The decision of whether or not to go into the family business is important to you, the family and to the business. It’s crucial that you make the decision based on what would lead to achieving your personal goals in life. It is also important that the business has leaders and employees who are truly dedicated to progress and success. There are some major questions to ask yourself when considering whether or not entering the family business is truly the right decision for everyone involved.
Deciding if it’s the best decision for you:
- Is it the appropriate stage in your life to make this commitment?
- Does entering the family business support and further your dreams?
- Are you joining the business because it’s what you want, or what others want?
- Will this hinder or support everything else you want to do in your life?
- Does the business fit with your own personal resources and are you prepared for the responsibilities of the job?
- What will you have to learn and do in the future to make this a success and are you committed to this learning?
- Are you excited about focusing your energies towards this endeavor as opposed to something else?
Deciding if you are best person for the business:
- Is there a viable opening available in the organization?
- Are the resources available at the business to invest in your personal development and career progress?
- Will you have the political support required for success?
- Are you the best fit for the business’s needs and goals, or is there someone else who could do the job better?
- Does your joining the company allow you and others in your system to progress and move on with their lives or does it hold them back?
In the end, working in a family business can be both more challenging and rewarding than seeking outside employment. You must weigh the pluses and minuses to make sure this is the best decision for you, the family and above all, the business. If your talents, education and experience dovetail with what the business needs and you can work well with your family and existing management, it will more than likely be a good decision. If not, there are plenty of other opportunities.