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The 3 key elements to setting effective boundaries in a family business or with a close colleague

Setting boundaries in a family business or with a close colleague can often feel overwhelming and helpless, especially if you avoid confrontation for the sake of "preserving your relationship." When my mom and I were working together, it often felt like we spent more time trying to get on the same page than actually working towards our goals.

We spent years going back and forth about what each of us should or shouldn't be doing before realizing that we had neglected to have a crucial conversation up front: what boundaries would look like for our working relationship.

Here are 3 key elements to consider when setting boundaries in a family business:

1) Have trust and belief in one another's abilities

The foundation of any successful partnership, especially with someone close to you, is trust. You likely already trust them on a personal level because they've already demonstrated that they have integrity and are reliable. However, it's equally, if not more, important to trust in your partner's competence and abilities - which is probably something you haven't been witness to until now.

There will be mistakes and course-correcting in the beginning, but the ultimate question to ask yourself is whether or not you're willing to endure short-term discomfort for long-term collaborative success. The alternative, of course, is temporary "peace" that leads to eventual burnout and resentment.

2) Outline and respect one another's realms of responsibility

Delineation of responsibilities helps prevent overlap and confusion, ensuring that both of you can work independently within their domains.

Results take time, so in order to prevent anxiety and tension from taking over, be sure to establish regular check-ins to discuss progress towards goals and address any challenges that arise.

These check-ins can help you both stay aligned on business objectives, adjust roles and responsibilities as needed, and ensure that you both feel informed and confident about how each of you is contributing to the business' success.

3) Have the humility to acknowledge new ideas and "let go" of your old ways

Humility in a family business involves recognizing that your way is not the only way—or necessarily the best way. It's about being open to learning from your partner and considering their methods and ideas, even if they differ significantly from your own. This openness can lead to innovative solutions and improvements in how your business operates.

This will be challenging, especially if you've been successfully operating the business a certain way for years. However, the best way to embrace this mentality is to clarify what your ultimate goals are for yourself and for your family member/business partner. If you truly want them to thrive and for your business to grow, then you'd be doing both you and them a disservice to not be open to new ideas and methods.

Click below to read the full blog article:

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Things I found helpful this week:

• This Harvard Business Review article that shares a story of how to handle the unique work/life challenges of working in a family business.
• This LinkedIn post by Alex Brogan where he outlines how to say "no" gracefully (especially if you're a people pleaser).
• This quote: "If you spend your life sparing people's feelings and feeding their vanity, you get so you can't distinguish what should be respected in them." - F. Scott Fitzgerald

I hope you found something helpful or insightful here - please reply back and let me know what topics you’d like me to cover in future issues. See you next Thursday!

-Anais

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