Family Business Best Practices

Good business owners are always looking for the best process to get the job done with the most profit and efficiency. The best business owners look for the best practices for every aspect of their business including the relationships in the office and on the job site. Family businesses in the construction industry are very common and the best family-run contractors have the best practices for keeping their business and personal lives separated. 

Our guests, Ethan and Brooke Redden owners at Redden Concrete share their best practices for family businesses, and every business looking to be as effective as possible, how to build a healthy culture for everyone at the company and how to keep lines of communication open. 

Key Takeaways:

1. Even in a family business, there are roles that need to be respected. Even if your business is family owned and operated it is still a business first. The CEO is the CEO and President is President. If the husband is president and the wife is vice president the buck stops with the president no matter what the vice president thinks. Personal relationships cannot be allowed to muddy the waters of decision-making in the business without hurting both the business and the relationship.
2. Direct communication is key. Being direct is important to every business in order to avoid hurt feelings and secret problems that can fester and grow over time. Being direct is not a free pass to be mean, instead, it requires that all feelings are expressed and not hidden.
3. Deal with disagreements right away. If issues are left to fester it becomes harder and harder to discuss and deal with any issues that arise. When a situation is dealt with immediately historical issues are not included in the problem and the blame game is not played. Get out ahead of any major issues by staying on top of every little issue.