Does the idea of working with your spouse excite or scare you? This thought of, “maybe my spouse/significant other can help with this,” is one that goes through most business owners minds at some point. It’s a perfectly natural question, especially in today’s world where it is getting tougher and tougher to find good people.
For those unfamiliar with the term “third rail” we’ve including a link below talking about it’s definition in politics. The metaphor comes from the high-voltage third rail in some electric railway systems. Touching that third rail often results in electrocution so most folks don’t live to tell about it.
Unfortunately many folks starting out in business make the often fatal mistake of hiring family and friends first instead of last. Now this may seem counterintuitive to many folks, especially those who know us well since we usually espouse the importance of Know Like Trust when building your business. But just because it might be “easier” to start with family and friends, doesn’t mean it’s the best thing for your business.
This is part 2 of our topic on Family Business Issues for when is it time for someone to leave. We covered several questions in part 1 and tonight we addressed several more questions.
Small business can be emotional. This isn’t a good or bad thing. It’s just a thing. It can be a great thing if you can get your team emotionally connected to the business where they start to take ownership of their decisions and activities.
In This Episode Over our 15+ years as business coaches, we’ve worked with hundreds of business owners and met with […]
In This Episode The majority of our business coaching clients have some sort of family (or close friends who are […]
In This Episode Kids grow up so fast. It’s hard to believe our “kid” the show Dirty Secrets of Small […]
In This Episode Most business owners don’t start a company with a plan to exit the business and transition it […]