50 Common Causes of Family Business Conflict ... and how to deal with them

By Jon Kenfield. Solutionist  

• Classic cause of conflict - competing financial needs and interests.  Family needs money to live on; business needs money to ensure sustainable trading.  

• Family money is for personal use, which may be necessities, luxuries, or anything in between.  Time frames are personal and subjective.  

• Business money is to maintain competitiveness and generate profits. Time frames are commercial and objective.  

• Assuming money is a scarce resource, getting the balance right is always challenging.  Solution:    

• Clarify personal and business needs and expectations (long term perspectives make it easier to suffer short term pain).   

• Develop financial plans so everyone knows what is likely to happen and what their role is in making it happen.    

I'm interested in your comments below.  

Thank You.