This paper addresses the effect that ideology, defined as the meaning that the family business has for the family members (Schutz, 1970), has in the performance of the family business. Based on a seminal work of Otálora, Vilanova and Gimeno (1999) developed by Gimeno (2004), the authors’ model focuses on how ideology affects family business management and, consequently, family business performance. The model proposes three main family ideology orientations: Protective, Venture and Financial; and two management dimensions: Family Management and Business Management. Family business performance is defined according to an Economic dimension (profit growth) and a Relational dimension (family satisfaction).