Business & Family Matters - take my advice

If you have a good relationship with your family members and want to keep that relationship intact, don't go into business with them.

You may think that "blood is thicker than water" and that "family is family" and that nothing would ever get in the way of your relationship. Tell you what... nothing could be further from the truth.

Business is business, family is family. Keep them separate, and you will have no worries.

Advice for those that mix business and family:

If you decide to bring family into your business, hire them on as employees and don't make them partners in the business. If for some reason you decide to make family members partners in your business, always make sure that you retain a minimum of 51% ownership of your business. Keep the majority of the shares, or you may set yourself up for a world of hurt.

I speak from experience...