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5 Useful Tips For Doing Business With Family and Friends

Tony Orji by Tony Orji
September 2, 2017
in Uncategorized
Reading Time: 2 mins read
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Working with
family and friends might generally not be an easy, but there are ways to make it
work. However, you have to be determined and ready to put in the required effort
to make it work. 

Jumia Travel shares 5 useful tips for working with family and
friends.

Ask Yourself This Question  
Before bringing a family
or friend on board, you need to first ask yourself, “If your friend/family
wasn’t your friend/family, would you think he/she was the best candidate for the
job?”. If you must bring your friend or family aboard your business, you need to
be totally sure it is worth it because it’s not going to be easy, so it has to
at least be worth it.

Be Distinctive 
Be distinctive about work
and family, keep business discussions out of family and personal gatherings. If
you must talk about work, let it be to just joke around and share funny work
stories, it shouldn’t be anything too sensitive or critical.

Don’t
Take Contracts Lightly 

Contracts are particularly crucial when working
with family and friends, because where sentiments might weaken your stand, a
contract will help to give strength to it. If there is a ‘push-back’ while
working with family or friends, a legally binding contract can easily help to
bring everyone back on the same page. It’s best to have a contract to guide all
critical and sensitive parts of the business (like the salary aspect etc.), so
everything is well spelt out for everyone to understand without
misinterpretation or being sentimental about it.

Properly and Clearly
Define Everyone’s Roles 

This is very important when working with family
and friends. It is important that everyone knows their place in the business.
Too often, people jump into a business without clearly defining the roles and
extent of authority of each employee, especially with family businesses. Clearly
and properly defining everyone’s roles in the business helps to keep employees
from stepping on each other’s toes, prevents avoidable problems and keeps
everyone focused on what they need to do.

Try Reworking Your Office
Space 

This can be especially helpful if you’re working with a spouse.
Try to mix things up within the workplace and find ways to work remotely, so
you’re not all in each other’s faces all the time. This can help to reduce some
of the friction that might occasionally arise from working with family and
friends.

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About Dr. Anthony Orji

Dr Anthony Orji

Senior Lecturer, Economics, UNN

Dr Anthony Orji is a Ph.D holder in Economics and a lecturer at the Department of Economics, University of Nigeria Nsukka.

He obtained his B.Sc, Msc and Ph.D Degrees from the University of Nigeria, Nsukka and a Post Graduate Diploma in Sustainable Local Economic Development (SLED) from Erasmus University, Rotterdam Netherlands.

Dr Anthony Orji

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