So you want to work with family and friends? Doing business with your friends takes extra effort because now there will be more than one relationship to maintain. I’ve been hiring friends in business for over 20 years and have discovered the secrets to this balancing act. So many entrepreneurs will tell you that hiring friends in business isn’t worth the trouble but I strongly disagree!
There are rules on hiring friends you must adhere to for both the friendship and business partnership to be successful. Check them out below and be sure to add your own tips on hiring friends in the comments! I’d love to read your ideas and experiences.
Hiring Friends in Business
– Ask yourself if you both work through problems and challenges in the same way. Different viewpoints can be helpful or hopeless in business and it depends on your personalities.
– Are you hiring friends in business for their skills? It’s important for you and your friend to know that they are actually needed and will be useful to your company.
– If you are in the position to have an HR employee, let them handle the salary, benefits, etc.
– Going with the above tip, get everything in writing. A legal contract with all responsibilities spelled out from the both of you will leave little room for argument in the future.
– My final rule is to give the partnership a trial run. Have your friend work for you on a temporary basis and set a date to reevaluate.
