Doing business by making your relatives as partners...

[Claraviolet]

I don't think it's a good idea to do business with your relatives unless you trust them implicitly in anything and everything. Or else it could lead to a messy situation and you wouldn't be able to do what you want with your business.

Recently we hired people( distant relatives) for the maintenance of our property. Now, we are not able to question them, when they are slacking off. They keep saying that, they are working really hard even when it's clear that.... it's not the case.

We really thought supporting and hiring people we know, would make our job easier but we regret it now. So, doing a business with your relatives or hiring your relatives, is not at all a good idea, unless you know them very well. Do you guys feel the same as well?

 

[glitch]

I would rather not work with family. I have never liked the idea of mixing family with business unless it was a partnership and even then it comes at a big risk. I know a lot of businesses hire their family or have them work for the business but things can become messy real fast.

 

[Grant]

Never mix work and your personal life if you can. Hiring family may sound nice and all, but it's never fun to have to fire a family member, or have a word about their performance and so on. I hire whoever is best for the job. I would consider hiring a family member only if they are the best person for the job.

 

[Smiles20]

If you believe that you have the right education and skill to drive the business forward then this is actually something to do especially as you have already formed a personal relationship with them.

 

[Amanda]

This is a good thing to do if you think you have the education and expertise to advance the company, especially since you already have a personal connection with them.

 

[Lynaia]

I believe i won't have total control over my relatives or families if i make them my partner. I don't really like the idea and i always try to avoid falling into such situation

 

[Laurentta]

Doing a job with relatives could have effects on the job. One might have to put up with their wrong attitudes towards the work because one doesn't want to hurt their feelings.

 

[Syldan]

Actually I think people have different way of thinking and business mindset. I think if your relatives has a very good business mindset, I think it's cool to run business with them.

 

[Claraviolet]

Never mix work and your personal life if you can. Hiring family may sound nice and all, but it's never fun to have to fire a family member, or have a word about their performance and so on. I hire whoever is best for the job. I would consider hiring a family member only if they are the best person for the job.

I agree. Others would try to pitch in for their support and that would never ever be a pleasant conversation or situation. It's better to hire someone else rather than family. However, most of the people I know prefer to hire family members.

From what I have observed, when it comes to money, there will always be some misunderstandings even among your loved ones. They will try to judge you based on your income. If you earn a lot, they would expect you to give it to them(or else you will be called stingy).

If you earn less, then they expect you to work harder and be like other people who earn a lot.

So, there is no such thing as living happily with what you have, in real life.

 

[GIFTMICHAEL]

I don't think it's a good idea to do business with your relatives unless you trust them implicitly in anything and everything. Or else it could lead to a messy situation and you wouldn't be able to do what you want with your business.

Recently we hired people( distant relatives) for the maintenance of our property. Now, we are not able to question them, when they are slacking off. They keep saying that, they are working really hard even when it's clear that.... it's not the case.

We really thought supporting and hiring people we know, would make our job easier but we regret it now. So, doing a business with your relatives or hiring your relatives, is not at all a good idea, unless you know them very well. Do you guys feel the same as well?

You are right it's not a good idea to work with your relatives because that would be great lose for you later and you wouldn't be able to ask strictly anything about that what the have done. Relatives always have jealousy nature so they don't work hard for us to promote our business at good cost.

 

[Claraviolet]

You are right it's not a good idea to work with your relatives because that would be great lose for you later and you wouldn't be able to ask strictly anything about that what the have done. Relatives always have jealousy nature so they don't work hard for us to promote our business at good cost.

Yes. Sometimes if it's just money, probably we can find a way to earn it back(as long as it's not too much that is) but hiring relatives, would break your relations. It's not worth it.

I know many families that broke up completely thanks to loses in their family businesses. I don't get why they want to put blame on someone(one person), when they are dealing with family business in the first place.

Can just one person lead to bankruptcy of an entire business? I don't think that's possible unless we are referring to small businesses. Also, you are right about jealous relatives. The same old story in every family I suppose. I would rather hire someone who is just good at their job rather than someone just because they are family.

 

[Chibson]

there is actually nothing wrong in having your relatives as your business partners as long as they have enough knowledge of how the business works. There are some family members who has run successful businesses before.

 

[Alisco]

Doing a business with relatives comes with two results,it's either you end up scattering your business and relationship or your business to grow exponentially and prosper. All are dependent on how much more you know yourselfs and how you tackle issues

 

[Mohammed Rashid]

Doing business with relatives has two outcomes: either you scatter your business and relationships or your business grows tremendously and prospers. Everything is contingent on how well you know yourself and how you deal with problems.

 

[Chibson]

Doing business with relatives has two outcomes: either you scatter your business and relationships or your business grows tremendously and prospers. Everything is contingent on how well you know yourself and how you deal with problems.

Yeah, I think before you start a business with your relatives you have to study the kind of people they are. If they're some kind of cool-headed are ready to learn then you can go ahead.

 

[HayKay]

If I ever make my relatives business partners, I'll make sure they're silent partners else I might just not make them or respectfully opt out. I've discovered family most times always want preferential treatments or not follow the rules.

 

[GoldenLady]

Never mix work and your personal life if you can. Hiring family may sound nice and all, but it's never fun to have to fire a family member, or have a word about their performance and so on. I hire whoever is best for the job. I would consider hiring a family member only if they are the best person for the job.

It puts a strain on personal relationships but some people still do it. I've not been paid because the GED of human resources is a close relation of the business owner and they have issues with each other concerning payment method.

 

[Good-Person]

I don't think it's a good idea to do business with your relatives unless you trust them implicitly in anything and everything. Or else it could lead to a messy situation and you wouldn't be able to do what you want with your business.

Recently we hired people( distant relatives) for the maintenance of our property. Now, we are not able to question them, when they are slacking off. They keep saying that, they are working really hard even when it's clear that.... it's not the case.

We really thought supporting and hiring people we know, would make our job easier but we regret it now. So, doing a business with your relatives or hiring your relatives, is not at all a good idea, unless you know them very well. Do you guys feel the same as well?

I do not make my relatives as my partners because I do not want to make them as my partners at all. Finance and business is my personal matter and I would not like to see my personal information getting leaked out in my family.

 

[Billy]

It puts a strain on personal relationships but some people still do it. I've not been paid because the GED of human resources is a close relation of the business owner and they have issues with each other concerning payment method.

True that! To me, it's not just about the business itself—it's about the family relationship that you're entering into. It's important to be honest with yourself and others when considering whether or not you want to start a business with your relatives as partners. If you feel like you can make it work, then go for it! But if there are problems in your family that have been lingering for years, then you might want to consider keeping your business separate from your personal life.

If both parties are willing to put in the work required for success, then it's possible to build a great business together. Having each other's backs will help keep everything running smoothly and allow you both to grow as individuals at the same time.

 

[Rolly_blen]

I don't think it's a good idea to do business with your relatives unless you trust them implicitly in anything and everything. Or else it could lead to a messy situation and you wouldn't be able to do what you want with your business.

Recently we hired people( distant relatives) for the maintenance of our property. Now, we are not able to question them, when they are slacking off. They keep saying that, they are working really hard even when it's clear that.... it's not the case.

We really thought supporting and hiring people we know, would make our job easier but we regret it now. So, doing a business with your relatives or hiring your relatives, is not at all a good idea, unless you know them very well. Do you guys feel the same as well?

Working with family may have an adverse impact on the company. Seeing as a person does not wish to damage a relative's emotions, one will have to learn to cope with their negative perceptions regarding employment.