{"id":18704,"date":"2023-10-25T17:03:11","date_gmt":"2023-10-25T17:03:11","guid":{"rendered":"https:\/\/mysourcefunding.com\/startups\/why-a-family-business-is-not-for-everyone\/"},"modified":"2023-10-25T17:03:13","modified_gmt":"2023-10-25T17:03:13","slug":"why-a-family-business-is-not-for-everyone","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=18704","title":{"rendered":"Why A Family Business Is Not For Everyone"},"content":{"rendered":"
\n

Ray Titus is CEO of <\/em>United Franchise Group<\/em> (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. <\/em><\/p>\n

You can pick your friends but not your family. When it comes to your family business, you can\u2014and should\u2014be selective. Sometimes that means realizing it\u2019s not for you and helping your family understand that you\u2019re not rejecting them, just the job they want you to do.<\/p>\n

I\u2019ve been fortunate to lead a business that employs several members of my family, and we\u2019ve built its success on a lot of the lessons my father taught me while I was working in his company. There are a lot of positives in this. Family cares more, so they tend to work harder, and there is a high level of trust.<\/p>\n

But trust can be misplaced, and if you\u2019re not working on the right things, family ties will not just bind you\u2014they can handcuff you. That\u2019s why it\u2019s important to remember that success in business is the result of many factors, and the last name of the owners is often the least of them.<\/p>\n

<\/fbs-ad><\/p>\n

My family\u2019s success, for instance, is a combination of our great franchise owners building their businesses successfully, having a fantastic mix of brands in the United Franchise Group (UFG) portfolio and strong strategic planning. Several of our brands are led by family members, and their family background was the last reason for their promotion to top roles. They earned their way in and then earned the right to stay there with their old-school work ethic and enthusiasm for the brands they\u2019re running. If family relationships had anything to do with their success, it\u2019s because they were raised by people who taught them those core values.<\/p>\n

Still, it\u2019s not always been easy, and some challenges transcend the everyday issues that arise in any organization.<\/p>\n

When Family Gets In The Way<\/h2>\n

Being the boss\u2019 son, daughter or other relative can be more of a curse than a blessing. Not all accusations of nepotism are unfounded, and you may not even be aware that you\u2019re favoring a family member. The dream of passing on your business to a beloved child may obscure the child\u2019s real lack of qualification. Conversely, you may find it hard to see your child\u2019s adult skills; in your eyes, they\u2019re still that little boy or girl at play. When you can\u2019t let go of that image, you may also find yourself bringing personal conflicts to the office instead of leaving them at home.<\/p>\n

I have three sons and three nephews in leadership, and they all have a history together. So, the older ones look at the younger ones as if they are still 16 years old, and the younger ones look at the older ones differently as well. The way we have gotten over this is through training and communication. I meet each of them every month for an hour and we work on it.<\/p>\n

The children of founders can have their own blind spots. Some have had their eyes on the boss\u2019 chair for years, and when it\u2019s finally theirs, they try to make changes too quickly without realizing how much they have to learn first. Others are too slow to make needed changes because they\u2019re intimidated by the founder\u2019s success. And some blunder into bad decisions with an air of entitlement: \u201cMom would never fire me.\u201d<\/p>\n

Those stumbles can happen to anyone stepping into big shoes, even when not related by blood or marriage, but when you are the child, errors can be immediately dismissed with patronizing shakes of the head.<\/p>\n

Is It Time To Cut Family Ties?<\/strong><\/h2>\n

The worst mistake you can make in a family business is to ignore problems like this and keep everyone in place without addressing the issues. It\u2019s a hard thing to do, especially when the answer is to leave the business or ask the relative to go. Who wants to fire their child or parent? How do you tell your parents that the company they devoted their lives to, hoping to pass it on, is just not for you and you\u2019d rather do something else?<\/p>\n

None of our family\u2019s younger generation have worked outside UFG, although their spouses have worked in UFG and outside it with great success. They know that if they desire, they can go anywhere and I\u2019d help them. Breaking that news should be easy if both parties have a high level of communication.<\/p>\n

When it works, there\u2019s nothing like having your family around you in a business you\u2019ve built together. I get to see my children and other young relatives growing in leadership and learning how to take us into the future. I think it\u2019s worked for us because we put the business first at the office. On the other hand, recognizing when it doesn\u2019t work can only be good for your business and your family.<\/p>\n

