Unique Benefits and Some Tricky Challenges

Unique Benefits and Some Tricky Challenges

By Linda Swerling

Principal of Level II Solutions

 

Women are not only starting their own companies at record pace, they are also becoming increasingly involved at the senior management level in their own family company. While the individual dynamics of each situation is unique based on the people and industry involved, women who hold leadership roles can increase their effectiveness and protect their relationships by understanding why and how family businesses are different. The first, most important and permanent element is that key people are related to one another. Unless family members understand and are committed to preserving these relationships, the business can destroy them. Yet the business also has to function profitably. Women often use their experience in juggling activities, negotiating peaceful settlements among siblings and acknowledging different needs to help resolve conflict. More…