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How to Make the Most out of Running the Family Business

Many of our Tribute and TrulinX software users are family-owned businesses. For example, recently we have profiled the Dale Prentice Company, B.W. Rogers Company, and TFE, Inc., which are all family-run companies.

In this article from the OPEN Forum, author Shira Levine lists some tips from successful family businesses:

  • Come to terms with the idea of working with your family.
  • Build onto what has already been established.
  • Find like-minded businesses to do business with.
  • Realize size doesn’t matter – it’s how you treat people.
  • Use your ability to make decisions faster and fix mistakes quicker.
  • Keep your emotional reactions out of business discussions.

You can read the details in the complete article here.

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Tribute, Inc. is a provider of ERP business management software for distributors and system integrators in the fluid power, hose, motion control, automation, fluid handling & pump industry who provide value-added services.