Many times
I had said that I didn’t want to do business with family and members of the
church because of stories of local LDS businessmen and my own experience. This week
I started to question that as I read about successful family business and the
advantages of doing business with family. I have learned that the key to a successful
family business is making sure that the conditions are set forth clearly,
upfront, and fairly. It is also necessary that all parties keep a long term
perspective in the business and not just try to ‘’make a quick buck’’.
As I come
close to the end of my $100 project I have started to think about the things I
learned and the things that I will do differently in the future. I just sold my
car and I’m about to cancel a cellphone data plan that I was paying for. This
will give me a little extra money available and I’m considering starting a
small business with my wife, similar to the $100 project, see how well it works
and go from there.
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