Businesses who are owned and/or operated by a group of family members face unique challenges. Expectations for someone who is your spouse, child, sibling or other relative may be out of line with what would be expected of an unrelated employee in the same role. Stress at work carries over into stress at home. So how do entrepreneurs who build their business around their families protect both business and familial harmony simultaneously?
A local Calgary business had been in business for 30 years producing custom furniture. Like many small businesses, it was founded by a husband and wife who had big dreams for their family. As their children grew up, the couple worked hard and provided a great life for their family. Quality workmanship and relationships had always been the main driver of their business success, but the industry had started to change. As their eldest son returned from business school, and brought with him new ideas for growth and expansion, there was tension in the family between tradition (what had always worked) and change (what was needed to survive in a new game, crowded with importers). ProVision Business Advisors helped the family bring the old and new together with a blended strategy that drove their business forward and ensured that it would continue to succeed for the next generation.