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Apr 10, 2018

Five tips for running a business with your sibling – and how to make it work!

Category: News
Posted by: rroan

Running a business is hard at the best of times. This can be made harder when you are running a business with family members. As today is National Sibling Day here in the UK, our founder and owner Ruth Roan has come up with five tips on how to run a successful business with your brother or sister.

1. Research – Choose something that you both love and enjoy and do your research too. Go on business startup courses together and write your business plan, involving each other in each step ensures that you both have the passion and the same goals and drivers for success. 

2. Recognise and use each other’s strengths – An older sibling could have age and experience behind them, which is extremely useful. Look at the previous industries and roles you have worked in and what you have learned along the way. Chances are the skills and knowledge offered by one sibling complements another. You will make a great team if you acknowledge this and work together.

3. Define roles and responsibilities – Having your own tasks and responsibilities will ensure there is no cross over and conflict between you. Talk openly about what tasks you do and don’t enjoy too. One of you might love tinkering about with spreadsheets and sums, while the other might hate talking on the phone. This shouldn’t become ‘just a job’ for either of you. You should have fun with it!

4. Communicate – Remember to talk to each other and make time to listen to each other’s ideas and concerns, particularly during busy periods. Being open and transparent ensures that you can air frustrations before they become too big. And you will have them. All jobs have their frustrations. This doesn’t change just because it is your own business.

5. Make time as a family – Remember you are siblings first and foremost and make a conscious effort to make time for that part of your relationship too. Keep going on your shopping or spa trips, out for family dinners or whatever you used to do. He/she is still, and will always be, your sibling.

For more business advice from Ruth, or any member of our experienced team, call 07899 847431 or email ruth@buildingbusiness.org.uk.