Working with Family and Friends: is it a good idea?

There are mixed opinions on the subject of working with Family and Friends. Some businessmen advise it against it because family and friends can become greedy and turn against you, creating unnecessary tension in both business and relationships. However, in some cultures working with family members is the norm, due to fear and distrust of outsiders. So, is working with family and friends a good idea? It’s up to you to decide. If you’re considering to turn to a family member for business partnership, have in mind the following:

  • Make sure they are trustworthy. They need to be someone with whom you can communicate openly, honestly, and that they can understand what you’re doing.
  • Separate business and love. Don’t make your pre-existing relationship with them depend on whether you succeed, fail or have to take difficult business decisions.
  • Have a healthy dose of awareness. Don’t be overly confident or distrustful about them around you.
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