The subsequent frustration of association with bad people often drives entrepreneurs to associate with people who are closer to them. We can give the example of their spouse, their spouse, a brother, a sister or any other person related to the manager. Friendship, trust and respect between two partners can help the project develop, however, is it really a good idea?
Make no mistake, families are not always ideal as disputes sometimes arise at the wrong time. For example, the principle is to fix everything through a meeting with a coach. The decision which will be taken after this will be on a solid basis.
Required skills
The purpose of an association is to find people who help financially with the investment of a business project, but this gesture above all allows you to find additional skills and complement yours to be able to be successful in a project. For example, if you are proficient in finance, you need someone else to help you with marketing, legal, communications and commerce, or new technology. So it is not enough just to have trust or attachment to a person, it is necessary to take into account his skills or his experiences as well.
Benefits of investing with family members
Running a business as a family is the oldest form of collaboration, and many family companies are very prosperous these days. In fact, it is easier to work with a brother than a stranger. Even if the conflict continues, it works out more smoothly than a shareholder who doesn’t share the same blood as you. Also, in a family business, people are more motivated to work in a family business than in another business because of their feelings of belonging. So members of the family business tend to be more committed, which promotes results. With regard to management, these people are easier to lead, harmony is easier to establish and motivation is more lasting.
However, you have to be careful, as disagreements are always present and you can expect anything in the family business as well. So you have to make rules from the beginning. Consider your situation carefully, preferably using an attorney or someone familiar with the legal laws relating to business creation and joint management.
partner with your spouse
Many companies choose this form of association as well. In the craft sector, most entrepreneurs work with their spouses. This association also brings a lot of advantages, but the risk is that the problems of the couple can enter the company and vice versa. It should also be noted that the divorce rate in France is quite high.
However, if you choose the latter case, it is recommended that you opt for a single partner and designate the other spouse as an employee. This will make it easier to resolve the situation in case of conflict.
The employee spouse would then be able to choose the dismissal and receive the equivalent of half the shares in their spouse’s account.