Family Business
Resources

Advice for Starting a Business with a Family Member

Length

1 min

AppID

VIMEO-139516548

Description

Julia and Daniela Ferreira talk about the difference between working in the business and working on the business.

Language

English
« Back to Catalogue

Transcript

A good piece of advice for someone wanting to start their own business with maybe even a family member is just to, don’t spend all your time working on the little things. So don’t spend your time working on day-to-day things at the expense of not working, and not running your business. So make sure you’re always on top of the direction and the innovation, don’t let yourself get bogged down and just you know, when you’re going to pick someone to do this with, just make sure that they share the same values as you and that -

Daniela:
Same interests, same goals of where you want the company to go and, basically like we always so, like, spend time working on your business and not in your business because that takes away from the growth of the company, if you are wanting to ... View More do everything, like we attempted to do a website, which she prepared really quickly for me, because she’s awesome, while I was at NSS in New York and then after that, it just took so long, and she was just, she was overwhelmed, so she just said this is where we need to actually get someone, a web person to take care of that, and I was like, very grateful because it was hard coming up with the creative, the names for all these different boxes, the themes, plus sourcing, so I was like, I need you here now, so we had to get some outside help.

Julia:
So bottom line, don’t spend too much time in the business at the expense of working on your business.