MindingYaBiz

EP 6: Why Family Businesses Fail


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In this episode Farah and Tariq navigate through business and partners as family. We talk through the good and bad of both situations and scenarios to help people understand the importance of partnerships and business.


👥 Hosts:

https://instagram.com/mrsfabfinancial/

https://instagram.com/dr.blackwealth/


Timestamp:

00:00:00 Intro

00:15:44 Business Partnerships

00:16:01 Communication in Partnerships

00:18:02 Personal/Professional Balance

00:19:01 Financial Compensation in Family Business

00:20:02 Equity and Salary Discussions

00:24:02 Work-Life Balance in Family Business

00:32:44 Reflections on Past Decisions

00:37:01 Building Relationships and Trust

00:39:57 Transitioning to Business Ownership

00:42:03 Managing Family Dynamics

00:45:34 Challenges of Family Business

00:50:00 Financial Struggles and Relationships

00:54:00 Decision Making and Communication

00:57:00 Personal Responsibilities and Business Obligations


#businessgrowth #familybusiness #businessadvice

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MindingYaBizBy Tariq & Farah Collins