6 tips for running a family business (without ruining Christmas)
Management Today asks family-led businesses how they work together successfully.
Over 150 years ago, husband and wife John James and Mary Ann Sainsbury opened a grocery store on London’s Drury Lane. Today Sainsbury's is Britain’s second largest supermarket, operating in more than 1,400 shops (as of March 2020), with the help of 111,900 staff.
From its establishment in 1869, the company was spearheaded by multiple generations of the Sainsbury family until 1998 when David Sainsbury retired.
While not all family-led businesses will go on to become dynasties, the pull of starting one is clear: generational wealth, working with people you love and a greater sense of commitment to each other and the business.