A successful family business depends on the family’s strengths and talents. However,
Families also bring their weaknesses and personal problems to the workplace. Many families do not communicate well, and they are not good at solving problems together. These challenges often cause businesses to fail. According to Professor Randel Carlock, these problems are common. He says, “Being part of a family is very difficult. Being part of a family business is even more difficult.” Love is important in a family, but love is not enough to run a family business must achieve financial success.