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Keep it in the family.

Discussion in 'Making Money' started by theadultsplayground, Feb 4, 2009.

  1. theadultsplayground

    theadultsplayground BANNED BANNED

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    Months ago I decided I formed another LLC for my Internet Marketing ventures and after some time I finally am getting it organized to be a "real company". Recently I decided what I should do was get my family involved (my wife and two teenage girls). They always say "I know you got some money" like it grows on trees so why not show them how much work it takes.

    I explained to them that I will be pay "X" amount of money to do some tasks (e.g., updating spreadsheets, doing some reviews, creating accounts, recording greetings, managing the records, etc) as I don't want to be bothered with it and I have a whole list of things that need to be done.

    Now I could have outsourced this for possibly cheaper but hey it will definitely teach the kids the value of working hard to achieve something. Hopefully this will get them thinking outside the box as well (like me).

    Now I just started this but it seems to be going well and hopefully in a few months I will be able to set up an offical office space within my house with 4+ computers and allow them to work from home in the summer time (when school is out).

    Anyone else attempting this?
     
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  2. springer98

    springer98 Regular Member

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    Hope it works out for you. I've tried the friends and family thing and it didn't work for me.

    Unfortunately, your friends and family don't often seem to be able to respect the employee/employer relationship and soon get pissed that you're treating them like an employee and actually expect them to do work. That don't understand that it's not personal, it's just business. They grow to hate the fact that you're telling them what to do and aren't always pleased when they take it upon themselves to do whatever the f**k they feel like because, after all, they ARE your friend or family member.

    Ideally, it'd work out for anyone who tries it but, in my experience, it was a good way to screw up a relationship. I'd now rather pay someone I don't know. Makes it easier to fire them when you don't have to live with them.
     
  3. Sanitarium

    Sanitarium Regular Member

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    If your wife gets to understand your work too well you might regret it :D
    I think springer98 put it best.

    But it's definitely good to have your kids work with you so they will hopefully grow up knowing stuff takes work. Each time they ask for money you could always say, "can you do this for me first?" Of course, though, there has to be times when they get gifts outside of that.
     
  4. toyo

    toyo BANNED BANNED

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    nop, not good. ask the kids to get a job outside if you want to teach them real stuff. You don't get any professionalism with your kids, and you can't literally fire them... just keep the family out of the business.
     
  5. indexyoursite

    indexyoursite Jr. VIP Jr. VIP Premium Member

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    Me and my wife are partners in bh. I earn the money & she spends it.:)
     
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  6. Oakley

    Oakley Regular Member

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    theadultsplayground,

    How can you not try it?

    I tried twice and gotta agree with the others, It just didn't work for me.

    Second time around it caused problems with my brother-in-law.

    Good luck
     
  7. jokerLA

    jokerLA BANNED BANNED

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    i tried once partner with a friend and he wanted me to do all the work... he thou i just wanted him to share the money, some like that.. so i think partner up with friends/family who are not into BH is not a good idea.

    hahah :p
     
  8. pinkystinkymailinatorcom

    pinkystinkymailinatorcom Junior Member

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    i tried to teach my cousin but unfortunely they can speak french only :(
     
  9. theadultsplayground

    theadultsplayground BANNED BANNED

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    here is the thing. For those of you that are married or in a serious relationship (common law, civil union, whatever). What will your spouse do if something happens to you?

    No offense but if it did not work for you then you did something wrong and my guess is not setting the guidelines for separating business and personal things. For example growing up, if I did not complete my chores I did not get paid or I did not get to hang with my friends. My mother made it clear up front. A+B=C
     
  10. ptchero

    ptchero Junior Member

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    I also tried involving some of my friends , but in the end they ended up quiting after a week because it was too much work . Now after seeing that I actually made a good bunch of money they want In again ... They want the result without the effort...
     
  11. doseph

    doseph Registered Member

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    I agree about not getting into it with your friends. The problem is usually that they have already decided BEFORE they start learning what to do, that they don't "get computers", and everything is just soooo complicated, even if I show them step by step. If they viewed it as a real job, they would have just put in the effort to learn it no problem.

