Business plan for family businesess

Business plan for family businesess

The standards for family business success aren’t only focusing on Achieving business goals but also on keeping the desirable family status. This ‘mission’ is a strategic challenge for them. As family problem may hold back business intentions, wrong move of the business may harm also the family relations. So while writing the business plan, be aware of those

unique strengths and weaknesses and act accordingly. Here are several highlights:

 

 

StrengthsWeaknesses
loyaltyhigh expectations from each other
coherenceinfluence on family relations
family values strongexposed to criticism
commitmentcommitment to employ family members
the ability to influenceresistance to change
flexibilitycomplex relationship and thus, complex decisions
respectdelegating problems

 

 

 

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