EPISODE 27: Lessons from Family Business Leadership
Navigating the Family Business Maze
Running a family business isn't just about balancing spreadsheets and managing operations; it's about balancing relationships and managing expectations. Hi there, I'm Kim Hiebert, one half of the Mr. & Mrs. CEO duo, and today, I'm diving deep into the complexities of hiring friends and family in business.
In our latest podcast episode, Darren & I opened up about the joys and pitfalls of working with loved ones. Spoiler alert: it’s a rollercoaster! But with the right mindset and strategies, you can turn these challenges into a solid foundation for business success and familial harmony.
The Perils and Perks of Hiring Family & Friends
One of the biggest challenges in a family business is setting and managing expectations. When you bring in friends or family members, there's a fine line between personal and professional relationships. It’s easy for roles to blur, leading to misunderstandings and, sometimes… hurt feelings.
But here's the thing: hiring people you trust and who share your values can also be incredibly rewarding. They’re often more invested in the success of the business and can bring a level of commitment and loyalty that’s hard to find elsewhere.
Emotional Regulation & Self-Awareness: The Unsung Heroes
Effective leadership in a family business starts with YOU. Emotional regulation and self-awareness are critical. I've learned (often the hard way) that understanding your own emotional triggers and maintaining composure can defuse potential conflicts before they escalate.
Self-awareness also means recognizing your own biases and how they might affect your decision-making. Are you being fair? Are you holding family members to the same standards as other employees? These are tough questions, but they’re essential for maintaining a healthy work environment.
Leadership Attitudes: Shaping Team Dynamics
The way you lead sets the tone for the entire team. Your attitudes and behaviors directly influence the work culture and team dynamics. In our podcast, Darren & I discussed how important it is to foster open communication, mutual respect, and intentional relationship-building.
Leadership isn't just about giving orders; it’s about listening, understanding, and sometimes making tough calls for the greater good of the business. By demonstrating respect and dignity in your interactions, you set a standard for the entire team to follow.
Learning from Mistakes
Let’s be honest – we all make mistakes. The key is to learn from them. Darren & I shared some of our own leadership blunders in the podcast, not because we enjoy airing our dirty laundry, but because we believe in the power of learning and growth.
One of our biggest lessons? Don’t shy away from admitting when you're wrong. It’s not a sign of weakness; it’s a sign of strength and integrity. When you own up to your mistakes, you build trust and respect with your team.
Tips for Fostering Open Communication
Open communication is the cornerstone of any successful team, especially in a family business. Here are some tips we swear by:
Regular Check-ins: Schedule regular meetings to discuss both business and personal matters. It helps keep everyone on the same page and addresses issues before they become major problems.
Create a Safe Space: Encourage team members to speak freely without fear of retribution. An open-door policy can do wonders for morale and productivity.
Active Listening: Pay attention not just to what is being said, but also to how it’s being said. Body language and tone can reveal a lot about a person's true feelings.
Set Clear Boundaries: Establish clear boundaries between work and personal time. This helps prevent burnout and maintains a healthy work-life balance.
The Power of Intentional Relationship-Building
Building strong relationships within your team requires intention. It’s about more than just working together; it’s about understanding each other’s strengths, weaknesses, and motivations.
Take the time to get to know your team members on a personal level. Celebrate their successes, support them through challenges, and show genuine interest in their lives outside of work. This not only strengthens the team but also creates a more cohesive and productive work environment.
It’s Never Too Late to Learn and Grow
Whether you're just starting out or have been in the family business for years, it’s never too late to improve your leadership skills and team dynamics. Darren & I are still learning and growing every day. And that’s what makes the journey so exciting.
We’ve put together more insights and personal anecdotes in our book, “Awkward Family Dinners”. It’s a candid look at the ups and downs of family business life and packed with practical tips for navigating these unique challenges. You can grab your copy here.
Stay Connected with Mr. & Mrs. CEO
We’d love to hear your thoughts and experiences with family businesses. Connect with us on Instagram and LinkedIn, and don’t forget to subscribe to our Bubble Bath Boardroom monthly newsletter for more insights and tips.
Darren’s Instagram: @darren.hiebert
Kim’s Instagram: @kimberley.hiebert
Darren’s LinkedIn: Darren Hiebert
Kim’s LinkedIn: Kimberley Hiebert
Website: Mr. & Mrs. CEO
Running a family business is no easy feat, but with the right approach, it can be one of the most rewarding experiences. Here’s to your success in both business and family life!