Ralph Daniel | Doug Burford | David Hurley | psychologist

At Burford Company Advertising, Doug Burford makes it clear that family perks start and end with hugs. "They're as dedicated as anyone. Nobody cuts them any slack. They make the same salaries that everyone else makes. You have to be very careful about that. You can't have favorites."

While there's no way to tell for sure in advance whether a family relationship will thrive or flounder in a business setting, Dr. Ralph Daniel, a California-based psychologist who specializes in family business, suggests that would-be family partners look at their personal history together.

"Each person should create a short list of all projects you've worked on together, whether it's planting a garden, building a porch, or buying a house. Annotate the list - rate it. How well do you work together? Then exchange the lists and discuss them," Daniel says. "These are the same kinds of issues that are going to come up [in business]. And they're going to become highly exaggerated and accentuated when money becomes involved."

Being clear on long-range goals is also important. If one partner wants a steady, comfortable business that will pay the family bills, while the other sees him- or herself as the next Sam Walton, there's liable to be trouble ahead. By building a graceful exit strategy into a business plan, family members who grow disenchanted can bow out without creating a rift, Daniel suggests. "What I have observed is that when a couple goes into family business together, their relationship either gets a whole lot better or a whole lot worse. It doesn't stay the same."

Says David Hurley, "The marriage has to be on a strong foundation. People have to enter a family business with all eyes open." But he adds, "If you run a successful family business, I don't think there's anything more exciting or exhilarating."