956 — Running a Family-Owned Business

You don’t get to choose your family, but you can pick where you work. Learn what happens when people decide to work with their family in a business.
Slow dialog: 1:17
Explanations: 3:28
Fast dialog: 17:51
When I took over the family business three years ago, I didn’t know what I was letting myself in for. My uncle, who ran the business before me, established a clear chain of command, which I thought would eliminate infighting and bickering. I couldn’t have been more wrong.
Despite clear lines of authority, family members tend to take sides and play the blame game whenever anything goes wrong. In the end, they always look to me to resolve conflict, and I have no choice but to enter the fray.
Another big problem is the hangers-on. Those are the family members who aren’t suited for this line of work, but who need jobs. What do I do with them?
What do you do when everything falls on your shoulders? Well, I’ve developed a thick skin, and when someone inevitably reminds me that blood is thicker than water, I remind them that business is business.

Script by Dr. Lucy Tse