Should You Hire Family or Strangers for Your Business?
The decision to hire family or strangers can significantly impact the success of any business. It is not a straightforward decision and the answer often depends on personal preferences and the specific needs of the company.
The Argument Against Hiring Family Members
Personally, I would never hire a family member. Being the youngest in my family, I have encountered situations where family dynamics can hinder professional performance. Here, it is important to acknowledge that family ties can be complex and can sometimes impede the professional growth and expectations of a business environment.
A stranger who is qualified for the role is a much better choice. They can be trained more easily to fit the specific needs of the business. Additionally, someone you do not know personally is more likely to approach the business with a professional attitude, valuing the enterprise’s success and putting in the necessary effort.
The Benefits of Hiring Family Members
Despite the potential drawbacks, there are advantages to hiring family members. They can be hired for less than their market value, and the pre-existing relationship can foster trust and loyalty. However, this benefit can quickly turn into a disadvantage if the hired family member lacks the necessary skills or experience for the job.
The Right Approach: Hiring the Right Person
The key to making the right hiring decision is finding the right person, whether family or stranger, who fits the specific needs of your business at a given stage. Business ownership and management are entirely different from familial roles, and one should not underestimate the importance of this distinction.
When a business operates as an income replacement business, the focus is on basic income continuity. In such a scenario, hiring a family member or a stranger with the right skills might be the best option. A part-time warm body or a rotating set of family members can help cover the time when you are not available.
However, if your company is a high potential venture with the potential for scaling, a strategic team of partners and employees is necessary. At the early stages, finding a well-matched partner is critical. This partner must complement your skill set and share your vision for the business. Simply picking a beer-drinking buddy or a family member might not be the best solution, as you might end up with people who have similar strengths and weaknesses, leading to inefficiency.
Overcoming the Fear of Hiring Strangers
The fear of hiring strangers can be overwhelming, especially for entrepreneurs who are used to surrounding themselves with familiar faces. However, there are steps you can take to overcome this fear and find the right fit for your company. Regularly attending entrepreneurial meetups can expose you to potential candidates with the right skills and qualifications.
When bringing in a new hire, it is crucial to focus on their ability to cover your weak areas or address fundamental misunderstandings. Clear agreements and written contracts can help prevent future disagreements and ensure that everyone is on the same page. This approach is equally applicable to hiring family members or long-time friends who meet the necessary objective criteria.
Conclusion
The decision to hire family or strangers depends on the specific needs and stage of your business. While family members can offer loyalty and cost savings, the potential for conflict and skill gaps necessitates a careful evaluation. Hiring the right person, regardless of their background, is the key to fostering a successful and harmonious business environment. Embrace the process and remember that the right hire can make all the difference.