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When I was in school, I did entrepreneurship as one of my course subjects. My prof said some things that still ring a bell in my head till today, and as I proceed in life, I realized that business and family are two separate entities. Blood relations and best of friends or relatives should not come into your business. It took sometime before I understand why people prefer to employ outsiders to manage their business other than putting a family member or someone close to them at the helm of their business affair
Have you ever encountered a situation where someone close is called to run a business, and at last, the business run down due to mismanagement? Well, I encountered one. Let me tell the short story
My younger brother planned a POS business and was looking for someone to oversee it. A close friend to him volunteered of which I kicked against, but because of the trust he has for him, he refused to listen. But after 2 months, the business crashed. He lost 80% of his fund. Now, what happened? Nothing
He could not arrest his friend and his money is gone. If you're starting a business or a company and you involve family members who are bad (You might not know until matters showcase) there's a likelihood of the business/company not surviving if care is not taken, because there would be little or no distinction between friendship, family or relatives
Like seriously, there are times that we might not have an option other than to involve those close to us to manage our business. It's not a bad thing though. However, if that's gonna happen, let there be principles where they would understand that business is business and relation is relation. They should understand that they must not bring blood relation into the matter when it comes to business
The difference between employing a stranger, and a family member or relatives is that it's easy to follow up with a stranger if the fund is misappropriated. For a family member or relatives, it would be difficult. That is when you would see all those old village people preaching a sermon to you that you should not take any brutal steps because he's your fathers younger sisters son
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But hey! Your money is gone and you are there looking like a Lucozade. None of these so-called families would refund the lost capital and if you take steps to get it back through violence, you will be tagged as a bad person. And come to think of it, you only helped your friend/family member, but now you are the badass
In conclusion, I'm not saying it's not good to employ close pals/ families/friends and relatives, but we must lay down solid rules that would distinguish family and business for them to understand that to before warned is to before harmed
Thanks for reading.
This is ckole the laughing gas.
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