How to Run a Family Business

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•   During Conflict. Whether you are part of a husband-and-wife team or an intergenerational family, you know how to push your business partners' buttons like no other. When conflicts of an emotional or family nature arise, and don't resolve themselves quickly, consider bringing in a relationship coach, mediator, or family business counselor. An individual counselor can work on issues too personal to bring to a board of directors. And any advisor hired should be allowed – and encouraged – to meet and speak with all members of the family regarding their goals, concerns, and stresses.

Dig Deeper: In Praise of Competition in Family Businesses

Running a Family Business: Additional Resources

Never Quit: The Ups and Downs of Running a Family Business, by Donna M. Gray. Veda Communications, 2004.

The Survival Guide for Business Families, by Gerald Le Van. Routledge, 1998.

Small Business Survival Guide: Starting, Protecting, And Securing Your Business for Long-Term Success, by Clifford R. Ennico. Adams Media, 2005.

Entrepreneurial Couples - Making it Work at Work and at Home, by Kathy Marshack. Davies-Black Publishing, 1998.

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Christine Lagorio is a writer, editor, and reporter whose work has appeared in The New York Times, The Washington Post, The San Francisco Chronicle, The Village Voice, and The Believer, among other publications. She is executive editor of Inc.com. @Lagorio