There is an interesting reference I have ever read, that most businesses in western countries, especially America, is a family business. It’s just that kind of business can be large or so one economic power, so long as there is cohesion in the family.
In addition, they also must have the entrepreneurial spirit. Indeed, the most urgent goals for the family business is to generate profits, and provide the best for their children.
I admit, there are strengths and weaknesses of the family business. Strength, ie there is a better confidence on the family itself than on others. And, if the owner or a family member may serve directly to customers or consumers of course they will feel special service.
Meanwhile, his weakness is his business would be disrupted if there is a problem in the family business operations. Because, however, whose name is a family business, of course much to do with emotion, treatment, security, in addition to the matter of productivity, profitability and the achievement of the business itself.
For example, there are married couples become entrepreneurs, hence, their business will be successful if they can be a good business partner. But if not, they will experience a painful experience.
According to experts, Entrepreneurship, Charles Kuehl, weakness husband and wife who are both entrepreneurs, ie they will often together. Conversations at home often dominated business problems. In the event of divorce, resulting in grim business.
While benefits are a couple family can usually work longer to make his business a success. And, they can also change shift guard at home and in the office.
So what if the business of their children also participate? I think this is fine. Therefore, it is already part of their lives. There must also experts who say that such businesses often can not develop properly when it was owned by the second generation.
I think the chances of that happening was when the second generation does not have the entrepreneurial spirit. Or because they did not want to be in the shadow of his parents’ success.
Therefore, in my opinion, no matter if you want to expand the family business, so long as there remains unified and entrepreneurial spirit that continues to be developed. Moreover, this family business has a high degree of flexibility, especially in its business operations.
However, we must realize however, that the family business is a flaw, and how we can cover it. But I believe, if we become a true entrepreneur will definitely be able to consider, which is the best to choose for the future of the family business.