3 Rules for Doing Business with Friends and Family

Описание: Successfully building a business is an incredible experience and like everything you do in your life, it’s even better when you have family and friends involved. Succeeding side by side with the people you love and respect will give you more momentum than you ever thought possible.

What is the difference between the family and friends businesses that succeed and those that fall apart?

Following processes.

If you don’t follow the right processes when you bring friends and family onto your team it can quickly turn into a nightmare.

Grow your business. Get your life back.
∞ Alex Charfen

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Download the 40-Hour Year free training to implement these habits into your business: https://40houryear.com

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"The Five Core Functions"
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Alex Hormozi uses this exact framework in his business, and we have all seen how it has caused his business to blow up. Check out his channel!    / @alexhormozi  

There are 3 simple steps to follow when doing business with family and friends.

Step 1: Do more due diligence, not less.

In any situation working with someone, you’re going to hit bumps in the road. When you do your due diligence you’re committed and you can have confidence in the choice that you made.

Step 2: Function under clear expectations, not excitement.

I get it, it’s so much more fun to be driven by excitement, however, when the excitement dies down and it’s revealed that there’s no clarity around what’s going to happen moving forward the motivation to be in business together can dwindle.

Step 3: Everything should be in writing.

This is the step that entrepreneurs ignore the most. Protect yourself and your family member or friend. If you don’t have the specifics in writing and clearly communicated, your success as an entrepreneur goes from being assured to ambiguous.

Working with a friend or family member is a privilege and it’s incredibly rewarding. I know this firsthand. I’ve worked with my wife, Cadey, for over 15 years and we’ve followed these steps to the letter.

If you’re thinking about getting into business with a friend or family member, I encourage it. Go through the process and you’ll find an increased level of clarity and connection that will see you and your business move forward with unlimited momentum.

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With gratitude,
Alex Charfen