Episode 79 - Partnering with Friends and Family: Downsides and Mitigation Strategies for Business Ventures

In this episode of the Create Your Own Economy Podcast, host Bumi Anjiblade explores the potential pitfalls of partnering with friends and family in business ventures. She discusses the downsides, including financial risks, limited perspectives, assumptions, and the absence of clear boundaries and exit strategies.

However, Bumi also offers practical mitigation strategies, emphasizing the importance of clear communication and nurturing personal relationships within the business context.

Tune in to gain valuable insights and learn how to navigate the complexities of business partnerships with loved ones. 

 

Key Moments: 

00:10 Involving friends and family in business development.

03:18 Separating personal and business is important for growth.

08:28 Leaving business without a clear exit strategy risks relationships.

10:29 Favoritism can undermine business credibility, and need clear communication.

 

About Bunmi - 

Bunmi Ajibade is the CEO, Executive Trainer, and Coach of Clarole Growth Resources, LLC. She impacts the lives of individuals, groups, and corporations through Coaching, Training, and Mentoring. Bunmi’s strategies include Creating Awareness, Clarity, and Navigating to be more and do more to achieve success. Through her love, passion, care, and empathy, Bunmi has helped her clients navigate, gain clarity and find solutions that will make them live their best lives and become successful. Bunmi has organized workshops, Seminars, led Leadership discussions, and conducted one on one coaching sessions. Bunmi is happily married and raised three successful sons. She resides in Texas, USA. 

 

How to connect with Bunmi Ajibade: 

Website: https://clarolegr.com

LinkedIn - https://www.linkedin.com/in/bunmiaj/

Facebook Page - https://www.facebook.com/Clarole14

Book a call with Bunmi - http://clarolegr.com/meet