Whether you are the head of the family or the head of the business, you need management skills. However, managing a family differs significantly from managing a business. Business management focuses on profits, whereas managing a family revolves around love and responsibility. When you invest in the family, such as healthcare, education of kids, home, etc. these investments are not based on expected returns. However, your experience with running a family will also work with running a business. You can treat your staff like a family and work towards common goals.
Is Managing a Business Same as Managing a Family
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You're so right in your descriptions regarding the two terms managing a business and managing a family however, a family that is not cared and developed in trust there's a chance that it could fall like a business. Both must be proportionate to achieve business gain and in a family love, trust and prosperity.
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True indeed, whether you are running a family or a business, you need to establish a trustworthy relationship, when there is no trust, it is very likely that your business or family will disintegrate.
ln my opinion l would say that managing a business is different to the management of a family. There are so much commitments and hardwork in the keeping of things together in line on the business than on the family management.
That is right, trust is a very important factor to thrive in business and a family. It is so annoying to know that someone in the family lacks trust in us the same way in business.
I think managing a family vs management a business is very different. Managing a business requires you to focus on profits, have rational thinking. Running a family is about love and responsibility. That said, in both situations, you need to manage your finance well.
You can sack employees if they do not perform well but when it comes to family you have to bear it all. Managing a family at times could be quite suffocating
You just took this out of my mouth. You are stuck with your family for life. But with both, man management skills are very vital and necessary.
If your wife is not giving you the desired attributes that you want, you can decide to divorce her. Same way you can close down a business that is not working out for you.
