Bangalore: Family members working together on a business project or starting a small business is rarely seen and if seen they get along for a very short period of time. It is not easy to have a startup working with family members because if both, family and business is not dealt with utmost care it can awfully damage both of it and make life miserable.

In India we have seen some famous businesses that have split drastically and now running they are running individual businesses like the very famous Reliance group. Problems do occur when a family does business together, but to ignore such problems and to continue the business venture flawlessly it definitely needs a lot of compromise and adjustments.

Trust is Supreme

“JRD Tata handed over his wealthy business to his adopted kid – Ratan Tata”

Any business startup must be built on trust, regardless of whether it is family member or a colleague. It is difficult to continue a business if ego exists among partners, a business can be managed by two members of the same family unless both carries the same passion towards the business. Making decisions and taking up responsibilities should be vested with both and both the partners should rely up on each other.

For Instance, if it is a business run by twin brothers and one being the CEO of the company was asked to fire the other one; confidence can be seen when the CEO answers “He would step down himself, if he knew he was hindering the business.” It is this level of trust in each other that forms the foundation for a strong business partnership.