Cutting Back

Repairing The Damage

The head of the insurance agency who dealt with the ire of his cousins took the initiative in repairing the relationship. "I made sure we visited during the holidays and asked them over for dinner frequently," he says. Today, four years later, the cousins are still with the firm--and the entrepreneur realizes he could have handled the situation differently.

"We should have brought my cousins into the process earlier and gotten their input before we made any decisions," says one owner. "If they had felt they were part of the solution--not just part of the problem--they might have had a better reaction."

Hilburt-Davis recommends you and the relative come to a joint decision on how (and how much) of the situation you want to explain to the extended family. Don't be surprised, though, if immediate family members take sides and reflect the emotions of their "injured" kin.

Like this article? Get this issue right now on iPad, Nook or Kindle Fire.

This article was originally published in the February 1997 print edition of Entrepreneur with the headline: Cutting Back.

Loading the player ...

The One Word That Will Help You Close More Sales

Ads by Google

Share Your Thoughts

Most Shared Stories

15 Signs You're an Entrepreneur
Richard Branson: 'There's No Shortcut or Magic Recipe to Success'
The 7 Most Powerful Women to Watch in 2014
6 Ways to Improve Your Conversations
The Most Expensive Domain Names in Internet History