Within my business, I typically address and work with the entrepreneur individual – the self-starter and the sole proprietor. However, there’s also a need to address those of us entrepreneurs that start businesses within a group or team. A common and more complex entrepreneurial team is the entrepreneurial family.
This week we have a guest blog from Fundera. Here, they share advice from a variety of famous entrepreneurial families. If you’re thinking about starting a business with your family, read this first!
Some families just have a knack for entrepreneurship. Starting a family business has unique advantages and challenges. On one hand, families work together and coordinate in a way that mere business partners cannot, and everyone in the family participates in the success of the business. On the other, familial bonds can get in the way of business decisions and pressures and even be detrimental to the business. There isn’t one specific way to correctly deal with these issues, but a good place to start is to study the stories of other successful entrepreneurial families. There’s plenty of great advice that comes from such families, and Fundera has compiled 7 such tips from them in a handy infographic to get your family through those tough times!