What To Expect When Doing Business With Family And Friends

What To Expect When Doing Business With Family And Friends. There’s no denying that being your own boss and running your own business is amazing, but in these tough economic times you can seem like a meal ticket to friends and family especially if they are unemployed. Even that passing acquaintance on Face book suddenly wants to ride on your reputation to enjoy the success you’re having. If you’re considering taking on a family member, consider the following pros and cons first.

Advantage

The primary benefit to working with friends and family is that you already know their capabilities. This cuts down on the learning curve of working with a new person, and the initial employee training has the potential to go faster because you are know what they do and do not need to learn.

Disadvantage

In a work setting, having a prior relationship with someone that you hire can elicit a multitude of responses from co-workers, especially when everyone else feels that the person in question is receiving favors simply for knowing you.

Advantage

They’re available 24 hours a day, seven days a week. They won’t shut up shop at 5 pm, they’ll probably welcome a call during holidays, and in fact they will even be there over the weekend, (most likely having a BBQ in your back garden).

Advantage

You’re available 24 hours a day, seven days a week. Have you finally managed to allocate your time? That’s about to change! Welcome back unsociable hours and the inability to switch off -ever!

Disadvantage

They’re familiar, you already have an understanding, and it can be nice seeing more of them.

Advantage

They’re familiar so they don’t take you seriously when you mention a deadline, they think you’ll understand when they need to take their dog to the vet and it’s suddenly more important than doing any work. Any other employee would not go into personal details or divulge unprofessional information when work is to be done but a family member or friend will not only play the card, they’ll expect you to care!

Pro

You can relax and be yourself.

Disadvantage

They can relax and be themselves which usually means less work, more skiving, getting little done!

Advantage

They know all about your work as they’ve been there as you’ve built the business.

Disadvantage

They have opinions on where you’re going wrong even if you’re not going wrong.

Advantage

They can confidently communicate with your clients as they know you inside out.

Disadvantage

They may think telling your clients about the strange rash you’re currently applying cream to in the bathroom is part of building customer relations.