Cooling Down Conflict in Your Family Business

Published: July 6, 2016, midnight

b"Being in business with your family can bring lots of rewards, including financial security and personal pleasure in working with people you know well and love. But it can also be the source of misunderstanding,\\xa0antagonism\\xa0and painful conflict. The show looks at common causes of conflict in family businesses and how that conflict can be resolved and even prevented.\\n\\nJoin us as we talk with\\xa0Jim Lea\\xa0, a writer,\\xa0speaker\\xa0and advisor\\xa0on\\xa0family owned and closely held business. He\\u2019s the author of\\xa0Keeping It In the Family: Successful Succession of the Family Business, a syndicated print and online family business columnist, and author of numerous articles.\\xa0Jim\\xa0advises\\xa0family owned\\xa0companies in the United States and other countries on human performance and relationships issues in management, including identifying, understanding and resolving causes of conflict. He is frequently invited to speak to trade and business groups. He\\u2019s a professor at the University of North Carolina in Chapel Hill.\\n\\nListener Assignment\\n\\nWith your business partner, sit down and discuss any one of the following questions:\\n\\n1. What really important family and business values are being affected by the conflict?\\n\\n2.\\xa0 What's the real cause of the conflict? (Be honest. Drill down past the obvious.)\\n\\n3.\\xa0 What's the cost of continuing the conflict?\\xa0Cost\\xa0to the business?\\xa0\\xa0Cost\\xa0to the family?\\xa0 Long term cost?\\n\\n4.\\xa0 What's the first step we can take toward healing and reconciliation and who's big enough and wise enough to take it?"