Family business partner.

[Kirubel]

In the world there are many big companies that are running by families, and many big branding are owned by families. But some peoples say starting business with family member is very hard, they say since you can't force them to do some things the bsuiness will fail.
What do you think the problem of owning business company with your family member?

 

[Suba]

In my opinion, family business partners are not a problem, although sometimes there will be internal conflicts, but in business you have to be professional, every person/employee or family who takes part in the business has to have a clear position description including their responsibilities. Agree on the distribution of their profits or salaries. If necessary, make legal arrangements.

 

[eLdavis]

One thing we need to understand is that what works for you might not work for the next person. There are does who are finding it hard to work with their families when it comes to business. Then there are does who do this with ease.

 

[Kirubel]

One thing we need to understand is that what works for you might not work for the next person. There are does who are finding it hard to work with their families when it comes to business. Then there are does who do this with ease.

I agree with you, their are some persons that can work with their families and they get profitable and will never have a problem, but their are some who start business with their parents and start to disagree and end up in lose of closing the business.

 

[eLdavis]

I agree with you, their are some persons that can work with their families and they get profitable and will never have a problem, but their are some who start business with their parents and start to disagree and end up in lose of closing the business.

That's right, it's mostly about understanding your family. One you know and understand who they are, you would easily know if they are the type you can work with or not.

 

[Kirubel]

That's right, it's mostly about understanding your family. One you know and understand who they are, you would easily know if they are the type you can work with or not.

True every one have different behavior and even our family members have different behaviors and since the behavior we show with our families and other person are not similar the first thing we have to do before starting business together is to understand each other .

 

[HansonU99]

In the world there are many big companies that are running by families, and many big branding are owned by families. But some peoples say starting business with family member is very hard, they say since you can't force them to do some things the bsuiness will fail.
What do you think the problem of owning business company with your family member?

It's depends on the operation of your family,if you have cordial love for each other you can definitely run any business and be successful so I think that before any family business is been operated partnerly a family meeting must be held for smooth running of that business

 

[Kirubel]

It's depends on the operation of your family,if you have cordial love for each other you can definitely run any business and be successful so I think that before any family business is been operated partnerly a family meeting must be held for smooth running of that business

Yeah we have respect and love for each other we may can run business with out family member, but the thing i really fear about running business with family members is that i don't want to get mad at them and don't want to talk them with anger and madness.

 

[Augusta]

Yeah a lot of things can go wrong with a family member partnership business but I think it is good for one to always put everything on black and white as an agreement.

 

[Suba]

Currently, many family business partners are growing rapidly and becoming big companies such as Walmart, BMW, Ford, Estée Lauder etc. These companies have been developed and operated in a modern way, and the family is the majority shareholder,