“Family comes first” is a phrase many of us grew up believing. For families who own their business, this idea can feel even more deeply ingrained. The family is the foundation of the business, and the business often exists to support the family’s goals, values, and legacy. But putting the family first can be problematic—for both the business and the family. There are times when the business must come first.
Constantly prioritizing family needs can lead to decisions that undermine the business’s growth, profitability, or long-term health. Such as, retaining underperforming family members in key roles, or avoiding difficult but necessary conversations. Over time, these choices can strain the foundation the business was built to support.
There are moments when the family must set aside its own needs and focus on what’s best for the business. Read about four case studies where the business came first in “When the Family Takes Care of the Business, the Business Will Take Care of the Family.”
Read about four examples of when the business must come first here.
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