Yesterday, I started
this mini series
on whether or not
we should start businesses
with family members
with a post on failure.
There are two big reasons
I started with failure
and that’s because
1) Most businesses fail.
If we don’t plan for that possibility,
we’re not being realistic.
and
2) Businesses started with family members
are MORE likely to fail.
Why?
Because family members are unlikely
to be
the best people to partner with.
To put it bluntly,
they’re not qualified
for a partnership role.
They are unlikely
to have experience
in the industry.
F*ck.
They are unlikely
to have
ANY relevant experience.
They are unlikely
to have connections
in that industry.
They are unlikely
to follow our suggestions.
They are unlikely
to be anyone
we would hire
if they were strangers.
If you wouldn’t partner
with a family member
if they were a complete stranger,
think long and hard
before partnering with them
at all.