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Mixing money and family/friends sounds like it will end horribly. What happens when you don't break even and you need to fire people?
by aisengard 8y ago
Mixing money and family/friends sounds like it will end horribly. What happens when you don't break even and you need to fire people?
- toomuchtodo 8y agoI provide good references, connections to other employers, and generous severance to help soften the landing. I have done this before at a business in my early 20s during M&A events. All employment is temporary. Remember, my goal is to operate a business to spend time with those whose company I enjoy, not to be ridiculously successful.
- aisengard 8y agoYou've done this before with friends and family?
- toomuchtodo 8y agoI have hired and fired family before, yes. The example I mentioned was not that case though, although it was where I learned how to treat someone humanely when letting them go (through a manager who turned out to be the best manager [and eventually business partner] I’ve ever had).
- LiterallyDoge 8y agoI would say, just brief them at the start "I might fire you tomorrow, go in expecting that, we'll set you up something else if I do. Don't rely on this." Kind of like the way you lend money to friends. That said, you probably shouldn't lend money to friends.
- ams6110 8y agoYou shouldn't really even do business with friends.
- antisthenes 8y agoNot sure why you're being downvoted. I like your approach. If you can give some of your less fortunate friends/family a job and break even at the same time, it sounds like a win-win for everyone. Certainly if they are currently unemployed.
- LiterallyDoge 8y agoThanks. Exactly my thoughts.
- eeZah7Ux 8y agoYou connect to people in other departments, not direct managers/employees.