That was a quote from my Dad around 20 years ago. It's still true. I work with a lot of family. My wife and I have worked together for almost 24 years. She left a great corporate gig after our first daughter was born to work from home (way before it was cool) and became our part time bookkeeper. Now she manages our amazing Accounting Department, and I can't find a way to let her retire. The trust is irreplaceable.
My Dad and I worked together for over 20 years, before his passing in 2015. We argued, laughed, debated, strategized, and trusted each other with a level of truth that is hard, if not impossible, to replicate. He gave me space. He let me fail. I respected his experience. It worked. It worked really well.
Owning and running a family business can be extremely rewarding. It can also be hard. My rewards far outpace the hard. One of our core values comes from working with family and my own personal experience when I first started. Earn Your Way!
I have also worked with a few individuals that have become like family. They are absolutely critical to our success. They have earned their way. Bloodlines can't, and won't, supplant their efforts. Assuming something different is an entitlement nature that a family business can't survive.
In Episode 134 of the IA Forward podcast, Tonya Lied and I talk in more detail on working with family. It was a fun episode for me and it helped me realize how blessed I have been! If you currently work with family or plan to bring family into your business anytime in future, check it out, you won't regret it!