Business Starting

Starting a Business With Family or Friends

A Simple Test Before Going Into Partnership With Anyone

One dynamic technique will determine if everyone is on the same wavelength emotionally, mentally and physically, thus saving money, time and disappointments.

There is a whole range of successful businesses, many family businesses started in the 18th and 19th century and still flourishing today, so the idea can seem very appealing to start a business with family or friends.

However there is one mandatory technique that will determine if all interested parties are on the same wavelength.

Like most marriages there is the danger that one falls out of love.

So before anyone contemplates any business ventures whether family or not a simple test of compatibility would help.

A Pre-Business Technique

Offer Each Person a Blank A4 Sheet of Paper.

The way the paper is folded is not important; whichever format feels right.

Using the dominant hand used for writing, write down all the reasons why each family member wants to go into business on one side of the folded paper. This exercise needs to be as adventurous as possible.

When completed, leave the list for a few days; face down so none of the words are seen. Two or three days may be the make or break of any future business.

Skills Needed in Business

Look at the Folded Sheet of Paper.

Many are tempted to look at the old list, but this can influence the proceedings. Have everyone make a new list, exactly as earlier on the blank side of the paper.

But this time have everyone write with the opposite hand. Anyone right handed would have written the first set of reasons a few days earlier with this hand.

Now the left hand needs to be used. The reason is – writing with the less dominant hand connects to the wise, creative, intuitive and spiritual part of the brain.

The dominant hand is connected to the logical, cognitive and practical part of the brain. The truth will come from the creative wise part.

Any Future Business

Compare Both Lists.

Most people find that one or two reasons will stand out more than the others on both lists. However what most people find is that at the top of the list, the one written with the less dominant hand offers the most important reasons to go into business.

What may be near or on the bottom of the first list may now be halfway or even near the bottom on the second list. An example would be – two prospective business partners.

One had written “to be a millionaire by forty and retire” while the other had written, “to have a successful business that provides me with a family legacy to pass on.” The discrepancies are quite obvious.

The Likely Outcome in a Business Partnership

The likelihood would be no one retired at forty and the business would never be passed onto the family.

The most likely event would be that they split up after a long and hard struggle of disagreements on how the business should be run.

The one, who wanted to retire early, would be far more ruthless. The other partner would be more for service and helpfulness.

Both would be competing against each others beliefs and values, because both had entirely different reasons to be in business. Having everyone do this technique means everyone is singing from the same hymnbook.

A business is like a marriage and can suffer with the same consequences. The legalities involved can be crushing emotionally, financially, mentally and physically.

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