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When your children are old enough to understand a few basic things like math, they might have a basic grasp of what business is. Sure, they might not be able to understand concepts like supply and demand, but they’ll know that if they carry a box from the storage room to the office, they’ll get a pat on the head and a “thanks” from the big grown-ups that are manning the computers.
Of course, getting your children to ferry supplies around the office isn’t exactly the best way to get them involved in your company. Over time, your children might express interest in learning with your company or even becoming a part of it. For instance, they might offer to work in your company to build up work experience and they may even become interested in contributing on a full-time basis.
However, integrating family into your family business is never an easy task. There’s more emotional attachment which means it’s harder for you to criticize them or fire them should they be unsuitable for your business. So to help you out, we’ve put together a few useful tips that will help you in bringing your family into your business.
Let your children learn outside of your business first
Make sure your children learn how to run a business or at least become a part of one before you give them important roles. Consider resources like https://www.teachingkidsbusiness.com to help them grasp the concepts of a business before they’re old enough to be working for one. Request that they work outside of your business to learn the ropes before moving onto your business as well.
Allow them to become an intern at your company
The best way to give your family a quick entry into your company is to let them become an internet. There are some limitations to this, however. For starters, you should never be directly involved with matters that concern your family so that you don’t seem like you’re playing favorites.
Decide who you want to pass the business ownership to in the future
You also need to think about who you’ll pass the business on to when you retire or pass away. Make sure you look at services like http://eastbayattorney.com to help you find a probate lawyer that will assist in transferring your business to your chosen successor. It takes a lot of effort and time to make your will, so don’t rush this step.
Give them easier tasks to deal with first
Allow your children to focus on easier tasks first that aren’t as detrimental if failed. Don’t assign them tasks like making tea and carrying office supplies around, but don’t give them important tasks that could greatly affect the business’s outcome either. Focus on small tasks like writing up documents, entering data and so forth to test their ability to work in a team.
Whether you’re working at home or run a company in a large office, make sure you invest time, money and effort into easing your children into their roles. Handing over your business to the younger generation is a fantastic decision, but they need to be prepared or else it could go terribly wrong.