Doing business by making your relatives as partners...

[Sotherefore]

Establishing a business that is profitable is what really matters to me. Anyone willing to help my business succeed are people I'll be very much interested to partner with whether a family member or not. So many things determine who I'm gonna choose.

 

[Eleanor]

I don’t think it’s a good idea to involve your your relatives in your business they can be your reason for your downfall which can affect you greatly family relations should be excluded in your business

 

[Treborika]

For me I don't prefer working with family members especially making them my business partners. This is because my family members don't tend to be more serious when dealing with the family businesses.

 

[Sotherefore]

For me I don't prefer working with family members especially making them my business partners. This is because my family members don't tend to be more serious when dealing with the family businesses.

It depends on your family member . There are some that may likely be very serious that is why sometimes you just need to be very careful when you are trying to choose a family members for a business you have established newly.

 

[Imran_Noori]

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?

Doing business with your relatives or family would be a good idea if they are well educated, experts and honest but if they are not it's better to avoid them, if not it will destroy your relationship.

 

[Good-Person]

if you are someone who is very much disciplined your relatives will be very careful with your business. You also need to determine the level of their integrity. If they have integrity they can do well in your business venture.

Yes, there are many people who get involved with their family business and they actively participate in such kind of business activity. Some people work harder and save money and start their own business after parting ways from family members.

 

[Chibson]

Yes, there are many people who get involved with their family business and they actively participate in such kind of business activity. Some people work harder and save money and start their own business after parting ways from family members.

That is true anyway. if I have the opportunity to work for a family business I'll be very passionate about it because I want my family to grow. of course someone who is business-oriented will save money and start other businesses.

 

[eenya001]

Doing business with my relatives is a no go area for me as this does not usually end well from what I have seen before, as there is always bound to be issues that would arise

 

[Popular]

Having family members as business partners can be good in the aspect of reducing cost and there will be more understanding but has a lot of setbacks too. I would prefer o handle my business personally without involving them.

 

[Syldan]

Personally I think running a business with your family members as partners is not a big deal the only thing that matters, is having a business mindset and ready to build and develop up each other ideas that will helped you reach your goals.

 

[Alisco]

You are right as I too can say that hiring your relatives as managers in your business can sometimes be very dangerous to business condition. Many cases of business failure has been reported due to relatives as workers taken properties for granted thinking that it's a family property.

 

[Agbalagbaa]

I know of firms that were run by family and it has been in existence for hundreds of years.
They established it in such a way that it is being passed on as a legacy

 

[Skysaint]

There's certainly no friendship or relationship in business and that's what everyone should understand. Whether your a friend or a relative, it doesn't matter as long as you understand the condition I stated.

 

[Syldan]

Actually making your relatives or even family members as part of your business, is not a bad idea actually though it depends on there knowledge about business and willingness to move on well with business.

 

[Bookwormlux1]

You have to make it clear to them that business is different from family doings.

This is the only way by which you get to progress in business.

 

[Shigobad20201]

There's nothing bad inntaking your relatives as business patner if you trust one another , currently I am running a farm business with my brother back in our village and i left him in charge of it ,

 

[Sincerem]

There's nothing bad inntaking your relatives as business patner if you trust one another , currently I am running a farm business with my brother back in our village and i left him in charge of it ,

I also do not see anything wrong here . what matters is your ability to manage your business and only to select trusted people to work with . Yes obviously there are so many family members that can't be trusted with business responsibilities.

 

[Shigobad20201]

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?

Each person knows what good for him or her concerning doing business with family members or relative , to some people, doing business with their relatives brings out the best in their business because they will both work for the success of the business while some family members will always focus on embezzlement .

 

[Sincerem]

Each person knows what good for him or her concerning doing business with family members or relative , to some people, doing business with their relatives brings out the best in their business because they will both work for the success of the business while some family members will always focus on embezzlement .

That is true. Normally your family members should always be the one to help you in your business and make it more progressive but some trying to embezzle you is betrayal of the first order.

 

[Good-Person]

That is true anyway. if I have the opportunity to work for a family business I'll be very passionate about it because I want my family to grow. of course someone who is business-oriented will save money and start other businesses.

There are a few of my relatives who are poor. I may employ them. However, it would never be a wise idea to completely trust them. This is quite important thing.