Family Business Growth with Margarita Golub

Margarita Golub understands the business world on a global level. During the last seven years she has been actively helping a family business grow. Margarita Golub knows the differences between working with a global company and working with a family business, and here she gives some tips on growing a family business. While Margarita Golub knows that many of the business principles on the global scale are applicable to the family owned business, there are some major differences.

                        

One of the main differences that Margarita Golub sees when working with a family business as opposed to a national company is that it is personal. You cannot fire your mother or sister and then expect to have a peaceful family holiday meal a few days later. Margarita Golub knows that when you fire someone from a national company you can still go home and have the love and support from your family. This is why she recommends that you have very clearly-defined roles for each family member who is active in the business. Having duties spelled out in advance can help to prevent arguments over who was supposed to handle what part of a project, if it comes down to messy disagreements in the thick of one.

Margarita Golub also recommends that you have outside auditors go over all aspects of the business every year to make sure that salaries are competitive and that all employees, regardless if they are family or not are treated equally. Favoritism is many times a complaint of non-family members who are working in family-owned businesses, and is something that should be handled with care.

Margarita Golub uses her international business skills to assist a family business in Eastern European skin care to succeed. She understands that many of the same business principles that are applied on the global scale are also applicable to the family-owned business.