Family businesses have increased in the country, having a company of this type brings benefits such as job stability, greater competitiveness for the members, however some have not managed to be successful due to many factors among them that do not know strategies for their project to prosper. .
In this sense, if you are thinking of starting a business with your family, here are some tips to help you achieve your goals and stand out in the market.
Make a protocol for resolving conflicts. Photo: Pixabay
1. Establish the type of business
The first thing they have to consider is to define which area their business will focus on, in this way they will identify what type of legal processes they have to do, since the different economic activities lead to different procedures.
2. Delineate the market segment
It is important to analyze the market niche, who you are going to target and what their needs are. In this way they will observe the competition they have to face, to do so they can be guided by a specialist or take a course to acquire the tools that are required.
3. Stipulate the type of Company
This is where most businesses of this type fail, it is important to consolidate as either a Limited Liability Company, a Closed Stock Company or a Limited Liability Company.
In order to establish the basic guidelines of the company when making decisions and carrying out responsibilities, it is advisable to go with an expert to guide you in this legal process.
In a family by nature each of its members play a role, with respect to the company it is important to assign the functions that each one will fulfill, in this way each member will have a legal responsibility to carry out the specific tasks.
5. Structure measures of solutions
Sometimes it can be difficult to maintain a business of this type due to disagreements that arise and family relationships have to be taken care of. Keep in mind that there will always be conflicts or nonconformities, so it is better to develop a resolution plan for this aspect.
In such a way that when there is a disagreement they can solve it efficiently and quickly, thus maintaining the objective of your business.
6. Publicize the business
It is important to publicize the products or services that your company offers, in this way they will attract more customers and in turn they will be aware of what your business offers. They can do it through social networks, this is now simple and will allow them to reach a large number of people.
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