Dylan VanasFounder & 2x 8-Figure Entrepreneur Empowering Growth

Working With Friends and Family.. Yes or No?

Name: Working With Friends and Family.. Yes or No?
Uploaded: 2023-09-02T18:30:38+00:00
Duration: 34 s
Channel: Dylan Vanas
Description: Dylan Vanas explores whether business owners should hire friends and family, focusing on the hardest part: firing them when it doesn't work out. He…

2 Sept 2023 · 1 min

Watch on YouTube

0:34

Dylan Vanas explores whether business owners should hire friends and family, focusing on the hardest part: firing them when it doesn't work out. He argues that tough decisions matter for both the company and the person involved.

Chapters

One of the hardest things to do is have to fire your friends and your family. It's not fun to do, but it's a part of the job of being a business owner because you're doing them a disservice. You know that they don't have potential to grow within the company. Their earning potential is going to stay where it's at or you're going to have to cut them back. The best thing to do when someone is not performing is to make that decision. Like today, you can give them two months severance, three months severance, the most I've ever done. I've given someone like six months of pay. Hey, I'm going to pay you for the next six months. It's going to be a sliding scale where eventually it gets lower and lower and lower. You don't have to do anything and I appreciate you and I wish you the best of luck. The person can't hate you. If they hate you, they're a complete D bag and they deserve to be where they're at.