Starting a business with siblings?

[circleme]

<div class="bbWrapper">I&#039;m currently starting my first fastlane adventure and I am going back to my roots as a software developer for that. My general goal is to solve business problems with software solutions (Micro SaaS to be clear). Now to my main question:<br /> <br /> My older brother has founded a consulting business in his field (bookkeeping for high profit enterprises) a year ago and they are already quite profitable. Well, we talk almost every two weeks about our businesses (even tough I&#039;m only a freelancer at the moment) and what we have learned and where we&#039;ve f*cked up, what we did right, etc. He knows about my mindset since I&#039;ve read TMF and he was quite interested in the &quot;concept&quot; since the first time we&#039;ve talked about it. He still went the slowlane-route with his business partner and they are trading their time for money. Know he came back to me looking for advice. I have explained the concept behind TMF again and ordered the book for him. Now, I do have kind of a problem:<br /> <br /> He knows that I&#039;m going back to my roots and that I&#039;m going to develop software again - this time for my future customers and not an employer, lol. He thought about a Joint Venture or even founding a company together because he has quite some &quot;cool&quot; ideas and has quite some niche knowledge which is highly valuable imho. He is working in an industry which is completely retarded in terms of how they work. Like, people in this field are using 10 year old programs which weren&#039;t updated in the last 5 years and having only issues with it, etc. Now, that he has his niche knowledge and maybe one or two solutions to a real problem where people are actually paying for it (even though, the solutions are quite bad imho), there would be a potential joint venture between me and my brother BUT<br /> <br /> Is this really a thing I should consider? I mean, doing business with a family member? I only heared bad things about it. Same goes to founding with good friends and so on. On TFF I&#039;ve read one thread <a href="https://www.thefastlaneforum.com/community/threads/400-000-business-need-to-dissolve-business-partnership-with-my-brother.56424/" class="link link--internal">HOT! - $400,000 Business, Need To Dissolve Business Partnership With My Brother</a> and something like that sounds like a complete nightmare. I could be kind of naive and tell myself that this will never happen because our relationship is that strong, but what happens when money is involved? What happens when there are big differences in our opinions regarding certain things? <br /> <br /> I would be happy to read some advices.<br /> <br /> Thanks in advance<br /> <br /> Kind regards</div>

 

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[Anon45x4yB]

<div class="bbWrapper"><blockquote data-attributes="member: 119407" data-quote="circleme" data-source="post: 1050791" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1050791" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1050791">circleme said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> I&#039;m currently starting my first fastlane adventure and I am going back to my roots as a software developer for that. My general goal is to solve business problems with software solutions (Micro SaaS to be clear). Now to my main question:<br /> <br /> My older brother has founded a consulting business in his field (bookkeeping for high profit enterprises) a year ago and they are already quite profitable. Well, we talk almost every two weeks about our businesses (even tough I&#039;m only a freelancer at the moment) and what we have learned and where we&#039;ve f*cked up, what we did right, etc. He knows about my mindset since I&#039;ve read TMF and he was quite interested in the &quot;concept&quot; since the first time we&#039;ve talked about it. He still went the slowlane-route with his business partner and they are trading their time for money. Know he came back to me looking for advice. I have explained the concept behind TMF again and ordered the book for him. Now, I do have kind of a problem:<br /> <br /> Il sait que je reviens à mes racines et que je vais développer à nouveau des logiciels - cette fois pour mes futurs clients et non pour un employeur, lol. Il a pensé à une joint-venture ou même à la création d&#039;une entreprise ensemble parce qu&#039;il a pas mal d&#039;idées &quot;cool&quot; et possède des connaissances de niche qui sont très précieuses à mon humble avis. Il travaille dans une industrie qui est complètement retardée en termes de fonctionnement. Comme, les gens dans ce domaine utilisent des programmes vieux de 10 ans qui n&#039;ont pas été mis à jour au cours des 5 dernières années et n&#039;ont que des problèmes avec, etc. Maintenant, qu&#039;il a ses connaissances de niche et peut-être une ou deux solutions à un vrai problème où les gens paient en fait pour cela (même si les solutions sont assez mauvaises à mon humble avis), il y aurait une coentreprise potentielle entre moi et mon frère MAIS<br /> <br /> Est-ce vraiment une chose que je devrais considérer? Je veux dire, faire des affaires avec un membre de la famille ? Je n&#039;en ai entendu que du mal. Il en va de même pour fonder avec de bons amis, etc. Sur TFF, j&#039;ai lu un fil <a href="https://www.thefastlaneforum.com/community/threads/400-000-business-need-to-dissolve-business-partnership-with-my-brother.56424/" class="link link--internal">HOT ! - Entreprise de 400 000 $, besoin de dissoudre un partenariat commercial avec mon frère</a> et quelque chose comme ça ressemble à un cauchemar complet. Je pourrais être un peu naïf et me dire que cela n&#039;arrivera jamais parce que notre relation est si forte, mais que se passe-t-il lorsque l&#039;argent est en jeu ? Que se passe-t-il lorsqu&#039;il y a de grandes différences dans nos opinions sur certaines choses ?<br /> <br /> Je serais heureux de lire quelques conseils.<br /> <br /> Merci d&#039;avance<br /> <br /> Bien à vous </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Look man, it all depends on your partner&#039;s mentality. Choose a partner who cares about providing real value, rather than a guy who just wants money. To detect the objectives and mentalities of your partner, it will be necessary to exchange a lot!</div>

 

[circleme]

<div class="bbWrapper"><blockquote data-attributes="member: 119338" data-quote="youneskill" data-source="post: 1050812" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1050812" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1050812">youneskill said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> Look man, it all depends on your partner&#039;s mentality. Choose a partner who cares about providing real value, rather than a guy who just wants money. To detect the objectives and mentalities of your partner, it will be necessary to exchange a lot! </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>no offense, but have you even read my thread?</div>

 

[Anon45x4yB]

<div class="bbWrapper"><blockquote data-attributes="member: 119407" data-quote="circleme" data-source="post: 1050820" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=1050820" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-1050820">circleme said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> no offense, but have you even read my thread? </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote>Yes. I couldn&#039;t be more specific because I don&#039;t know who your brother is. But you seem like complementary. It is a very very variable subject!</div>