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your friends but not your family. When it comes to your family business, you can\u2014and should\u2014be selective. Sometimes that means realizing it\u2019s not for you and helping your family […]<\/p>\n","protected":false},"author":1,"featured_media":18705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[77],"tags":[],"class_list":{"0":"post-18704","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-startups"},"yoast_head":"\nWhy A Family Business Is Not For Everyone | Brandiary<\/title>\n<meta name=\"description\" content=\"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysourcefunding.com\/?p=18704\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why A Family Business Is Not For Everyone | Brandiary\" \/>\n<meta property=\"og:description\" content=\"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mysourcefunding.com\/?p=18704\" \/>\n<meta property=\"og:site_name\" content=\"Brandiary\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-25T17:03:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-25T17:03:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/10\/1698253392_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1349\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704#article\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\"},\"headline\":\"Why A Family Business Is Not For Everyone\",\"datePublished\":\"2023-10-25T17:03:11+00:00\",\"dateModified\":\"2023-10-25T17:03:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704\"},\"wordCount\":871,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"articleSection\":[\"Startups\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=18704#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704\",\"url\":\"https:\/\/mysourcefunding.com\/?p=18704\",\"name\":\"Why A Family Business Is Not For Everyone | Brandiary\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/#website\"},\"datePublished\":\"2023-10-25T17:03:11+00:00\",\"dateModified\":\"2023-10-25T17:03:13+00:00\",\"description\":\"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your\",\"breadcrumb\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=18704\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=18704#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mysourcefunding.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why A Family Business Is Not For Everyone\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mysourcefunding.com\/#website\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"name\":\"Brandiary\",\"description\":\"Latest Business and Startup News and Updates\",\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mysourcefunding.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mysourcefunding.com\/#organization\",\"name\":\"Brandiary\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"width\":381,\"height\":100,\"caption\":\"Brandiary\"},\"image\":{\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/mysourcefunding.com\"],\"url\":\"https:\/\/mysourcefunding.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why A Family Business Is Not For Everyone | Brandiary","description":"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mysourcefunding.com\/?p=18704","og_locale":"en_US","og_type":"article","og_title":"Why A Family Business Is Not For Everyone | Brandiary","og_description":"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your","og_url":"https:\/\/mysourcefunding.com\/?p=18704","og_site_name":"Brandiary","article_published_time":"2023-10-25T17:03:11+00:00","article_modified_time":"2023-10-25T17:03:13+00:00","og_image":[{"width":1349,"height":900,"url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/10\/1698253392_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mysourcefunding.com\/?p=18704#article","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/?p=18704"},"author":{"name":"News Room","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4"},"headline":"Why A Family Business Is Not For Everyone","datePublished":"2023-10-25T17:03:11+00:00","dateModified":"2023-10-25T17:03:13+00:00","mainEntityOfPage":{"@id":"https:\/\/mysourcefunding.com\/?p=18704"},"wordCount":871,"commentCount":0,"publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"articleSection":["Startups"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mysourcefunding.com\/?p=18704#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mysourcefunding.com\/?p=18704","url":"https:\/\/mysourcefunding.com\/?p=18704","name":"Why A Family Business Is Not For Everyone | Brandiary","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/#website"},"datePublished":"2023-10-25T17:03:11+00:00","dateModified":"2023-10-25T17:03:13+00:00","description":"Ray Titus is CEO of United Franchise Group (UFG), a global leader for entrepreneurs with brands in over 1,600 locations in 60 countries. You can pick your","breadcrumb":{"@id":"https:\/\/mysourcefunding.com\/?p=18704#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mysourcefunding.com\/?p=18704"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mysourcefunding.com\/?p=18704#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mysourcefunding.com\/"},{"@type":"ListItem","position":2,"name":"Why A Family Business Is Not For Everyone"}]},{"@type":"WebSite","@id":"https:\/\/mysourcefunding.com\/#website","url":"https:\/\/mysourcefunding.com\/","name":"Brandiary","description":"Latest Business and Startup News and Updates","publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mysourcefunding.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mysourcefunding.com\/#organization","name":"Brandiary","url":"https:\/\/mysourcefunding.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","width":381,"height":100,"caption":"Brandiary"},"image":{"@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","caption":"News Room"},"sameAs":["https:\/\/mysourcefunding.com"],"url":"https:\/\/mysourcefunding.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/18704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18704"}],"version-history":[{"count":1,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/18704\/revisions"}],"predecessor-version":[{"id":18706,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/18704\/revisions\/18706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/media\/18705"}],"wp:attachment":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}