3 Rules for Doing Business with Friends and Family

[@AlexCharfen]

SHARE THIS VIDEO WITH YOUR TRIBE TO GIVE THEM AN INSTANT BOOST OF MOMENTUM!

[@phillabadboy05j26]

Video starts @ 2:00

[@peonneon5501]

thanks!

[@Tavia.spencer]

Thx

[@spiritualbridger]

Thank you 😂

[@wendirivera7763]

I’ve watched about 15 videos today and thiisssss is the firsttt one to talk positive about it! They all say it’s not worth it not gonna work it will fall apart omg!

[@israelrivera4498]

Surprised there aren’t more videos like this on KZbin and this isn’t viewed more. Thanks for the content.

[@dorisbrian5505]

Exactly what I was looking for.. Thanks

[@AlexCharfen]

My pleasure. Thanks for watching!

[@freedomfinalfrontier5878]

To raise professional service invoices to your friend or friends is one of the hardest bridges in business I found that needs to be crossed. In the end if there are costs and time spent on doing your friends job and it stops you from earning normal income then would unreasonable not to raise fees.

[@x.ayannafox4878]

Great video, thank you sir! ✅

[@AlexCharfen]

My pleasure!

[@shavavasquez5243]

Thanks for the video Had a lot a questions answered and gave me lots of information thanks again needed the help 🙏🏼

[@AlexCharfen]

My pleasure!

[@dinocool6392]

Thank you this might save a friendship

[@PierceVaughn]

Great advice! Right on point.

[@loudnoises4627]

I think what you’re selling us is already available for free KZbin. I have to pay for a business attorney regardless. What would I be buying your course for other than for piece of mind?

[@Relatable-owl]

Video started playing when my phone was locked and I thought Steve-O was giving business advice

[@AlexCharfen]

I have been told I have a distinctive voice but I have not heard that before!

[@evelic]

What about a family or friend that approach you with a business idea, but hasnt done anything tangible about developing that idea?

[@AlexCharfen]

Proceed with caution. Ideas are free, and execution is everything.

[@Mexicotravelltd.]

Really long intro but in the middle is really beneficial

[@AlexCharfen]

Thank you - will work on shortening the intro on videos in the future.

[@focuspoultry8687]

We are a family of 9 people, brothers and sisters. We are planning to put money together to start a business. Do you think I have to include everyone names on the LLC or just it under 2 or 3 people's names? Can you share your thoughts with me, ok n that?

[@AlexCharfen]

I am not an expert on legal structure and every situation is different, so I will answer this from a high level. Follow the instructions in this video if you can. Get hyper clear on who is responsible for what. Whoever it makes sense to own the responsibility of having their name on the LLC, usually they will be the ones with the most liability in the venture. Document everyone’s responsibilities and make sure everyone is clear on who is doing what. A simple Google document with a list of names and responsibilities is all you need in most cases right now and it is certainly better than nothing at all. Hope this helps!

[@ednasemiti6374]

Great advice

[@theeducator1113]

Bro but i tension about income it'll half between me and my friend so what to do

[@AlexCharfen]

The only reason you should work together is if you can do more together than separate. If so there should be more income to divide.

[@abdulmateenmaher6956]

Very informative

[@demetriustalton7394]

Great advice thank you

[@AlexCharfen]

Anytime

[@cjpark7868]

very good advice

[@Santosh-iw2fr]

What about profit sharing?

[@AlexCharfen]

Profit-sharing is a great way to create investment in the outcomes of the business.

[@arianarodriguez225]

I also like having family with friends like Enedia and Maria Paula best friends in family

[@margieduranko3407]

4:22

[@lamamohammadal_salami1003]

I have started a business with a friend and we have done everything wrong now I have left the business

[@AlexCharfen]

Sorry to hear that. It isn't easy to work with friends and family but if you allow process to lead it does get easier and can be rewarding.

[@New-York-Guy-90.]

Best not to do business with family and or friends.... My dad made an investment with his stepsister way back in 2007 that went south (old sayin) and he is still mad at her and before that they were close they did not use the term step the referred each other as actual siblings and she loved him more than her own full brother

[@JR-jn9mk]

then u were born :)

[@nkhulk65]

You've posted this exact comment on several videos. We get it..

[@adanrenteria3668]

First of all. If you know your family member, you know if he or she is going to cut the mustered or not🤷🏻‍♂️

[@AlexCharfen]

For the most part. But you also learn a lot more about a person when you are in a working relationship with them. That is why I made this video.

[@ButterCookie1984]

No free work!!

[@sarahtamale8109]

I missed this.i wrked with my ex last year,gave the cash and he brought the idea finally he stole all the money coz we did write

[@FushigiMigi]

This is common sense stuff. What we need to know is tax law.

[@AlexCharfen]

I'm not a tax lawyer. I am a business owner and entrepreneur.

[@tebogomokoena3606]

Great advice