    The one exception would be my older brother, who is just trying to get into IM. He's intelligent, a good writer, and pretty much understands the concepts I teach him right away. We're doing a JV together, and he definitely does his share of the work, even with his school work and stuff (mathematical physics). In fact, he even comes up with a lot of ideas and suggestions! I do find having someone who can think outside the box to talk to helps pump out way better ideas.
     
    Last edited: Feb 4, 2009
  12. pantheos

    pantheos Newbie

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    Be careful with this. When everything is going good, then it can be great, but when it's going bad and you're not making enough money it can really multiply the stress.
     
  13. theadultsplayground

    theadultsplayground BANNED BANNED

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    So for those that thinks it's a bad thing, you're telling me that you could never run a business and hire employees. This is not a "We split the profits", this is a "I need these task completed and this is what I'm paying for it.
     
  14. lewi

    lewi Jr. VIP Jr. VIP Premium Member

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    My older sister (about 6 years difference i think) finished uni and then got a job as a receptionist.... But now next friday shes being fired.

    She has to pay rent etc and also of course alcohol being of a student age.
    So im paying here like $50 a day to work for me doing all the lil jobs i don't want to do... she has no clue about computers except msn and facebook and itunes. First off she is watermarking videos at about $5 a video then re-uploading.
    Hopefully it will get her by for a few weeks untill she can go back to normal boring day job life.

    Oh and she was earning only $7 an hour doing her normal job. So working for me for $50 a day and for less time is actually better than what she was earning before.

    7 hours work = $49
    3 to 5 hours working for me = $50
    Much better :p
     
  15. Jagged55

    Jagged55 Power Member

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    Nobody enters into these sort of things without the best of intentions but when money is involved it can change people (and it isn't always a greed issue). I think the idea of employing your daughters to teach them life skills and help them earn a living is an awesome lesson! Even if it fails, at least you can always say you tried. Once the spouse becomes involved though, there is a greater risk. I say just take it slowly and not jump in head first....good luck though either way!
     
  16. Mason

    Mason Registered Member

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    Getting the family involved is a good thing. I can't say the same thing about friends though. I just recently got my mother and sister involved, they now do all the telecommuting, calling businesses and whatnot. I'm simply not good at that and are certainly not a people person, but the funny thing about that is, I have 4 brothers and sisters, and all of them, including my mother, has been a telemarketer at some point. I have a family full of former telemarketers and I'm using it to my advantage. My advice would be to find out what your family members are good at and ask them if they're willing to help. I now have a legitimate business/plan, and I don't even have to pay my employees.
     
  17. Oakley

    Oakley Regular Member

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    First off, family will never consider themselves employees.
    You can try and treat family as if they were like employees,
    but they're blood. You can fire family, but it's not the same
    as firing an employee (Don't say it is, cuz it's not)

    No ones knocking you, we all think it's an admirable thing,
    but it's just tough, obviously you will find this out yourself.

    Money and family rarely mix.
     
  18. springer98

    springer98 Regular Member

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    That's a pretty broad statement and awfully presumptuous, I think.

    You asked if anyone else had attempted this. I have (more than once) and it was never a good experience for me. The first time took about 8 years of head butting and hard feelings. Subsequent times, less.

    Personally, I'm done with friends and family. Hopefully, it'll be different for you.
     
  19. albaniax

    albaniax Elite Member

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    Often people ask me how do you this and that and want to do it also.

    But I don't want to teach them, cause it would take to much time and in the end, who knows if they stay with it.


    But my cousin studied IT so I do a JV with him, maybe open a office if things works good.

    My brother is also a cracker, so sometimes I need him to crack me some things. But that's the only thing he does for me...he would also never work for me, cause he think's he knows everything better then me :D

    I'm looking also to involve my other brother into this, but don't really know how, yet. He studied Photographing. So he would do the whole media things for me.
     
  20. scoots250

    scoots250 Registered Member

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    Agree with all those who say avoid the friends and family route.
    In my "normal life" I have employed several friends and relatives and it always ends in tears.
    They hate the boss/employee thing and grow to resent you long term.
    Tell them to get a job independantly.they'll still learn the benefits of hard graft