Some people think that the best way to tj3 a business is within the family. What are the advantages and disadvantages of family run business

Family is the vital element of life and folks share a strong bond, good values and support each other during tough times. Family business is a common phenomenon since olden times as the members serve each other in every aspect.

Therefore

, many people think that it is ideal to do a business within the family. I think there are both pros and cons of doing an occupation run within clans which will be discussed

further

in the essay.

First

of all, family led professions has the foremost benefits for the children of the dynasty because they do not need to move out of their places in search of jobs.

For instance

, if a father is a car dealer

then

his child can pursue that work under his guidance if he wants.

Moreover

, there is no need of training as the members have years of experience.

Thus

, we can say that it is convenient to do trading within a clan run occupation.

Second

of all, there is a lesser need of making new clients as there are permanent clients who works with the firms and trust them.

For example

, it is quite easy to work in an already established firm rather than starting a new one with a complete novel strategy.

Consequently

, there is no doubt in saying that these types of deals are successful in many cases. On the flip side, there are many drawbacks of joining the dynasty businesses.

Firstly

, there will always be a comparison among the different generations as people have their own expectations.

For instance

, a son may have a different way of dealing with the customers and sometimes they even dislike his approach.

Furthermore

, individuals have the frequent tendency to follow the same person so, they would have problems in accepting the naive approaches of the younger generations which makes clan professions difficult to pursue many a times. In conclusion, it can be stated that executing businesses within the families is the nicest way to do a business,

although

there are certain disadvantages are

also

associated with it.

Thus

, one has to make the decision of his career with logical thinking and thorough analysis of the situation.