FAMILY BUSINESS

WHY YOU MUST DO BUSINESS

WITH FAMILY

One thing that makes Africa and Africans special is our love and respect for FAMILY. The African society prides itself  with the institution of family. This in itself has positively affected our lifestyles including our businesses.

Quickly we would examine few reasons why we MUST involve family in our businesses.

1.       EASY START UP: The fastest way to start any business is taking full advantage of the family line. Over time many great entrepreneurs started multinational organizations by using their Spouses, brothers, sisters, and children as Receptionist, Cleaners, Marketers and many more.   Even in the church business, a Pastor wife can be the Women’s Leader, Assistant Pastor, Treasurer, Choir Leader and even the Sanitation Unit Leader. All these can be possible because most times the love shared by family makes it easier for them to believe and support your dream without any direct plan for a reward.  Many people support or help businesses only when they have seen it thriving, however family is always ready to help… As long as they have faith in you.

2.       ENHANCES UNITY:  In dealing with humans, there is a tendency for people to err and offend each other, however when Family is involved in a particular business, their bond becomes stronger. Minor challenges are forgiven and forgotten all because of the growth and success of the business. The facts that they both have something bigger than their ego, or pride to protect will make them settle disputes quickly and amicably.

3.       INCREASES LOVE: There is nothing as pleasant as working with/for someone you love. Working with a family breeds an atmosphere of love and where there is love there is higher possibility for higher productivity. The working atmosphere most times affects the productivity of the workers. A work environment filled with hate and bitterness can never produce good results.  

4.       CONTINUITY: What will be a man’s gain if he spends years building a business empire without a sure plan for continuity? The best people to live a dream are does closet to the owner of the dream. To ensure that your sweat and labor is not tarnished or forgotten, it is important that family is involved in the business you are into. With family, you can be assured that the founding Principles, Traditions and Goals of the business would be upheld. This is way better than having a stranger coming to reconstruct a foundation you have already laid.

5.       SECURITY: in today’s business world, TRUST is very scarce if not absent. Many people cannot be trusted; however, its remains safer to trust Family than an outsider. Sometimes in the course of running our businesses we may be tempted to delegate certain financial transaction to others. Delegating to family is less risky because you know the root of that family member; unlike an outsider that you have no clear idea of his/her past except for their CV.

Business is good, but a man with family has more wealth. To build a great generational business empire, it is important you carefully integrate your family to your business. When this done, you can be sure that your business would thrive successfully with or without your direct presence.