Frank Enrico Andreolli Montreal businessman and community leading has had a business with his brother for over 20 years. The pair began life as construction workers and then saw business potential in it, and so they decided that they would start their very own construction company in the Canadian city. The pair have found great success thanks to their intelligence and their business acumen. If you were to ask either brother what the secret to their success has been, then they will tell you clearly that their family ties is what has catapulted them to such success. 

There is a lot said about family members who go into business, and a lot of it is untrue, let’s take a look then at some of those myths which people like to trot out. 

Splitting Up The Family 

One of the most common things which is said is that if you get into business with a family member then you run the risk of completely splitting up the family. Now there may have been one or two examples throughout history where this has happened, but the reality is that this doesn’t happen often at all. There are many families which went into business together, failed together and maintained their relationships, in fact this is more common than those who split the family. It is true that there is a risk to the family unit, but that can easily be managed with some sensible ground rules put in place. 

Harder To Make Decisions

There is a consensus among many that family members are constantly at odds with one another on business related matters. Firstly you will find that most family members are going to be on the same page with regards to what they want from the business. Secondly, because they love and support each other, family members are far more likely to put their differences aside and support one another’s ideas. To suggest that every decision will be tough to make is absurd. 

Money Problems 

Money has the power to split up anyone, be it family members or friends. To suggest however that this is something which will impact 2 family members who are in business together, more than it will two friends who are in business together, is just plain wrong. Much like any other business partners, rules are in place from the beginning, there is an agreement on how much each will be paid or how the business will operate, and that is all. 

As any family will tell you, having a business together may have its tough moments but in keeping a business in the family they are able to enjoy far more benefits than any problems which it will cause. Families can count on each other for support, forgive mistakes and they are always stronger as a unit together, with a much stronger bond than any other business partners may have. There are risks, but when properly managed, they are easily mitigated.