BizSugar.com › Strategy › 5 Common Family Business Pitfalls

What separates a successful family business like Ford or Wal-Mart from one that simply flops? While any business has the potential to succeed, those that rely on the teamwork of relatives are in some ways the most fragile, and they require strong, thoughtful guidance if they’re going to prosper. That’s why knowing which common mistakes to avoid is so important if you plan to run a business in partnership with your relatives.