Hey fellow entrepreneurs!
I'm a first time 20 year old entreprenur and I've recently launched an ecommerce startup, right now we're in the process of iterating and pivoting to create something that the market truly needs/wants.
I started the business with my best friend, and after having worked with him through failures and struggle in over 3 years now, I know we got a strong foundation to be business partners.
However before we launched we got seed funding from my sister and her boyfriend, and last month we all decided that they should join the startup full time. So they did, and now we all live together in the same apartment as we got a limited budget for the moment. They also moved from their home country (as did we for 6 months ago.)
Sounds intimate? it is. But it has worked quite good so far. I understand it won't be easy as we're working together and living togheter (and have close/personal relationships), but we have to do the best of it until we get things going. Luckily we're getting an office in a few weeks.
The reason I wanted them on board is because I knew that they wanted to do this badly, i can trust them to death, and the're willing to work hard, also without getting any salary in the beginning. I was sure they could become rock stars and be great employees. They also have very good personalities and I like them as close friends.
The things is they don't have any necessary skills that could really add value to the startup right now (or I have trouble finding any). I thought/think it's possible to create their roles and skills in the process. Especially now it's hard as we're in the process of huge uncertainty, if we're even going for the right idea or if we need to change etc.
And to be blunt, in reality, the most important skills we need right now in the business is techical/design.
What we also have is a successful business man that is our mentor, me and my partner are meeting with him next monday to discuss all this. But I want to hear from several people about this situation.
So the important question here is, especially as it's a very unique situation and I don't have any experience in this. How can I delegate and make this work?
What should I watch out for, to not head for disaster and loose valuable relationships and the business in the process?
For example I delegated Facebook, and try to learn them what to do and not do etc. And give them great lessons from Mixergy etc. What I realized is that a lot of the suggestions of what they want to do (now in the beginning as they are new), is not really good, and I must "micro manage" and say no a lot. I do my best to do it very constructively and come with other ideas, but I feel it can be taken very negatively.
How can I improve this from my side?
I also get the feeling that my sister can be very emotional in arguments, how can I handle this as good as possible?
Let me know if you have any expeirence or thoughts on this, everything would be a lot of help for me! :eusa_clap:
Thanks!
I'm a first time 20 year old entreprenur and I've recently launched an ecommerce startup, right now we're in the process of iterating and pivoting to create something that the market truly needs/wants.
I started the business with my best friend, and after having worked with him through failures and struggle in over 3 years now, I know we got a strong foundation to be business partners.
However before we launched we got seed funding from my sister and her boyfriend, and last month we all decided that they should join the startup full time. So they did, and now we all live together in the same apartment as we got a limited budget for the moment. They also moved from their home country (as did we for 6 months ago.)
Sounds intimate? it is. But it has worked quite good so far. I understand it won't be easy as we're working together and living togheter (and have close/personal relationships), but we have to do the best of it until we get things going. Luckily we're getting an office in a few weeks.
The reason I wanted them on board is because I knew that they wanted to do this badly, i can trust them to death, and the're willing to work hard, also without getting any salary in the beginning. I was sure they could become rock stars and be great employees. They also have very good personalities and I like them as close friends.
The things is they don't have any necessary skills that could really add value to the startup right now (or I have trouble finding any). I thought/think it's possible to create their roles and skills in the process. Especially now it's hard as we're in the process of huge uncertainty, if we're even going for the right idea or if we need to change etc.
And to be blunt, in reality, the most important skills we need right now in the business is techical/design.
What we also have is a successful business man that is our mentor, me and my partner are meeting with him next monday to discuss all this. But I want to hear from several people about this situation.
So the important question here is, especially as it's a very unique situation and I don't have any experience in this. How can I delegate and make this work?
What should I watch out for, to not head for disaster and loose valuable relationships and the business in the process?
For example I delegated Facebook, and try to learn them what to do and not do etc. And give them great lessons from Mixergy etc. What I realized is that a lot of the suggestions of what they want to do (now in the beginning as they are new), is not really good, and I must "micro manage" and say no a lot. I do my best to do it very constructively and come with other ideas, but I feel it can be taken very negatively.
How can I improve this from my side?
I also get the feeling that my sister can be very emotional in arguments, how can I handle this as good as possible?
Let me know if you have any expeirence or thoughts on this, everything would be a lot of help for me! :eusa_clap:
Thanks!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
