As we celebrate our love for one another, Valentine’s Day felt like a heartfelt time to reflect on building a business with and around members of your family.
The permanence of family leads to many business partnerships. Some operations pass from one generation to the next. Others spawn when family members decide to start something new. Still more businesses come together as people create new family bonds and merge their work into love triangles.
It seems obvious to start something with those you love. In some cases, the convenience makes it easy. In other cases, it can become a necessity to turn the family into a team. No matter the why, transparency and trust within a family is hard to beat. This allows family members to wholeheartedly lean on one another. Such an unwavering ability to count on each other is why family businesses always have a chance.
While family businesses can thrive for generations, there are dangerous downsides as well. Not everyone who loves each other should work together. Home and work are often like night and day. The difference between the two makes each one better. Living and working with family makes it hard to separate the two. This can lead to arguments that extend far beyond the office. These inescapable emotions can damage relationships and bleed into the broader team. While you’ll spend the most time with your family, building a life together doesn’t mean you have to work on the same thing. A healthy amount of individuality allows each person to do more and space makes coming back home even sweeter.
Do you work with family? If so, share your best tips in the comments! Also, did you know Brad Feld and Amy Batchelor wrote an entire book on this, called Startup Life?
Whether you build a business together or not, family dynamics affect all entrepreneurs. The most direct impact comes from your significant other. Your co-founder in life has a huge influence on your ability to thrive as an entrepreneur. Almost like separations of power, each person can provide contrasting perspectives, honest feedback and valuable support to balance the time, financial and emotional responsibilities of life.
Co-founders in life who share authentic trust give each other stability, fewer restrictions and more opportunities. If you find the love of your life, help them be their best. Admit they are the better half and be humble enough to let them return the favor. Such motivation from inside the home fuels a deep sense of abundance. The result is a more determined mind, body and soul eager to learn from the person who knows you best. This constant support brews loving vibes that spill into your work. Two people who push each other to be better than they would have been alone is the ultimate gift.
Extra ShotTo love is to share life together,
to build special plans just for two,
to work side by side,
and then smile with pride,
as one by one, dreams all come true.The Meaning of Love – Krina Shah