. It was important to come in and instantly provide value. I studied up -- a lot. I asked my dad to be added to the daily sales reports to understand top customers, I asked for an employee roster, and I spent a lot of time learning about manufacturers and services so I could effectively market them.

3. Communication and respect is key. I set up a monthly meeting, we emailed 24/7, and we were open/honest with one another when we needed to be.

4. Ah, emotions. We knew we had to take emotions out of the equation and realize "it's just business." Plain and simple.

5. Remember the end game. I worked with my dad on initiatives that fit the business goals. I always wanted to ensure I was thinking not only about short-term success, but long-term success.

6. If it doesn't work out, it's OK. Luckily, my dad and I's working relationship really worked out. However, I've often seen family businesses that do not work out. Remember to have a plan b -- another option you can do if working with a family member isn't for you. Family is everything, and sometimes it is OK to walk away if it means saving your family relationship.

7. Hire a consultant. My family worked with an industrial psychologist who ensured we could work together, and I worked with a business coach as well. Don't be afraid to ask for help or to see a coach or consultant to assist with the family dynamics.

Working in a family business can have its challenges and complexities, but overall, working with my dad these last three years holds some of the best working and personal memories with my dad. I am beyond thankful he hired me, and I'm proud of the work we did together.

If you are in a family business, know I'm always here to chat with you. It's a small club, but it's a great club to be in. And I'm beyond grateful for the time I got to spend working with my dad.

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