Setting boundaries is important, especially when running a family business! It can be hard, but it’s possible. CEO of Honey Bun and Founder of the Honey Bun Foundation, Michelle Chong is here to tell us how best to do that!
MoneyMovesJA
Episode 131- Work/life balance
Establishing boundaries is necessary in maintaining healthy work relationships, especially in family businesses.
CEO of Honey Bun and founder of the Honey Bun Foundation, Michelle Chong, says boundaries are important in her family’s business.
Chong and her husband founded Honey Bun in 1982 and their four children now play roles in the company.
Speaking with Kalilah Reynolds on MoneyMovesJA, Chong said that her family makes it a point not to discuss business when spending time together.
According to the CEO, this became more important as her children got older.
“Because when they’re young, you’re not gonna come home and talk business with your toddler. But when they got bigger, we had a few rules in the family and they were to separate the discussions at home so that you don’t have business discussions at home,” she shared.
She also said that her children also created boundaries for their relationship at work.
“They call me ‘mom’ at home but ‘Mrs. Chong at the office,” she shared.
Chong said her family also has a family constitution that governs their roles within the business.
A family constitution details the core values, vision and mission of a family business. It defines the governance structure of the family business within its roles, composition and powers.
“So, we made rules for the family in the business. One of them might be that you don’t discuss work at home, another one could be about in-laws. So when your children get older, will their wife or husband work in the business?” she explained.
“You can make rules about salaries as it relates to position, you know, who gets paid what,” she added.
“The important thing is that you’re making rules before those things happen, so that when they happen you’ve already thought about it and you’ve already discussed it,” she said.
In regards to dealing with conflicts that arise, Chong said that because her company is publicly listed they answer to a board of directors.
“Our directors are not stiff, they are very receptive to the fact that we’re family, so they will always give an ear with a gentle spirit,” she said.
She said that the directors are at times brought into conversations to provide an impartial opinion.
“Then the children will also respect the fact that they had one of the directors’ opinions on the issue and they can resolve it,” she said.
Chong also said her company has hired a personal development consultant to help her children and executives learn to resolve conflicts on their own.
“She works on personal development of our executive team so that if any of the executives are having a conflict, she’s there to resolve it,” she noted.
For the former business woman of the year, asking for help is also important in striking a good work/life balance.
Chong, whose children are all adults now, said the early days of business were very hectic and required some innovation and patience..
“Sometimes we had the playpen in the office,” she recounted to Kalilah Reynolds on MoneyMovesJa.
“They were all in different schools. It was managing four different schedules, four different uniforms, four different pick-ups and drop-offs,” she said.
She noted that her husband’s support as well as support from domestic workers were very helpful.
“My husband is a blessing, so when I forgot them (at school) he would be like ‘I’ll help’. Also we had some really good helpers who would keep the children,” she said.
She said that having additional support was necessary as there was work that needed to be done and the children also needed to be taken care of.
She acknowledged that some families might be intimidated about taking on additional help. However, she advised them to have open discussions with their employees about the role they are expected to play within the family.
“It’s very important to develop leadership skills even in your domestic staff that are taking care of your children. You have to empower them, you have to motivate them, you can’t cuss them off and go to work,” she said.
The CEO said that she has learnt that positive reinforcement is a big part of the learning process.
“Teach them what you need them to know and don’t expect them to know just because you know it; they’re not the same as you,” she added.
Overall, Chong said that entrepreneurs, especially those running family businesses should be gentle with themselves if they don’t always find the right balance.
“Be kind to yourself and mindful,” she advised.
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