How to do business together with your sibling
In most of the cases when a business is inherited from the parents, there is a high possibility that we might have to work with our siblings. Some people find it hard to work with Siblings and some people find it very comfortable because they have known each other from childhood and they know how to handle each other. But as money is involved and as it is business, there will obviously be some challenges. In order to be successful, we can follow some of the things that I'm going to mention in this article to do a successful business with your siblings.
Identify the strength
It is important to identify the strengths each one has. In most of the companies now the focus is more on the strength of the associates and not on improving the weakness. When we give more weightage to strengths and focus on methods to use the strenths the output will be very good compared to focusing on the weaknesses and trying to improve them. The same applies to siblings too. There can be cases where one person can be good at something and another can be good at something. It is good to understand the strengths and run the show together with each one's strength.
Better communication
It is always good to have better communication. There shouldn't be any assumptions that this is something well known or obvious. This is not just siblings but while running a business, we should avoid making assumptions and taking things for granted. Having better communication and expressing thoughts is good for both parties.
Divide the work
Since we have already identified the strengths, it is better to divide the work and do it. There shouldn't be a second thought that if you had done a particular work, it would have been better. When the work is delegated to someone, whatever the outcome, it should be accepted as it is. Dividing the work based on each other's strengths gives a great relief.
Set boundaries
Boundaries are very important and especially when decisions are being made, it is important to set boundaries. There shouldn't be any room for assumptions here and for taking someone for granted. It is better to not get involved in decisions that are being made by each other when it is their sole responsibility. Opinions should be shared only when requested.
Encourage healthy conversations
There can be friction during some of the conversations and it can even be a tough one at times. It is highly important to cultivate enormous patience and always try to have a healthy conversation. Personal opinions and thoughts shouldn't come when conversations related to business are being made. It is always good to have conversations that are solution-oriented and avoid talking about things that have gone wrong especially pointing fingers at each other.
Get inspiration from each other
When we know the strengths of each one of us, there is a high chance that we might as well look for inspiration from each other. If one person is a procrastinator and another person is not, it is always good to learn the skill from the other. If one person keeps up time and another is always late, it is good to learn from the other and try to make it on time. These are a few things where one can get inspiration and motivation from another. Always look only for positives and get inspired.
Never hesitate to ask for help
The age shouldn't be a factor here. One person who is older shouldn't dominate the other and every opinion should be respected and pros and cons should be discussed. It is always good to approach each other at times if help is needed. We should feel very comfortable getting help from each other because it is always good to ask for help from siblings instead of asking for help from someone outside.
Support each other during failures
Nobody can be 100% successful and there can be times when things would turn difficult. In a worst-case scenario, it can even be because of a mistake by one of the siblings. Supporting each other is very important and crucial especially when there are failures. No matter whose fault it is, the focus should be on getting out of the problem soon and becoming successful again. There is no point in discussing or arguing about the failures.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Vote@balazas aHive Witness
Vote@kanibotas aHive Engine Witness
Posted Using InLeo Alpha