Family and business: What should I do if my family does not support me with my business?

Family and business: What should I do if my family does not support me with my business? Most of the people who decide to undertake are unfortunate in not having the support of their closest friends and family. This is because most people are afraid to take the kinds of risks that running a business entails, criticizing those who dare.

Now, if you want to know what to do if your family does not support you with your business, we give you some tips to help you in the process.

Why is the family so important to the human being?

They say that family is one of the most important and valuable gifts in our life. The word itself is so important that it means feeling safe with the people around us, whom we can always count on and with whom we can share our problems. But what happens when instead of comfort and support, there is anguish and emptiness?

It is difficult to think that those who love us most can do us more harm. After all, not all toxic people are cruel and indifferent. Some of them love us deeply and have good intentions, but they don’t do us any good.

How can I ensure that my relationship with my family does not affect my business?

Some strategies that you can put into practice are:

• Acknowledge your feelings

Your feelings matter. Recognize how you feel about a situation. Think about your natural actions when this person is around you. Please become familiar with your feelings, face the truth about them, and then decide how to move forward based on those truths.

• Set limits

Just because it is family does not mean that they know you or that they have to make you feel better. Defending yourself is necessary for your emotional health, peace of mind, and security. Set limits that fit the situation you are dealing with.

Physical abuse would involve severe limits, such as the complete removal of this person from your life. At the same time, someone who is causing emotional abuse during specific situations may lead you to remove them from those specific situations. Protect your heart from those who would do irreparable harm, even if they are in your own family.

The family is practically an institution in our culture. However, it is also a scene of conflicts, disagreements, disappointments, and traumas. What can we do then? Somehow, we know who is and who is not. Be smart when asking for help. The funny thing about this is that sometimes we find it in people who do not belong to this circle, which is fine.

Why is it not good to involve the family in the business?

If your family does not have the custom of working as a team and dedicating themselves to the same profession, involving them in your business can be dangerous. Many family businesses have failed due to:

1. Dependence on the founder

Most of the time, the company’s growth is because of the vision, leadership, and dedication of its founder, who, by developing the company from scratch, knows its operation, finances, clients, and market perfectly. In many cases, the company depends entirely on the owner, who, even with the growth of the business, continues to manage practically its entire operation, leaving aside the preparation and development of key personnel whom it can trust in the future.

This dependence practically turns the owner into the business itself: without it, the organization cannot operate. Therefore, the company must be able to delegate part of its functions in an orderly fashion, develop and train high-performance personnel, and generate career plans to support accelerated growth.

2. Lack of access to financing sources

This is a situation that is generally present in family businesses and hinders their growth. To stay competitive in the current disruptive environment, it is essential to continue innovating and investing in projects that allow the company to increase its sales and be more efficient.

3. Exceeding the capabilities of the business

Family businesses experience cycles of both abundance and contraction. Businesses of this kind fail because they are used to providing familiar well-being to which they are accustomed, regardless of the financial situation the company is going through, and without considering the reinvestment capital necessary to generate innovation projects and investments that allow the business to grow and remain competitive.

4. Lack of clarity in functions

When family businesses are founded, typically, both family members involved in the operation and the rest of the employees carry out multiple functions that are constantly adapted to support day-to-day operations. However, as these grow, so does the need to establish clear responsibilities for each team member.

5. Give priority to family members

Sometimes the founder places the most important positions in the company in the hands of family members, even creating positions that would not exist in the organization if not filled by family members.

This is generally done without considering the person’s talent, skills, knowledge, and capabilities, placing family members in positions for which they do not cover the profile and harming business performance. If it is decided to involve a family member, this has to be earned by right, demonstrating interest, talent, commitment, knowledge, and skills to perform appropriately in the position.

6. Lack of an orderly succession

The most common reason family businesses disappear is the company’s transition to the next generation. In particular, the first generational change is crucial for the company’s sustainability since it implies that the person who knows the business best and has operated it since its foundation leaves it.

What should I do if my family does not support me with my business?

Opening a business is not easy, and it will happen to you that more than once, not even yours, will support you. But in this article, we explain how to deal with this and not let your dreams give up.

• Do not tell him your projects and goals, Family and business

You know your people, and more or less, you know what they will think. If you already know that they will not like it, do not tell them and wait for results. They only reflect their fears in you because they do not want you to suffer. The moment they see that you’re doing well, you’ll see how they change their attitude.

You may have already told them, and they have responded negatively. Well, do not mention it again, but do not get out of your way. Surround yourself with other people in the same niche that motivate you to achieve your business success. Doing so will not affect you so much that your family or old friends do not support you in your project.

• Ask the opinion of those who have achieved, Family and business

As we told you, do not tell your projects to people whom you know will not support you because they will transmit their frustrations. We invite you to share them with people who have already supported you. And ask for their opinion.

Do not talk with just one, but with several individuals, to have different visions of successful people who motivate you to achieve what you want. Stop interacting with mediocre people who demotivate you and start interacting with people who encourage you to fly.

• Get used to criticism, Family and business

Criticisms will always be there, regardless of who they are, especially when you are an entrepreneur since you will always be exposed to public opinion. At all times, there will be people who adore you and people who don’t like you at all.

Focus on people who like what you do and only listen to criticism if it helps you improve. If not, ignore them and focus on making money, helping people who want to be helped. Do not try to convince anyone, do what you want.

• Accept your responsibilities, Family and business

No matter how friendly your friends are, they will not come to solve your life when things go wrong. That being the case, it is absurd that you mortgage your life by giving up your dreams for what they may think. Besides, whatever you do, there will always be someone who criticizes it.

Conclusions

Now that you know what to do if your family does not support you with your business, you can get ahead despite all the obstacles you have to face.