The Importance of Boundaries

Many of the common challenges that the families I work with are facing can be traced back in some way or another to a boundaries issues. When you work with your family the informality or lack of boundaries can be empowering, it can be what sets you apart as a family business. However, it can also be what creates the tensions that if left unchecked can lead to full blown conflict and the potential demise of the family business. I am really pleased to be joined by Melissa on this episode to discuss the importance of boundaries and provide some practical examples and steps as to how you can start to introduce more formal boundaries within your own family business.Melissa Mitchell-Blitch - Family Business Consultant and Author of In the Company of Family: How to Thrive When Business Is Personal.A former CPA, her career started at a Big 5 accounting firm. As part of the Family Wealth Planning group, she saw the challenges of family business and family wealth. The cons often overshadowed the enjoyment of working with family. She was convinced there had to be a better way, but could not find anyone who could help navigate the intersection of family, business, and wealth. Determined, she left her career in finance and earned a Master's in Psychology.In the almost two decades since, Melissa has learned how families can thrive, even when business is personal.In the Company of Family: How to Thrive When Business Is Personal.When you work with family, business is personal. That can be a dream or a nightmare. What makes the difference? Knowing how to navigate well your differences and the multiple roles you share.When you are family, coworkers, co-owners, differences abound — opinions, values, preferences. How can you keep differences from being divisive? Through real-life case studies, In the Company of Family reveals the principles of boundaries, which will help you thrive even though business is personal. You can buy a copy of the book here for those in the US and here for everywhere else. IFB ConferenceAlthough we live in times of incredibly rapid change and uncertainty, one thing remains true: there’s power in people coming together. So, join me and the IFB on 10 June 2021 to explore a broad range of topics linked to the theme of 'Destination: Future'You can buy tickets here. Work With Russ If what I have spoken about in the show resonates and you want to discuss how I can help you and your family business drop me an email: [email protected] or head over to www.familybusinesspartnership.com Sign up to the Newsletter You can get podcasts, videos and blogs delivered directly to your inbox by signing up to the newsletter. Head over to www.fambizpodcast.com and sign up now.Support the show: If you are liking what I am doing and would like to show your support, I have created a page on my website that allows you to do that. www.fambizpodcast.com/support