How do you get a family to become a dynamic family business network?
Would someone please write a hub about how to convince family members that if they each started to promote the other, buy or help sell each other's products, "advertise" their endeavors, tell friends on facebook... (you get the idea). My husband's brothers and sisters have multiple talents, but each of us is struggling financially. I really can't seem to get the concept across that if we each promoted the heck out of each others' work, we'd all get somewhere. I notice other cultures have this practice "down"! If you have a family that networks like this, how is that accomplished?
Well family members or friends they can join together as a team and start marketing as a team. You can create a info product together and sell it on a website.
Each member has a role to fit in your business.Before you start you need a plan and system in place.
Each member do his part of the puzzle and this will give you a leverage for your efforts.
Stefanz99, as I mentioned above, I didn't ask this ques. well. I meant promote each other's individual businesses. BUT you gave me a great idea. Giving people a title in MY company, like Marketing something or other might be a way to motivate them.
Sounds like a great idea Billie. I don't have the answer, but I hope someone has it for you.
The days of Family Management is over.You have to employ the best talent in the field you are doing business who has the qualification and good experience pay him the best salary.he wants give him the power he wants ask him to hire a best Chartered Account monitor his progress daily on sales and purchase and daily to be submitted by the Chartered Account directly to all of the family members and if you find your net profit after paying every expense increasing daily all family members can sit and enjoy the benefits provided you people do not keep your budgeted expense things will improve.A daily profit statement must be made by the Chartered Account with out fail.Lastly all of you must explore possibility of increasing the profit by diversification of your product by getting in to other areas in a small way and keep it expanding and get in to other products who will supply ready to sell products on credit and you pay as per your plan.So much free rest advise by me on cash.
I give you an example of how TATA STEEL is now a biggest enterprise in India.
Thank you so much. This is VERY informative for the family who is part of one company as I understand it. I think I'm going to post another ques. in a different way. I'm referring to promoting each other's individual businesses. Thanks and Cheers!
In India giving designation is very important motivation.Our Nationalized Banks calls even a sweeper as Assistant Manager ( House Keeping )
Family business are normally what Chinese do. It start with the parents and the parents train their children. In the future, their children will inherit this business and they have to prolong the life span of their business.They need someone whom they can trust and nothing is thicker than blood isn't it?
Children can be train and be expert in what they do because they see their parents how business is being done. From letting their daughters and sons do the cashiering and sales to becoming the manager of the family business. Also, if their children is not into management, they can study other areas of education related to their family business. For example, if the business is an adhesive glue manufacturing, the son can be a chemist for him to lead the operational side of the business.
I hope this help
China is not a free country and what they do you got to go there and see.for yourself.If you have seen you would not have advised.The days of family business is over.Look at Bill Gates and Ratan Tata
Thank you Maricamjolo. My closest childhood friend was Mary Lee, whose parents ran the Chinese Laundry across the street from us Milw. WI. I saw how that family helped each other. I've seen that in my Vietnamese students and in my Persia neighbors
Marcia, by the way, how did you get that beautiful background to your hubs? Is that in the template or your own picture? Mine is just the template and it's boring
To skgrao, thanks for your comment. I would like to inform you that I do not need to go to China to observe them. If you do not know, a lot of Chinese live in Philippines and if it's your opinion that family business are over then be it..
Marica, I just noticed that my answer to your comment a few days ago,never appeared. I lived across the street from a Chinese laundry when I was young and Mary Lee was my best friend. I admired how close that family was and how they all helped.
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