“While running a business every day with family members can be rewarding, it can also be fraught with unique stresses and ambiguous roles that non-family employees and leaders never face,” says Michael A. Klein, PsyD. “Relatively little attention has been paid so far to the common mismatch between individual interests, needs and abilities and a person’s role in their family business.
For some individuals, working in a family business can be an incredible gift. For others, the family business is a prison, without any chance of parole. For those who are feeling trapped in the family business, ownership of the business is more burden than pleasure. The freedom that their family business allows is overshadowed by a lack of business process and clear structure. Having their name on the door is not worth being “on call” 24/7, or never being able to really take a vacation.
Sometimes it is easy to know that we are trapped…we feel it. However, other times…
He compares the situation to arranged marriages: “When parents decide or pressure their children, consciously or unconsciously, into working in the family business, it’s the same as telling them who they must marry—these decisions might be best for the family, but are rarely made, if ever, in the best interest of the individual.”
Read Dr. Klein’s White Paper and join The Network of Family Businesses for a virtual educational Webinar on Thursday, February 21st, 2013 at 02:30 PM EST, with Dr. Michael A. Klein.
Michael Klein, PsyD. is a business consultant and author of the book Trapped in the Family Business®. He holds a doctorate in psychology. Michael works as a consultant, facilitator, and speaker for family businesses and their advisors providing assistance in the hiring and development of leaders, managers, and employees. He has over 15 years of experience working in industries including manufacturing, insurance, healthcare, construction, financial services, education, pharmaceuticals, real estate, and entertainment. Michael is member of the American Psychological Association (APA) and the Society for Industrial and Organizational Psychology (SIOP). More information is available at: mkinsights.com and trappedinthefamilybusiness.com.
Registration to join The Network of Family Businesses and be eligible for the On-Line Educational Seminar is available at: https://www.netfamilybusiness.com
For additional information email: [email protected]