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4 Steps for Leading a Dynamic Family Business

Hi everyone, I hope you’re all having a fabulous day! Today we’re going to talk about how to lead a dynamic company. There are a lot of challenges in running a small business, and it can be particularly difficult to run a family-owned business at times. Business can be hard enough with people you have a solely professional relationship with, when you add in the nuances of personal relationships and family dynamics, it can be even tougher. That said, these are all challenges that can be handled successfully. You can make use of the advantages that come with being a small businesses or working with your family and lead a dynamic company.

Now by dynamic, I mean a vibrant, active, and productive company. If you want that, the biggest key is motivating yourself and those in your company. You can do that in the following 4 steps:

1) Think about what motivates you as a leader – You need to get clear about what keeps you motivated as a leader. This is absolutely essential. Throughout the many years I’ve spent working with countless small business owners, I’ve learned that financial gain is often the biggest motivator. This isn’t true in all cases, but money is usually the main reason most people start businesses to begin with. Of course, there are other common motivators as well. Some people start a business because they are so passionate about the cause or product their business focuses on that they feel compelled to devote their life to it. So, which of these things motivates you? Or perhaps it’s something else entirely. Chances are, you’re motivated by multiple things. It’s extremely important to figure out what they are.

2) Make a list of everything that motivates you – Once you figure out what motivates you, list it. Having a list of what motivates you will make it easier to put things in perspective when you start focusing on motivating others. Which leads us to our next step!

3) Find out what motivates your people – In a family-owned business, it might be easier to figure out what motivates your team, because you’ve spent your entire life with them. Even so, resist the urge to assume. Think about the different things that motivate you and have a discussion with others about what motivates them.

4) Put the answers in action – Once you have answers regarding what motivates your team, put it into action. Resist the urge to motivate them the same way you motivate yourself. You might jump to create financial rewards and bonuses, but you need to remember that, while people do like money, it’s not necessarily what motivates them the most. If you work to motivate others the way they want to be motivated, you act as a selfless leader and are bound to get great results.

Following these steps will help you master some skills that are vital to leading your small business. I suggest you give them all a try and explore the most effective ways to motivate your team. Feel free to comment and share your results! In the meantime, have a better than amazing day.