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:
| Strengths | Weaknesses |
| loyalty | high expectations from each other |
| coherence | influence on family relations |
| family values strong | exposed to criticism |
| commitment | commitment to employ family members |
| the ability to influence | resistance to change |
| flexibility | complex relationship and thus, complex decisions |
| respect | delegating problems |
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