Like, do you even have the energy? Yup – there are some important things to consider before taking the leap. Read on for the deets.
It would be great if doing business with those closest to us was a risk-free, rewarding pleasure. Certainly sometimes a family business works out fine, but often it doesn’t. As with many things in business, it’s helpful to try to anticipate the worst-case scenario (a mildly ticked-off acquaintance, personal embarrassment, a relative who never talks to you again), and consider the reasoning, benefits and alternatives.
Go Hustle spoke to family members who are in business together and are making it work. Notepads out as they dish their secrets to success…
Meet Mariette and Carla Monteiro
Meet the owners and sisters of Skin PhD Queenswood Quarter, Mariette and Carla Monteiro.
There are a wide range of opportunities that give beauty professionals an edge over others, say the siblings. You can start with little or limited investment – think starting your own salon from the comfort of your home – or you could go big by, say, taking on a franchise and becoming a successful entrepreneur.
“Fear was our biggest challenge when we opened our franchise: Are we going to be successful in our area? Will we find the right staff to envisage where we want to take our store to?” say the sisters. But they took comfort in a piece of advice from their mom (and hero): “It’s the uncomfortable rush of adrenaline you get when you almost step in front of a car… Fear is a choice! Don’t ever hold back in life just because you feel scared,” they say.
Advice from the wise…
1/ “You never really lose until you stop trying. The words: ‘I can’t’ never accomplish anything. ‘I’ll try’, on the other hand, can perform wonders. Until you try, you don’t know what you can do.”
2/ “Those who seldom make mistakes seldom stumble upon new things. Errors are proof that you’re trying, creating, exploring and discovering. Every success story needs mistakes. We may think of mistakes as meaning you’ve done something wrong, but in truth they mean you’re doing something right. Truth – we always learn from our mistakes.”
Meet Monie and Roxie
Nicknamed Monie (Ciemone Freeme) and Roxie (Roxanne V.D Venter), these sisters are the owners of Positive Pants, a boutique e-commerce clothing company created with the intention of providing women of all ages, shapes and sizes with a diverse, feminine, comfortable range of beautiful, bright apparel that invokes a feeling of positivity and confidence.
Beyond simply selling clothes, their biz is built on a vision of creating a strong network of women who support and uplift one another – in life and in business. “We pride ourselves on promoting holistic health in women, which includes the mind, body and soul,” they say.
As small business owners, they strongly believe that you are what you consistently do. “If there is something you want to achieve in life, you have to give your absolute all to ensuring that every step you take is another step closer to fulfilling your dreams,” say the sisters.
Monie and Roxie entered a saturated market, but their drive and determination to be successful enabled them to come up with new and innovative ways to differentiate themselves from other brands.
Words of wisdom
1/ “Collaborate as much as you can. Achieving your business objectives becomes so much easier when you’re able to look past the allure of ‘getting ahead’ and competing against others.”
2/ “Focus on yourself, your dreams, and building your own dream team and network so you’re able to call on support when things get tough, and vice versa.”
3/”Always choose collaboration over competition. Find ways to work with people as opposed to against them, and you will almost always find success.”
5/ “Learn when to ask for help and when to offer it. Don’t overcomplicate things. If you have an idea, ambition or goal – just go for it! Clarity, happiness and innovation are often found in the simplest of things so, yes, do your research and planning, but once that’s done, take the leap – you will find a way to make it work if you really want it.”
6/ “While networking and resources are crucial to a prosperous life and career, hard work and the right attitude will always be the key to success.”
Would you go into business with family members? Share your story with us.