Should You Start a Business with Family?

Thinking about going into business with family? It sounds great—trust, familiarity, built-in support. But what happens when money, leadership, and personal baggage come into play?

This SlideShare breaks it all down:
- Are they a talker or a doer?
- Do you share the same vision?
- Can you set boundaries between work and family?
- Who’s the boss (without ruining Sunday dinners)?
- What about finances?

Mixing business and family can be a jackpot or a disaster. Let’s make sure you get it right!

1. Should You Do
a Joint Venture
with a Family
Member?
Key Considerations Before Partnering in Business

2. Starting a business with a family member can be exciting but comes
with challenges. Before diving in, consider these key questions to
ensure a smooth partnership

3. Is the Family Member
a Talker or a Doer?
Does your family member take
action or just talk big ideas?
Business success requires
execution, not just vision.

4. Do You Share the
Same Vision?
Where do you see the business in 5,
10 years?
Misaligned goals can lead to
conflicts.

5. Can You Set Personal
& Professional
Boundaries?
Work disagreements should not
affect family relationships.
Define clear roles and expectations.

6. Who Takes the
Leadership Role?
Will leadership be equal or will one
person take charge?
Define decision-making
responsibilities early.

7. Discuss Financials
Before You Start
How much will each partner invest?
What happens if one partner wants
out?

8. Unresolved Family
Issues Can Hurt
the Business
Past disagreements can impact
business decisions.
Resolve any existing family
conflicts first.

9. Do You Value Each
Other’s Skills?
Recognize and respect each other’s
strengths.
Delegate tasks based on expertise.

10. Have You Worked
Together Before?
Past collaborations reveal strengths
and weaknesses.
Learn from previous experiences
before committing.

11. A joint venture
with family can
be successful if
01
You set clear expectations.
02
Define roles & responsibilities.
03
Respect each other’s strengths.
04
Address financial & leadership
concerns upfront

12. Thanks for Reading!