Survival Tips for a Family Business
The Secret Chocolatier was recently a finalist in the Charlotte Business Journal’s Family Business Awards. It’s nice to have our family recognized. Running a family business takes tremendous energy—balancing different personalities, business goals, and family dynamics all at once. When you combine family and business, the rules of engagement change and new challenges arise.
Although we didn’t win this year, we’re thrilled that the award went to Hodges Family Farm. As supporters of the slow food movement, we’re happy to see a farming family recognized. Reflecting on our eight years in business, we wanted to share a few survival tips we’ve learned along the way.
3 Survival Tips for a Family Business
#1 Give Each Other Space
If you’re considering starting a family business, first take a week-long camping trip together. It’s not a perfect test, but it can reveal potential dynamics. In a family business, you live, work, strategize, and spend a lot of time together. Early on, The Secret Chocolatier was a tightly-knit team with little breathing room. Even with great communication, bad days happen. Giving each other space during those times is crucial. Tension can escalate quickly if everyone is on top of each other, so make sure to allow for some distance when needed.
#2 The Art of Compromise
A family business requires delicate balance. You have to navigate each other’s quirks and focus on goals bigger than any one person. In a corporate environment, if team members don’t get along, there are ways to address that. In a family business, you have to find a way to compromise. The key is to align tasks with what each person enjoys doing. If a family member doesn’t connect with their role, tasks get neglected, frustration builds, and conflicts arise.
It’s also important to let everyone feel involved in decision-making. Sometimes, allowing others to influence outcomes—whether or not it’s the best idea—boosts morale and brings the team closer. Even if an idea doesn’t work out, it can still serve as a learning experience. Running a family business is a bit like raising a child: it takes patience and cooperation.
#3 Let It Go
There will be times when compromise isn’t possible, emotions run high, and logic goes out the window. In those moments, it’s often best to just let it go. Ask yourself, “Will this matter in an hour? A day? A month? Next year?” Unless it’s something critical, it’s better to avoid potential damage to family relationships. Remember, a business may come and go, but family is forever.
If tension rises, step back. Take a break, find a distraction, and revisit the issue later with a clearer mind. This ties back to the need for space, as mentioned in Tip #1. Family businesses often involve navigating circular arguments, so knowing when to pause is key.
A Family Has to Have Lots of Love
This isn’t meant to scare you, but to prepare you. Running a family business is tough even in the best of times, and it can strain relationships if things go wrong. Patience, love, and respect for each other’s skills, boundaries, and intelligence are essential. I’m fortunate to have a family that practices this (most of the time) and am very lucky to have them as both family and business partners.