While many companies say they’re “like a family,” yours takes the classification to the next level—you are a family. As they say, blood is thicker than water. Through thick and thin, you and your kin are steering the ship that is your family’s business legacy. Whether you run a generations-old bakery or a multi-million-dollar e-commerce corporation, many dynamics tend to repeat themselves when it’s all in the family.

Here are four tips for running a successful family business, no matter the specifics.

Ability and Skillset Override Lineage

Family ties are great. Nepotism is not. Part of building out a qualified, productive workforce is filling various positions with the best people for the job. Just like you would ask a complete stranger for a resume and conduct an interview before hiring them, make sure that family members meet the qualifications for certain positions before they get them. This will keep everyone sharp and continually developing their abilities, as they’ll have to prove their value in a competitive workforce. Continue reading →