Sales, ownership, administration and production: four necessary categories in every restoration company. The smaller the company, the more likely it is that these four categories are being managed by the owner.
An important component of governance and also an excellent practice is to hold family business meetings. It is easy for families to be consumed by the day-to-day challenges of running the business, which often includes meetings that deal with the granular details of the business.
“A healthy business family is not tied up in knots with tension; the individuals have trust in each other and the future and are able to make use of each other’s abilities and knowledge”
Since the 1980’s, scholars and practitioners have made significant strides in their efforts to advance our understanding of family businesses through scientific research, consulting, professional literature, and popular books.