Taking The Reins: What To Expect When Working For a Family Enterprise

Post date: Feb 22, 2017 1:51:13 PM

For some young people, their first job experiences (and, far frequently, their first real jobs) would come from participating in a family business. For individuals who decide to want to work in their parents' industries with the hopes of one day inheriting the family business, this is often a long and drawn out process, but one that their parents would for the most part appreciate.

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One of the things young people must understand when entering a family business is that simply gunning for their parents' role in management without actually working for any other part of the business is a recipe for disaster. If they haven't been introduced to the family business early on, they should instead choose a much lower position in the rank and file to gain a much more realistic idea of the company's culture and processes from the ground up.

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The tutelage they receive can either come from their parents or, barring that, a trusted employee familiar with the day to day operations of an enterprise. Young people interested in the family business should also take every opportunity to attend family meetings regarding business.

There are a number of challenges associated with family businesses. Among these is the increased likelihood of conflict due to misguided presumptions of what family members expect or interpersonal issues inevitably bleeding in. Young people entering the family business should treat the family job no differently from other professional engagements and keep personal issues distinct.

Currently the president and CEO of the Lupient Automotive Group, Jeff Lupient has been heavily involved in his family's auto dealership business since his youth. Visit this blog for more updates on running a family business.