3 Rules for Doing Business with Friends and Family

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  • Опубліковано 20 гру 2024

КОМЕНТАРІ • 48

  • @AlexCharfen
    @AlexCharfen  5 років тому +1

    SHARE THIS VIDEO WITH YOUR TRIBE TO GIVE THEM AN INSTANT BOOST OF MOMENTUM!

  • @phillabadboy05j26
    @phillabadboy05j26 3 роки тому +35

    Video starts @ 2:00

  • @wendirivera7763
    @wendirivera7763 2 роки тому +3

    I’ve watched about 15 videos today and thiisssss is the firsttt one to talk positive about it! They all say it’s not worth it not gonna work it will fall apart omg!

  • @dorisbrian5505
    @dorisbrian5505 Рік тому +1

    Exactly what I was looking for.. Thanks

  • @x.ayannafox4878
    @x.ayannafox4878 Рік тому

    Great video, thank you sir! ✅

  • @freedomfinalfrontier5878
    @freedomfinalfrontier5878 2 роки тому +1

    To raise professional service invoices to your friend or friends is one of the hardest bridges in business I found that needs to be crossed. In the end if there are costs and time spent on doing your friends job and it stops you from earning normal income then would unreasonable not to raise fees.

  • @israelrivera4498
    @israelrivera4498 3 роки тому +12

    Surprised there aren’t more videos like this on UA-cam and this isn’t viewed more. Thanks for the content.

  • @dinocool6392
    @dinocool6392 3 роки тому +1

    Thank you this might save a friendship

  • @shavavasquez5243
    @shavavasquez5243 2 роки тому

    Thanks for the video Had a lot a questions answered and gave me lots of information thanks again needed the help 🙏🏼

  • @PierceVaughn
    @PierceVaughn 3 роки тому

    Great advice! Right on point.

  • @ednasemiti6374
    @ednasemiti6374 4 роки тому

    Great advice

  • @loudnoises4627
    @loudnoises4627 3 роки тому +2

    I think what you’re selling us is already available for free UA-cam. I have to pay for a business attorney regardless. What would I be buying your course for other than for piece of mind?

  • @Relatable-owl
    @Relatable-owl Рік тому

    Video started playing when my phone was locked and I thought Steve-O was giving business advice

    • @AlexCharfen
      @AlexCharfen  Рік тому

      I have been told I have a distinctive voice but I have not heard that before!

  • @demetriustalton7394
    @demetriustalton7394 3 роки тому +3

    Great advice thank you

  • @abdulmateenmaher6956
    @abdulmateenmaher6956 3 роки тому

    Very informative

  • @focuspoultry8687
    @focuspoultry8687 11 місяців тому

    We are a family of 9 people, brothers and sisters. We are planning to put money together to start a business. Do you think I have to include everyone names on the LLC or just it under 2 or 3 people's names? Can you share your thoughts with me, ok n that?

    • @AlexCharfen
      @AlexCharfen  11 місяців тому

      I am not an expert on legal structure and every situation is different, so I will answer this from a high level. Follow the instructions in this video if you can. Get hyper clear on who is responsible for what. Whoever it makes sense to own the responsibility of having their name on the LLC, usually they will be the ones with the most liability in the venture. Document everyone’s responsibilities and make sure everyone is clear on who is doing what. A simple Google document with a list of names and responsibilities is all you need in most cases right now and it is certainly better than nothing at all.
      Hope this helps!

  • @margieduranko3407
    @margieduranko3407 3 роки тому

    4:22

  • @cjpark7868
    @cjpark7868 4 роки тому

    very good advice

  • @Mexicotravelltd.
    @Mexicotravelltd. 2 роки тому

    Really long intro but in the middle is really beneficial

    • @AlexCharfen
      @AlexCharfen  Рік тому

      Thank you - will work on shortening the intro on videos in the future.

  • @evelic
    @evelic Рік тому +1

    What about a family or friend that approach you with a business idea, but hasnt done anything tangible about developing that idea?

    • @AlexCharfen
      @AlexCharfen  Рік тому +1

      Proceed with caution. Ideas are free, and execution is everything.

  • @theeducator1113
    @theeducator1113 2 роки тому

    Bro but i tension about income it'll half between me and my friend so what to do

    • @AlexCharfen
      @AlexCharfen  Рік тому

      The only reason you should work together is if you can do more together than separate. If so there should be more income to divide.

  • @arianarodriguez225
    @arianarodriguez225 3 роки тому

    I also like having family with friends like Enedia and Maria Paula best friends in family

  • @Santosh-iw2fr
    @Santosh-iw2fr 3 роки тому

    What about profit sharing?

    • @AlexCharfen
      @AlexCharfen  2 роки тому

      Profit-sharing is a great way to create investment in the outcomes of the business.

  • @lamamohammadal_salami1003
    @lamamohammadal_salami1003 2 роки тому

    I have started a business with a friend and we have done everything wrong now I have left the business

    • @AlexCharfen
      @AlexCharfen  2 роки тому

      Sorry to hear that. It isn't easy to work with friends and family but if you allow process to lead it does get easier and can be rewarding.

  • @New-York-Guy-90.
    @New-York-Guy-90. 3 роки тому +1

    Best not to do business with family and or friends....
    My dad made an investment with his stepsister way back in 2007 that went south (old sayin) and he is still mad at her and before that they were close they did not use the term step the referred each other as actual siblings and she loved him more than her own full brother

    • @JR-jn9mk
      @JR-jn9mk 3 роки тому +1

      then u were born :)

    • @nkhulk65
      @nkhulk65 2 роки тому

      You've posted this exact comment on several videos. We get it..

  • @adanrenteria3668
    @adanrenteria3668 2 роки тому +2

    First of all. If you know your family member, you know if he or she is going to cut the mustered or not🤷🏻‍♂️

    • @AlexCharfen
      @AlexCharfen  2 роки тому +1

      For the most part. But you also learn a lot more about a person when you are in a working relationship with them. That is why I made this video.

  • @ButterCookie1984
    @ButterCookie1984 4 роки тому +3

    No free work!!

  • @sarahtamale8109
    @sarahtamale8109 3 роки тому

    I missed this.i wrked with my ex last year,gave the cash and he brought the idea finally he stole all the money coz we did write

  • @FushigiMigi
    @FushigiMigi 3 роки тому

    This is common sense stuff. What we need to know is tax law.

    • @AlexCharfen
      @AlexCharfen  2 роки тому

      I'm not a tax lawyer. I am a business owner and entrepreneur.

  • @tebogomokoena3606
    @tebogomokoena3606 2 роки тому +2

    Great advice