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Founder's Journal

Building Your Team #1: Should I Hire My Friend? (Classic)

Founder's Journal

Morning Brew

Entrepreneurship, Careers, Business

4.81.1K Ratings

🗓️ 27 September 2021

⏱️ 13 minutes

🧾️ Download transcript

Summary

This week we're dropping our second miniseries here on Founder's Journal called Building Your Team. We'll be bringing back some classic episodes you loved—or if you're a new listener, maybe you haven't heard before—and some new episodes you won't want to miss. Today's classic episode is about whether you should work with friends or family in business. Check out the full transcript at https://foundersjournal.morningbrew.com to learn more, and if you have any ideas for our show, email me at alex@morningbrew.com or my DMs are open @businessbarista Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What's up everyone? This is Alex Lieberman co-founder and executive chairman of Morning Brew. Welcome back to Founder's journal

0:07.8

My personal audio diary where I give you the business builder the tools you need to think better in order to build better

0:15.5

Whether that's building a business a team or a new product

0:19.9

It is time for our second ever mini-series of Founder's journal. Here's how it works

0:26.9

This week we are focused on one crucial topic in business that is important to builders founders and honestly all professionals and

0:37.3

We'll be serving you double the content to make the topic stick. That means two episodes today

0:43.6

two episodes Wednesday and two episodes Friday

0:47.4

The topic of this mini-series is building your team and today's episode is about whether you should work with friends or

0:55.9

Family in business. Let's hop into it

1:02.3

Don't do business with friends or family period end of story

1:07.1

That is the first thing I wrote down when prepping for this episode

1:11.2

It is such a visceral reaction at this point for me

1:14.8

Maybe it's because my family has always given this advice to me growing up and I trust what my family says or

1:21.9

Maybe I've simply watched and experienced too many personal relationships

1:27.0

Impacted as a result of hiring a friend or a family member and I'm now jaded

1:32.6

But it's not the case that every personal turned work relationship is doomed. There are success stories to prove it

1:38.9

You have stripe the nearly a hundred billion dollar payments company that was started by the Carlson brothers John and Patrick

1:46.7

You have event bright the publicly traded event management and ticketing platform

1:51.8

Which was started by Julia and Kevin Hartz who were fiances when founding the business and there's also another interesting

1:58.5

nuance to think about here is

2:01.8

personal turn work relationships

2:03.8

Also depend on the context in business. Is it your co-founder?

...

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