Contrary to popular opinion, doing business with family is a good thing. Here’s why you shouldn’t avoid it. (I have been in business with my dad for 10+ years)
Most people avoid doing business with family because of how bad it can go. They don’t want conflict to blow up their relationship. I agree that conflict happens in business – but this shouldn’t scare us away from working with family and here is why:
• Going through difficulty WITH family makes you both stronger
• You are forced to prioritize which is more important, your relationship with your family member or the business. Sometimes these two concepts align, but other times they conflict. The implication is to choose family.
I want you to KEEP your marriage when you succeed. I want you to have a STRONGER relationship with your parent when you succeed.
• No more sacrificing family to succeed.
• We need more families that teach their kids how to grow and steward wealth. Including them in your process will do this.
• Your dream of building something should be in the context of stewarding that something through your kids long after you are gone.
• We need healthy, wealthy families. Not damaged, hurt, and immature, rich families.
• Business is a refining process. It is better to grow together than to get shaken up beat up and spit out stronger on the other end, but surrounded by people that haven’t grown with you.
So go out there and fight the fight, if you have family that is wired the right way, bring them along for the ride with you! You’ll be challenged together, but if you prioritize your relationship over profits, in the end, you’ll have a stronger family to share in your success.
