Navigating the complexities of family and business can be challenging, but in this enlightening conversation, we unpack the key differences between a family's value system and a business's value system, and why it's essential to maintain a clear distinction between the two. We share a cautionary tale of a business owner who had to make the tough decision to let their family members go and the impact it had on their relationships. Plus, we discuss why treating employees like a professional sports team is crucial and why it can be damaging to become friends with employees.
We also delve into the power of having a mastermind and how it can propel your business growth. Learn the hard truth that employees are not family, and why surrounding yourself with other business owners in your network is crucial for success. We pose the thought-provoking question of who the five people you regularly hang out with are, and why it's essential to have someone in your network who is doing better than you. Tune in to discover valuable insights that will help you strike the right balance between your family values and your business's success.
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