The pros and cons of working with Mom

When I started working on this month's feature about mother-daughter business partnerships, I went looking for experts who could validate my supposition that what I was seeing happening here in Western Mass was in fact a trend. One of those experts I was privileged to speak with was Mary Cantando, CEO of the entrepreneurial Web site, The Woman's Advantage. A sought-after speaker, consultant and columnist who has contributed to such respected media as The Wall Street Journal and Fast Company Magazine as well as penning columns for Pink and Enterprising Women Magazines., Cantando had some very candid thoughts on the power and pitfalls of mother-daughter business teams. "I think it's a growing trend because I see more and more of it," Cantando told PRIME in a telephone interview from her North Carolina office early one morning. "And I think it's like any model if you have the right partners at the right place at the right time in the right industry, you've got a home run." "If not," she continued, "It will blow up in your face and you'll lose your shirt and ruin your relationship." Cantando observed that defining the roles each person will play in the business is a crucial factor in predicting the success of the venture. "You've got to be careful to step out of the mom role," Cantando advised. "From the exterior view, people may think that the daughter is in [the business] because of the mother. It's very important for the daughter to be seen as carrying her own weight." She also sees a real value in "having multiple generations working together," as happens in mother daughter teams. "I think the value is people who have [a vested interest] in the game who are coming at it from more than one generational perspective marketing, financials, etc.," she said, That, she indicated, enriches the prospects for success. And despite the pitfalls of mothers thinking they have to carry more of the load, and those who make excuses for daughters, Cantando said she sees the mother-daughter business model as a potential powerhouse for moms nixing retirement and daughters who crave the financial independence business ownership can bring. Debbie Gardner PRIME Editor What's your opinion? email me at dgardner@reminderpublications.com